Blue Ridge, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Blue Ridge, VA Real Estate Data


Blue Ridge Housing Market Information

With 3,082 people, 1,038 houses or apartments, and a median cost of homes of $207,550, Blue Ridge real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Blue Ridge, accounting for 87.94% of the town's housing units. Other types of housing that are prevalent in Blue Ridge include mobile homes or trailers ( 7.41%), duplexes, homes converted to apartments or other small apartment buildings ( 4.65%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Blue Ridge. Owner-occupied housing accounts for 86.90% of Blue Ridge's homes, and 82.53% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Blue Ridge built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Blue Ridge built between 1940-1969 ( 18.80%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.06%). There's also some housing in Blue Ridge built before 1939 ( 2.85%).

Blue Ridge Home Appreciation Rates

Blue Ridge's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Blue Ridge during the period has been just -1.06%, which is lower than 70% of US communities.

Over the last year, Blue Ridge appreciation rates have trailed the rest of the nation. In the last twelve months, Blue Ridge's appreciation rate has been 2.29%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Blue Ridge were at 0.36%, which equates to an annual appreciation rate of 1.47%.

Relative to Virginia, our data show that Blue Ridge's latest annual appreciation rate is lower than 60% of the other cities and towns in Virginia.

Average Home Values

 

Median Home Value:
$207,550

Blue Ridge, VA HOME PRICES

Value Range
> $1,034,000 0.3
$775,001 - $1,034,000 0.7
$517,001 - $775,000 4.6
$413,001 - $517,000 1.8
$310,001 - $413,000 11.9
$207,001 - $310,000 29.3
$104,001 - $207,000 47.5
$52,001 - $104,000 1.0
$0 - $52,000 2.9

Average for VA
High for Nation

Value Relative to Nation Value Relative to State
30.188679245283 41.8282548476454

Number Of Homes And Apartments:
1,038

Rent & Ownership

 

Average Market Rent:
$880 / per month

Homeownership Rate

Homeownership
Owners 86.90
Renters 13.10
Vacant 1.42

Housing Market Details

 

Age of Homes

AGE OF Blue Ridge HOMES
2000 or Newer 12.1
1970 - 1999 66.3
1940 - 1969 18.8
1939 or Older 2.8

Types of Homes

TYPE OF Blue Ridge HOMES
Single-Family 87.9
Townhomes 0.0
Small Apt. Buildings 4.7
Apt. Complexes 0.0
Mobile Homes 7.4
Other 0.0

Home Size

SIZE OF Blue Ridge HOMES
No Bedroom 0.00
1 Bedroom 4.46
2 Bedrooms 7.88
3 Bedrooms 54.23
4 Bedrooms 28.30
5 or more bedrooms 5.13

Blue Ridge Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
30.54% 1.56% 1 3
* 10 is highest

Popular Neighborhoods in Blue Ridge

Zip Codes in Blue Ridge, VA