Scottsville, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Scottsville, VA Real Estate Data


Scottsville Housing Market Information

With a population of 603, 243 total housing units (homes and apartments), and a median house value of $215,367, Scottsville real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Scottsville, accounting for 72.46% of the town's housing units. Other types of housing that are prevalent in Scottsville include large apartment complexes or high rise apartments ( 12.46%), duplexes, homes converted to apartments or other small apartment buildings ( 12.13%), and a few row houses and other attached homes ( 1.64%).

The most prevalent building size and type in Scottsville are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 55.97% owning and 44.03% renting.

The housing in Scottsville was primarily built before 1939 ( 41.64%), making the housing stock in Scottsville some of the oldest overall in America, although there is a range of ages of homes in Scottsville. The next most important housing age is between 1940-1969 ( 38.36%), followed by between 1970-1999 ( 16.72%). There's also some housing in Scottsville built between 2000 and later ( 3.28%).

Vacant housing appears to be an issue in Scottsville. Fully 20.33% of the housing stock is classified as vacant. Left unchecked, vacant Scottsville homes and apartments can be a drag on the real estate market, holding Scottsville 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.

Scottsville Home Appreciation Rates

Real estate appreciation rates in Scottsville's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.67% during the period.

Over the last year, Scottsville appreciation rates have trailed the rest of the nation. In the last twelve months, Scottsville's appreciation rate has been 3.10%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Scottsville were at 1.59%, which equates to an annual appreciation rate of 6.52%.

Importantly, this makes Scottsville one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Virginia, our data show that Scottsville's latest annual appreciation rate is lower than 50% of the other cities and towns in Virginia.

Average Home Values

 

Median Home Value:
$215,367

Scottsville, VA HOME PRICES

Value Range
> $1,074,000 3.4
$806,001 - $1,074,000 2.1
$537,001 - $806,000 6.6
$430,001 - $537,000 4.4
$322,001 - $430,000 9.2
$215,001 - $322,000 25.6
$107,001 - $215,000 32.0
$54,001 - $107,000 11.2
$0 - $54,000 5.1

High for VA
High for Nation

Value Relative to Nation Value Relative to State
28.3604828313606 39.3351800554017

Number Of Homes And Apartments:
243

Rent & Ownership

 

Average Market Rent:
$1,176 / per month

Homeownership Rate

Homeownership
Owners 55.97
Renters 44.03
Vacant 20.33

Housing Market Details

 

Age of Homes

AGE OF Scottsville HOMES
2000 or Newer 3.3
1970 - 1999 16.7
1940 - 1969 38.4
1939 or Older 41.6

Types of Homes

TYPE OF Scottsville HOMES
Single-Family 72.5
Townhomes 1.6
Small Apt. Buildings 12.1
Apt. Complexes 12.5
Mobile Homes 1.3
Other 0.0

Home Size

SIZE OF Scottsville HOMES
No Bedroom 1.64
1 Bedroom 19.02
2 Bedrooms 25.57
3 Bedrooms 46.89
4 Bedrooms 6.89
5 or more bedrooms 0.00

Scottsville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
82.61% 3.55% 9 9
* 10 is highest

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