Winchester VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Winchester, 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 Q4 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Winchester Housing Market Information

With 28,108 people, 10,554 houses or apartments, and a median cost of homes of $335,798, Winchester real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Winchester, accounting for 57.15% of the city's housing units. Other types of housing that are prevalent in Winchester include large apartment complexes or high rise apartments ( 17.43%), row houses and other attached homes ( 14.26%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 10.79%).

The most prevalent building size and type in Winchester are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 45.18% owning and 54.82% renting.

There is a lot of housing in Winchester 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 Winchester built between 1940-1969 ( 30.85%). A lesser amount of the housing stock also hails from before 1939 ( 24.50%). There's also some housing in Winchester built between 2000 and later ( 10.65%).

Vacant housing appears to be an issue in Winchester. Fully 11.28% of the housing stock is classified as vacant. Left unchecked, vacant Winchester homes and apartments can be a drag on the real estate market, holding Winchester 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.

Winchester Home Appreciation Rates

Appreciation rates for homes in Winchester have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 37.69%, which ranks in the top 30% nationwide. This equates to an annual average Winchester house appreciation rate of 3.25%.

Appreciation rates are so strong in Winchester that despite a nationwide downturn in the housing market, Winchester real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Winchester appreciation rates continue to be some of the highest in America, at 7.44%, which is higher than appreciation rates in 96.72% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Winchester. Winchester appreciation rates in the latest quarter were at 2.00%, which equates to an annual appreciation rate of 8.26%.

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

Relative to Virginia, our data show that Winchester's latest annual appreciation rate is higher than 90% 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 city. Individual neighborhoods within Winchester differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Winchester - 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 Winchester real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$335,798

Winchester, VA HOME PRICES

Value Range
> $1,211,000 0.0
$908,001 - $1,211,000 1.3
$606,001 - $908,000 6.8
$484,001 - $606,000 6.2
$363,001 - $484,000 11.9
$242,001 - $363,000 29.1
$121,001 - $242,000 40.0
$61,001 - $121,000 2.4
$0 - $61,000 2.3

Very High for VA
Very High for Nation

Value Relative to Nation Value Relative to State
16.6598540145985 19.5592286501377

Number Of Homes And Apartments:
10,554

Winchester Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2019 Q3 - 2019 Q4
Last 12 Months:
2018 Q4 - 2019 Q4
Last 2 Years:
2017 Q4 - 2019 Q4
Last 5 Years:
2014 Q4 - 2019 Q4
Last 10 Years:
2009 Q4 - 2019 Q4
Since 2000:
2000 Q1 - 2019 Q4
94.12% 3.37%
9
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,398 / per month

Homeownership Rate

Homeownership
Owners 45.18
Renters 54.82
Vacant 11.28

Housing Market Details

 

Age of Homes

AGE OF Winchester HOMES
2000 or Newer 10.7
1970 - 1999 34.0
1940 - 1969 30.9
1939 or Older 24.5

Types of Homes

TYPE OF Winchester HOMES
Single-Family 57.1
Townhomes 14.3
Small Apt. Buildings 10.8
Apt. Complexes 17.4
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Winchester HOMES
No Bedroom 3.06
1 Bedroom 11.16
2 Bedrooms 29.97
3 Bedrooms 35.31
4 Bedrooms 15.85
5 or more bedrooms 4.65