Colchester, VT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Colchester, VT Real Estate Data


Colchester Housing Market Information

With 17,383 people, 6,219 houses or apartments, and a median cost of homes of $280,487, Colchester real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Colchester, accounting for 57.82% of the town's housing units. Other types of housing that are prevalent in Colchester include large apartment complexes or high rise apartments ( 13.06%), duplexes, homes converted to apartments or other small apartment buildings ( 12.13%), and a few row houses and other attached homes ( 8.96%).

The most prevalent building size and type in Colchester are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 62.55% owning and 37.45% renting.

There is a lot of housing in Colchester 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 Colchester built between 1940-1969 ( 21.31%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.64%). There's also some housing in Colchester built before 1939 ( 9.85%).

Vacant housing appears to be an issue in Colchester. Fully 10.74% of the housing stock is classified as vacant. Left unchecked, vacant Colchester homes and apartments can be a drag on the real estate market, holding Colchester 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.

Colchester Home Appreciation Rates

Appreciation rates for homes in Colchester have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.16%, which ranks in the top 40% nationwide. This equates to an annual average Colchester house appreciation rate of 0.79%.

Over the last year, Colchester appreciation rates have trailed the rest of the nation. In the last twelve months, Colchester's appreciation rate has been 2.31%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Colchester were at 1.15%, which equates to an annual appreciation rate of 4.69%.

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

Average Home Values

 

Median Home Value:
$280,487

Colchester, VT HOME PRICES

Value Range
> $1,109,000 2.7
$832,001 - $1,109,000 1.2
$555,001 - $832,000 3.4
$444,001 - $555,000 6.4
$333,001 - $444,000 17.5
$222,001 - $333,000 39.1
$111,001 - $222,000 14.6
$56,001 - $111,000 2.8
$0 - $56,000 12.4

Very High for VT
Very High for Nation

Value Relative to Nation Value Relative to State
18.9494641916027 17.5182481751825

Number Of Homes And Apartments:
6,219

Rent & Ownership

 

Average Market Rent:
$1,309 / per month

Homeownership Rate

Homeownership
Owners 62.55
Renters 37.45
Vacant 10.74

Housing Market Details

 

Age of Homes

AGE OF Colchester HOMES
2000 or Newer 16.6
1970 - 1999 52.2
1940 - 1969 21.3
1939 or Older 9.8

Types of Homes

TYPE OF Colchester HOMES
Single-Family 57.8
Townhomes 9.0
Small Apt. Buildings 12.1
Apt. Complexes 13.1
Mobile Homes 8.0
Other 0.0

Home Size

SIZE OF Colchester HOMES
No Bedroom 1.16
1 Bedroom 7.13
2 Bedrooms 36.49
3 Bedrooms 39.31
4 Bedrooms 12.63
5 or more bedrooms 3.27

Colchester Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VT*
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
69.85% 3.17% 5 8
* 10 is highest