Waverly, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Waverly, 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

Waverly Housing Market Information

With a population of 2,073, 633 total housing units (homes and apartments), and a median house value of $160,951, Waverly real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Waverly, accounting for 68.87% of the town's housing units. Other types of housing that are prevalent in Waverly include mobile homes or trailers ( 17.28%), large apartment complexes or high rise apartments ( 8.31%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.35%).

The most prevalent building size and type in Waverly are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 48.64% owning and 51.36% renting.

There is a lot of housing in Waverly 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 Waverly built between 1940-1969 ( 34.30%). A lesser amount of the housing stock also hails from before 1939 ( 9.76%). There's also some housing in Waverly built between 2000 and later ( 3.96%).

Vacant housing appears to be an issue in Waverly. Fully 16.49% of the housing stock is classified as vacant. Left unchecked, vacant Waverly homes and apartments can be a drag on the real estate market, holding Waverly 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.

Waverly Home Appreciation Rates

Appreciation rates for homes in Waverly have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 4.19%, which ranks in the top 50% nationwide. This equates to an annual average Waverly house appreciation rate of 0.41%.

Appreciation rates are so strong in Waverly that despite a nationwide downturn in the housing market, Waverly real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Waverly appreciation rates continue to be some of the highest in America, at 8.27%, which is higher than appreciation rates in 87.98% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Waverly. Waverly appreciation rates in the latest quarter were at 1.35%, which equates to an annual appreciation rate of 5.51%.

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

Average Home Values

 

Median Home Value:
$160,951

Waverly, VA HOME PRICES

Value Range
> $1,140,000 0.0
$855,001 - $1,140,000 0.0
$570,001 - $855,000 1.8
$456,001 - $570,000 1.0
$342,001 - $456,000 3.6
$228,001 - $342,000 21.8
$114,001 - $228,000 37.4
$57,001 - $114,000 23.4
$0 - $57,000 11.0

Low for VA
Average for Nation

Value Relative to Nation Value Relative to State
45.2390718387437 61.7728531855956

Number Of Homes And Apartments:
633

Waverly 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
62.73% 2.86% 7 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,086 / per month

Homeownership Rate

Homeownership
Owners 48.64
Renters 51.36
Vacant 16.49

Housing Market Details

 

Age of Homes

AGE OF Waverly HOMES
2000 or Newer 4.0
1970 - 1999 52.0
1940 - 1969 34.3
1939 or Older 9.8

Types of Homes

TYPE OF Waverly HOMES
Single-Family 68.9
Townhomes 1.2
Small Apt. Buildings 4.4
Apt. Complexes 8.3
Mobile Homes 17.3
Other 0.0

Home Size

SIZE OF Waverly HOMES
No Bedroom 0.92
1 Bedroom 5.28
2 Bedrooms 36.54
3 Bedrooms 42.74
4 Bedrooms 12.53
5 or more bedrooms 1.98

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Zip Codes in Waverly, VA