West Point, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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West Point, VA Real Estate Data


West Point Housing Market Information

With a population of 3,333, 1,408 total housing units (homes and apartments), and a median house value of $241,692, West Point real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in West Point, accounting for 81.27% of the town's housing units. Other types of housing that are prevalent in West Point include large apartment complexes or high rise apartments ( 10.22%), duplexes, homes converted to apartments or other small apartment buildings ( 6.33%), and a few row houses and other attached homes ( 1.32%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in West Point. Owner-occupied housing accounts for 67.31% of West Point's homes, and 69.72% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in West Point 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 West Point built between 1940-1969 ( 24.74%). A lesser amount of the housing stock also hails from before 1939 ( 22.56%). There's also some housing in West Point built between 2000 and later ( 12.66%).

West Point Home Appreciation Rates

Real estate appreciation rates in West Point's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.35% during the period.

Appreciation rates are so strong in West Point that despite a nationwide downturn in the housing market, West Point real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, West Point appreciation rates continue to be some of the highest in America, at 6.09%, which is higher than appreciation rates in 75.43% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in West Point. West Point appreciation rates in the latest quarter were at 2.03%, which equates to an annual appreciation rate of 8.38%.

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

Average Home Values

 

Median Home Value:
$241,692

West Point, VA HOME PRICES

Value Range
> $1,125,000 0.0
$843,001 - $1,125,000 2.1
$562,001 - $843,000 5.1
$450,001 - $562,000 5.6
$337,001 - $450,000 6.6
$225,001 - $337,000 34.8
$113,001 - $225,000 36.7
$56,001 - $113,000 6.8
$0 - $56,000 2.4

High for VA
High for Nation

Value Relative to Nation Value Relative to State
24.4715113895883 34.0720221606648

Number Of Homes And Apartments:
1,408

Rent & Ownership

 

Average Market Rent:
$933 / per month

Homeownership Rate

Homeownership
Owners 67.31
Renters 32.69
Vacant 7.12

Housing Market Details

 

Age of Homes

AGE OF West Point HOMES
2000 or Newer 12.7
1970 - 1999 40.0
1940 - 1969 24.7
1939 or Older 22.6

Types of Homes

TYPE OF West Point HOMES
Single-Family 81.3
Townhomes 1.3
Small Apt. Buildings 6.3
Apt. Complexes 10.2
Mobile Homes 0.9
Other 0.0

Home Size

SIZE OF West Point HOMES
No Bedroom 0.00
1 Bedroom 4.62
2 Bedrooms 21.44
3 Bedrooms 45.91
4 Bedrooms 23.81
5 or more bedrooms 4.22

West Point 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
54.85% 2.61% 5 7
* 10 is highest

Popular Neighborhoods in West Point

Zip Codes in West Point, VA