Glade Spring, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Glade Spring, 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

Glade Spring Housing Market Information

With a population of 1,453, 594 total housing units (homes and apartments), and a median house value of $104,832, house prices in Glade Spring are solidly below the national average.

Single-family detached homes are the single most common housing type in Glade Spring, accounting for 87.87% of the town's housing units. Other types of housing that are prevalent in Glade Spring include duplexes, homes converted to apartments or other small apartment buildings ( 6.29%), mobile homes or trailers ( 4.39%), and a few large apartment complexes or high rise apartments ( 1.17%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Glade Spring. Owner-occupied housing accounts for 68.69% of Glade Spring's homes, and 65.94% have either three or four bedrooms, which is average sized relative to America.

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. Glade Spring's housing was primarily built during this period, from the '40s through the '60s. A full 43.42% of the town's housing hails from this era. Other housing ages represented in Glade Spring include homes built between 1970-1999 ( 29.82%) and housing constructed before 1939 ( 17.84%). There's also some housing in Glade Spring built between 2000 and later ( 8.92%).

Vacant housing appears to be an issue in Glade Spring. Fully 13.16% of the housing stock is classified as vacant. Left unchecked, vacant Glade Spring homes and apartments can be a drag on the real estate market, holding Glade Spring 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.

Glade Spring Home Appreciation Rates

Appreciation rates for homes in Glade Spring have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 10.53%, which ranks in the top 30% nationwide. This equates to an annual average Glade Spring house appreciation rate of 1.01%.

NeighborhoodScout's data show that during the latest twelve months, Glade Spring's appreciation rate, at 4.85%, has been at or slightly above the national average. In the latest quarter, Glade Spring's appreciation rate has been -1.22%, which annualizes to a rate of -4.81%.

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

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

Average Home Values

 

Median Home Value:
$104,832

Glade Spring, VA HOME PRICES

Value Range
> $1,046,000 0.6
$784,001 - $1,046,000 0.7
$523,001 - $784,000 0.4
$419,001 - $523,000 1.4
$314,001 - $419,000 3.5
$209,001 - $314,000 11.1
$104,001 - $209,000 31.2
$53,001 - $104,000 29.7
$0 - $53,000 21.3

Very Low for VA
Low for Nation

Value Relative to Nation Value Relative to State
74.4169694128677 84.2105263157895

Number Of Homes And Apartments:
594

Glade Spring 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
51.08% 2.42% 5 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$741 / per month

Homeownership Rate

Homeownership
Owners 68.69
Renters 31.31
Vacant 13.16

Housing Market Details

 

Age of Homes

AGE OF Glade Spring HOMES
2000 or Newer 8.9
1970 - 1999 29.8
1940 - 1969 43.4
1939 or Older 17.8

Types of Homes

TYPE OF Glade Spring HOMES
Single-Family 87.9
Townhomes 0.3
Small Apt. Buildings 6.3
Apt. Complexes 1.2
Mobile Homes 4.4
Other 0.0

Home Size

SIZE OF Glade Spring HOMES
No Bedroom 1.32
1 Bedroom 4.09
2 Bedrooms 26.02
3 Bedrooms 47.66
4 Bedrooms 18.27
5 or more bedrooms 2.63

Popular Neighborhoods in Glade Spring

Zip Codes in Glade Spring, VA