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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 3,580 people, 1,692 houses or apartments, and a median cost of homes of $233,833, Colonial Beach real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Colonial Beach, accounting for 80.91% of the town's housing units. Other types of housing that are prevalent in Colonial Beach include large apartment complexes or high rise apartments ( 6.12%), row houses and other attached homes ( 6.03%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.80%).
The most prevalent building size and type in Colonial Beach are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 60.83% owning and 39.17% renting.
There is a lot of housing in Colonial Beach 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 Colonial Beach built between 1940-1969 ( 24.43%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.84%). There's also some housing in Colonial Beach built before 1939 ( 14.00%).
Vacant housing appears to be an issue in Colonial Beach. Fully 30.54% of the housing stock is classified as vacant. Left unchecked, vacant Colonial Beach homes and apartments can be a drag on the real estate market, holding Colonial Beach 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.
Homes have actually lost value in Colonial Beach over the last then years, as home values have seen a decline of 22.73% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Colonial Beach home appreciation rates at -1.60%, which equates to an annual appreciation rate of -6.23%.
Over the last year, Colonial Beach appreciation rates have trailed the rest of the nation. In the last twelve months, Colonial Beach's appreciation rate has been 1.30%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Colonial Beach were at -1.60%, which equates to an annual appreciation rate of -6.23%.
Notably, Colonial Beach's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Virginia, our data show that Colonial Beach's latest annual appreciation rate is lower than 50% of the other cities and towns in Virginia.
|$773,001 - $1,031,000||1.2|
|$516,001 - $773,000||6.8|
|$413,001 - $516,000||3.7|
|$309,001 - $413,000||12.5|
|$206,001 - $309,000||32.0|
|$103,001 - $206,000||27.5|
|$52,001 - $103,000||2.7|
|$0 - $52,000||11.5|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Colonial Beach HOMES|
|2000 or Newer||21.8|
|1970 - 1999||39.7|
|1940 - 1969||24.4|
|1939 or Older||14.0|
|TYPE OF Colonial Beach HOMES|
|Small Apt. Buildings||4.8|
|SIZE OF Colonial Beach HOMES|
|5 or more bedrooms||4.39|