Gainesville, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Gainesville, VA Real Estate Data


Gainesville Housing Market Information

With 12,750 people, 3,913 houses or apartments, and a median cost of homes of $544,879, Gainesville house prices are not only among the most expensive in Virginia, Gainesville real estate also is some of the most expensive in all of America.

Gainesville is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Gainesville than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Gainesville. Owner-occupied housing accounts for 82.26% of Gainesville's homes, and 73.01% have either three or four bedrooms, which is average sized relative to America.

Gainesville homes and real estate are some of the newest in America. 76.71% of Gainesville's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Gainesville real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 17.29%), and between 1940-1969 ( 5.72%).

Vacant housing appears to be an issue in Gainesville. Fully 10.13% of the housing stock is classified as vacant. Left unchecked, vacant Gainesville homes and apartments can be a drag on the real estate market, holding Gainesville 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.

Gainesville Home Appreciation Rates

Gainesville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Gainesville during the period has been just -1.18%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Gainesville's appreciation rate, at 5.45%, has been at or slightly above the national average. In the latest quarter, Gainesville's appreciation rate has been 1.43%, which annualizes to a rate of 5.85%.

Relative to Virginia, our data show that Gainesville's latest annual appreciation rate is higher 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 town. Individual neighborhoods within Gainesville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Gainesville - 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 Gainesville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$544,879

Gainesville, VA HOME PRICES

Value Range
> $1,217,000 1.2
$912,001 - $1,217,000 6.9
$608,001 - $912,000 23.8
$487,001 - $608,000 24.5
$365,001 - $487,000 24.2
$244,001 - $365,000 14.1
$122,001 - $244,000 5.0
$61,001 - $122,000 0.0
$0 - $61,000 0.2

Very High for VA
Very High for Nation

Value Relative to Nation Value Relative to State
5.10628330503016 4.70914127423823

Number Of Homes And Apartments:
3,913

Rent & Ownership

 

Average Market Rent:
$1,961 / per month

Homeownership Rate

Homeownership
Owners 82.26
Renters 17.74
Vacant 10.13

Housing Market Details

 

Age of Homes

AGE OF Gainesville HOMES
2000 or Newer 76.7
1970 - 1999 17.3
1940 - 1969 5.7
1939 or Older 0.3

Types of Homes

TYPE OF Gainesville HOMES
Single-Family 62.0
Townhomes 24.3
Small Apt. Buildings 3.4
Apt. Complexes 10.3
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Gainesville HOMES
No Bedroom 0.00
1 Bedroom 2.34
2 Bedrooms 9.37
3 Bedrooms 34.45
4 Bedrooms 38.56
5 or more bedrooms 15.27

Gainesville 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
70.23% 3.18% 8 8
* 10 is highest