Charles City, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Charles City, VA Real Estate Data


Charles City Housing Market Information

With a population of 129, 61 total housing units (homes and apartments), and a median house value of $202,493, Charles City real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Charles City, accounting for 88.61% of the town's housing units. Other types of housing that are prevalent in Charles City include mobile homes or trailers ( 11.39%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Charles City. Owner-occupied housing accounts for 80.33% of Charles City's homes, and 87.34% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Charles City 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 Charles City built before 1939 ( 22.78%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.99%). There's also some housing in Charles City built between 2000 and later ( 10.13%).

Vacant housing appears to be an issue in Charles City. Fully 22.78% of the housing stock is classified as vacant. Left unchecked, vacant Charles City homes and apartments can be a drag on the real estate market, holding Charles City 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.

Charles City Home Appreciation Rates

Real estate appreciation rates in Charles City's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.19% during the period.

Appreciation rates are so strong in Charles City that despite a nationwide downturn in the housing market, Charles City real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Charles City appreciation rates continue to be some of the highest in America, at 7.96%, which is higher than appreciation rates in 91.26% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Charles City. Charles City appreciation rates in the latest quarter were at 2.03%, which equates to an annual appreciation rate of 8.38%.

Relative to Virginia, our data show that Charles City's latest annual appreciation rate is higher than 90% of the other cities and towns in Virginia.

Average Home Values

 

Median Home Value:
$202,493

Charles City, VA HOME PRICES

Value Range
> $1,227,000 1.9
$921,001 - $1,227,000 3.4
$614,001 - $921,000 10.1
$490,001 - $614,000 0.8
$369,001 - $490,000 5.3
$246,001 - $369,000 15.1
$123,001 - $246,000 40.0
$61,001 - $123,000 15.9
$0 - $61,000 7.7

Average for VA
High for Nation

Value Relative to Nation Value Relative to State
32.4647186273936 46.5373961218837

Number Of Homes And Apartments:
61

Rent & Ownership

 

Average Market Rent:
$1,219 / per month

Homeownership Rate

Homeownership
Owners 80.33
Renters 19.67
Vacant 22.78

Housing Market Details

 

Age of Homes

AGE OF Charles City HOMES
2000 or Newer 10.1
1970 - 1999 48.1
1940 - 1969 19.0
1939 or Older 22.8

Types of Homes

TYPE OF Charles City HOMES
Single-Family 88.6
Townhomes 0.0
Small Apt. Buildings 0.0
Apt. Complexes 0.0
Mobile Homes 11.4
Other 0.0

Home Size

SIZE OF Charles City HOMES
No Bedroom 0.00
1 Bedroom 0.00
2 Bedrooms 12.66
3 Bedrooms 67.09
4 Bedrooms 20.25
5 or more bedrooms 0.00

Charles City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
62.18% 2.89% 7 8
* 10 is highest

Popular Neighborhoods in Charles City

Zip Codes in Charles City, VA