Bristol, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Bristol, VA Real Estate Data


Bristol Housing Market Information

With a population of 17,141, 7,718 total housing units (homes and apartments), and a median house value of $132,835, house prices in Bristol are solidly below the national average.

Single-family detached homes are the single most common housing type in Bristol, accounting for 66.45% of the city's housing units. Other types of housing that are prevalent in Bristol include large apartment complexes or high rise apartments ( 17.49%), duplexes, homes converted to apartments or other small apartment buildings ( 10.15%), and a few row houses and other attached homes ( 3.34%).

The most prevalent building size and type in Bristol are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.88% owning and 46.12% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Bristol's housing was primarily built during this period, from the '40s through the '60s. A full 41.76% of the city's housing hails from this era. Other housing ages represented in Bristol include homes built between 1970-1999 ( 35.78%) and housing constructed before 1939 ( 14.48%). There's also some housing in Bristol built between 2000 and later ( 7.99%).

Vacant housing appears to be an issue in Bristol. Fully 12.70% of the housing stock is classified as vacant. Left unchecked, vacant Bristol homes and apartments can be a drag on the real estate market, holding Bristol real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Bristol Home Appreciation Rates

Appreciation rates for homes in Bristol have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 2.49%, which ranks in the top 50% nationwide. This equates to an annual average Bristol house appreciation rate of 0.25%.

Over the last year, Bristol appreciation rates have trailed the rest of the nation. In the last twelve months, Bristol's appreciation rate has been 0.13%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bristol were at 1.18%, which equates to an annual appreciation rate of 4.80%.

Relative to Virginia, our data show that Bristol's latest annual appreciation rate is lower than 80% of the other cities and towns in Virginia.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Bristol differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bristol - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Bristol real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$132,835

Bristol, VA HOME PRICES

Value Range
> $1,031,000 0.4
$774,001 - $1,031,000 0.7
$516,001 - $774,000 0.6
$413,001 - $516,000 0.9
$309,001 - $413,000 3.3
$206,001 - $309,000 8.4
$103,001 - $206,000 39.5
$52,001 - $103,000 36.4
$0 - $52,000 9.6

Low for VA
Average for Nation

Value Relative to Nation Value Relative to State
58.1507090120708 73.1301939058172

Number Of Homes And Apartments:
7,718

Rent & Ownership

 

Average Market Rent:
$790 / per month

Homeownership Rate

Homeownership
Owners 53.88
Renters 46.12
Vacant 12.70

Housing Market Details

 

Age of Homes

AGE OF Bristol HOMES
2000 or Newer 8.0
1970 - 1999 35.8
1940 - 1969 41.8
1939 or Older 14.5

Types of Homes

TYPE OF Bristol HOMES
Single-Family 66.5
Townhomes 3.3
Small Apt. Buildings 10.1
Apt. Complexes 17.5
Mobile Homes 2.6
Other 0.0

Home Size

SIZE OF Bristol HOMES
No Bedroom 2.28
1 Bedroom 9.08
2 Bedrooms 33.13
3 Bedrooms 44.59
4 Bedrooms 9.29
5 or more bedrooms 1.63

Bristol 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
39.52% 1.95% 3 5
* 10 is highest