Castlewood, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Castlewood Neighborhoods Since 2000




Castlewood, VA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Castlewood Housing Market Information

With 1,981 people, 738 houses or apartments, and a median cost of homes of $87,969, house prices in Castlewood are some of the most affordable in Virginia as well as the nation.

Single-family detached homes are the single most common housing type in Castlewood, accounting for 75.83% of the town's housing units. Other types of housing that are prevalent in Castlewood include mobile homes or trailers ( 20.20%), large apartment complexes or high rise apartments ( 3.97%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Castlewood. Owner-occupied housing accounts for 66.03% of Castlewood's homes, and 59.49% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Castlewood 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 Castlewood built between 1940-1969 ( 22.19%). A lesser amount of the housing stock also hails from before 1939 ( 11.26%). There's also some housing in Castlewood built between 2000 and later ( 4.08%).

Vacant housing appears to be an issue in Castlewood. Fully 18.54% of the housing stock is classified as vacant. Left unchecked, vacant Castlewood homes and apartments can be a drag on the real estate market, holding Castlewood 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.

Castlewood Home Appreciation Rates

Castlewood's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Castlewood during the period has been just -2.04%, which is lower than 80% of US communities.

Over the last year, Castlewood appreciation rates have trailed the rest of the nation. In the last twelve months, Castlewood's appreciation rate has been -0.48%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Castlewood were at -1.60%, which equates to an annual appreciation rate of -6.23%.

Notably, Castlewood's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Virginia, our data show that Castlewood's latest annual appreciation rate is lower than 70% of the other cities and towns in Virginia.

Average Home Values

 

Median Home Value:
$87,969

Castlewood, VA HOME PRICES

Value Range
> $1,000,000 0.1
$750,001 - $1,000,000 0.0
$500,001 - $750,000 1.7
$400,001 - $500,000 0.1
$300,001 - $400,000 0.8
$200,001 - $300,000 9.2
$100,001 - $200,000 33.7
$50,001 - $100,000 25.5
$0 - $50,000 28.8

Very Low for VA
Very Low for Nation

Value Relative to Nation Value Relative to State
85.5033399742177 93.0747922437673

Number Of Homes And Apartments:
738

Castlewood Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
31.68% 1.61% 2 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$644 / per month

Homeownership Rate

Homeownership
Owners 66.03
Renters 33.97
Vacant 18.54

Housing Market Details

 

Age of Homes

AGE OF Castlewood HOMES
2000 or Newer 4.1
1970 - 1999 62.5
1940 - 1969 22.2
1939 or Older 11.3

Types of Homes

TYPE OF Castlewood HOMES
Single-Family 75.8
Townhomes 0.0
Small Apt. Buildings 0.0
Apt. Complexes 4.0
Mobile Homes 20.2
Other 0.0

Home Size

SIZE OF Castlewood HOMES
No Bedroom 0.00
1 Bedroom 2.43
2 Bedrooms 33.66
3 Bedrooms 49.89
4 Bedrooms 9.60
5 or more bedrooms 4.42

Popular Neighborhoods in Castlewood

Zip Codes in Castlewood, VA