Just like other parts of the US, the real estate market in Depew, NY has largely recovered from the subprime mortgage crisis. Nevertheless, Depew is a small town with a population of about 15,000 people, according to figures published by city-data.com. For this reason, property prices are not as high as in other parts of the country. Keep reading to learn more about the real estate market in Depew NY.
Property Price Overview
According to data published by Trulia.com, the median sales price for residential properties in Depew stood at 112,975 from July 15 to October 15 2015. Sadly, this represents an 8.9 decline in median house prices compared to the previous quarter. On the other hand, the average listing price for residential properties stood at 141,668 at the end of October 2015. However, property-listing prices vary largely depending on the number of bedrooms. The average listing price for a 2-bedroom house is 122,036, whereas a 3-bedroom house will set you back 130,820. For 4-bedroom houses, the average listing price is 156,529.
In general, the real estate market in Depew has been on an upward trend since 2000. Data from Trulia shows that the average price per square foot for all properties in Depew was about 60 in 2000. In 2015, the average price per square foot of residential property space stands at about 90. Even during the subprime mortgage crisis, square footage prices never dipped below 60. This means investors and aspiring homeowners are more or less guaranteed positive ROI if they purchase Depew, NY residential properties.
Depew is a relatively safe town compared to other urban centers in the US. The violent crime rate stands at 1.18 per 1,000 residents. In comparison, the national median (violent crime) is 3.8 per 1,000 residents. For instance, murder is virtually non-existent with a rate of 0.00 per 1,000 residents while the robbery rate stands at 0.13 per 1,000 residents, according to the FBI figures. In comparison, the national murder rate stands at 0.04 per 1,000 residents while the robbery rate is 1.09 per 1,000 residents.The burglary rate is also lower (3.61 per 1,000 residents) than the national average (6.10 per 1,000 residents).These statistics show that Depew, NY is the right place to raise a family without worrying about their safety.
For parents with young school going kids, Depew, NY is the right place to settle down. Data from greatschools.org shows that Depew schools have a rating of 7 out of 10. Top rated schools in this town include John A Sciole Elementary School, Depew High School, Depew Middle School, and Cayuga Heights Elementary School. It is worth noting that 90.6 of Depew residents have graduated from high school. In addition, 18.9 have earned bachelor’s degree qualifications or higher while 5.9 have earned graduate or professional degrees.
If you would like to settle in a safe town with affordable residential properties, consider Depew NY. With a budget of about 100,000 to 130,000, you can get a nice 2 or 3-bedroomed house. New residents with young kids can enroll them in great schools such as Cayuga Heights Elementary School or Depew High School. If you would like to sell or buy a home in this city, call Arcane Properties at 716-800-1414.