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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 4,723 people, 1,659 houses or apartments, and a median cost of homes of $802,946, Berryville house prices are not only among the most expensive in Virginia, Berryville real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Berryville, accounting for 72.06% of the town's housing units. Other types of housing that are prevalent in Berryville include row houses and other attached homes ( 14.61%), large apartment complexes or high rise apartments ( 9.80%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.53%).
The most prevalent building size and type in Berryville are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 60.13% owning and 39.87% renting.
Berryville homes and real estate are some of the newest in America. 31.96% of Berryville's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Berryville real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 28.27%), and before 1939 ( 21.95%). There's also some housing in Berryville built between 1940-1969 ( 17.83%).
Vacant housing appears to be an issue in Berryville. Fully 11.19% of the housing stock is classified as vacant. Left unchecked, vacant Berryville homes and apartments can be a drag on the real estate market, holding Berryville 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.
Real estate appreciation rates in Berryville's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.20% during the period.
Appreciation rates are so strong in Berryville that despite a nationwide downturn in the housing market, Berryville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Berryville appreciation rates continue to be some of the highest in America, at 8.56%, which is higher than appreciation rates in 76.40% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Berryville. Berryville appreciation rates in the latest quarter were at 3.11%, which equates to an annual appreciation rate of 13.04%.
Importantly, this makes Berryville 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 Berryville's latest annual appreciation rate is higher than 80% of the other cities and towns in Virginia.
$802,946
$1,751 / per month