The housing market in Velva, ND has been steadily appreciating over the past year. The median value of a home in Velva is currently $184,600, which is significantly lower than the US median value of $338,100. Despite this difference in prices, the house appreciation rate in Velva is 9.41%, which is even higher than the US rate of 8.27%. This suggests that homes in Velva are becoming more desirable and valuable at a rate faster than the US average. As such, it may be an attractive option for those seeking to invest in real estate or purchase a home at an affordable price.
The median home cost in Velva is $184,600. Home appreciation the last 10 years has been 51.1%. Home Appreciation in Velva is up 10.5%.
Average Age of Homes
- The median age of Velva real estate is 58 years old
The Rental Market in Velva
- Renters make up 30.5% of the Velva population
- 5.8% of houses and apartments in Velva, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.