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GOODYEAR HOUSING MARKET INFORMATION
With 79,858 people, 23,413 houses or apartments, and a median cost of homes of $305,023, Goodyear real estate is some of the most expensive in Arizona, although Goodyear home values aren’t among America’s most expensive.
Single-family detached homes are the single most common housing type in Goodyear, accounting for 91.25% of the city’s housing units. Other types of housing that are prevalent in Goodyear include large apartment complexes or high rise apartments ( 5.91%), duplexes, homes converted to apartments or other small apartment buildings ( 1.28%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Goodyear. Owner-occupied housing accounts for 68.51% of Goodyear’s homes, and 70.90% have either three or four bedrooms, which is average sized relative to America.
Goodyear homes and real estate are some of the newest in America. 74.73% of Goodyear’s housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Goodyear real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 21.81%), and between 1940-1969 ( 3.23%).
Vacant housing appears to be an issue in Goodyear. Fully 12.35% of the housing stock is classified as vacant. Left unchecked, vacant Goodyear homes and apartments can be a drag on the real estate market, holding Goodyear 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.
GOODYEAR HOME APPRECIATION RATES
Real estate appreciation rates in Goodyear’s have tracked to near the national average over the last then years, with the annual appreciation rate averaging 1.06% during the period.
Appreciation rates are so strong in Goodyear that despite a nationwide downturn in the housing market, Goodyear real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Goodyear appreciation rates continue to be some of the highest in America, at 7.84%, which is higher than appreciation rates in 81.51% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Goodyear. Goodyear appreciation rates in the latest quarter were at 2.23%, which equates to an annual appreciation rate of 9.21%.
Relative to Arizona, our data show that Goodyear’s latest annual appreciation rate is higher than 60% of the other cities and towns in Arizona.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Goodyear differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Goodyear – 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 Goodyear real estate investment or home purchase decisions.
Information provided by: https://www.neighborhoodscout.com/az/goodyear/real-estate