Appreciation for MSAs:.

Before we disect the appreciation within the MSA for this period, lets consider how Elmira, New York did compared to the state as a whole.

The Elmira, New York MSA property value change was + 14.27% (+ 3.57% yearly).

All of the property in NY averaged + 27.84% change in value (+ 6.96% yearly).

Elmira-NY

YearQuarterPrice IndexQuarter Increase or DecreaseAnnualized
1997 2 103.59 + 5.18% + 20.71%
1997 3 105.3 + 1.65% + 6.60%
1997 4 104.03 - 1.21% - 4.82%
1998 1 105.75 + 1.65% + 6.61%
1998 2 105.65 - 0.09% - 0.38%
1998 3 105.65 + 0.00% + 0.00%
1998 4 105.34 - 0.29% - 1.17%
1999 1 109.8 + 4.23% + 16.94%
1999 2 105.3 - 4.10% - 16.39%
1999 3 108.6 + 3.13% + 12.54%
1999 4 107.48 - 1.03% - 4.13%
2000 1 111.56 + 3.80% + 15.18%
2000 2 113.28 + 1.54% + 6.17%
2000 3 114.92 + 1.45% + 5.79%
2000 4 112.54 - 2.07% - 8.28%


Lets look at Chemung, New York, a city located in Elmira, New York MSA.

Appreciation is an important to real estate investors who rehab and flip properties. If you feel appreciation rates are good in this area there may be a good opportunity to flip houses. To learn more about Hard Money Real Estate Loans check out Spec-Loan.com

If you were going to do a Chemung, New York Refinance, or Chemung, New York Reverse Mortgages, you could estimate your home value.

If you knew your Chemung, New York home was worth $97,000.00 in 1997, you could multiply by + 14.27%, add the gain and see the home should be worth $110,837.45 in 2000. Home value is an important part of every mortgage transaction.


Average YEARLY Real Estate Appreciation for Elmira-NY from 1997 to 2000:
+ 3.57%

Appreciation Comparisons

The worst 5 MSAs from 1997 to 2000 were Honolulu-HI, Williamsport-PA, Buffalo-Niagara-Falls-NY, Lewiston-ID-WA, and Midland-TX .

  1. Honolulu-HI decreased by - 1.70% between 1997 and 2000
  2. Williamsport-PA only increased + 2.60% between 1997 and 2000
  3. Buffalo-Niagara-Falls-NY only increased + 3.06% between 1997 and 2000
  4. Lewiston-ID-WA only increased + 3.08% between 1997 and 2000
  5. Midland-TX only increased + 3.25% between 1997 and 2000

For a 4 year period, the top 5 performing MSAs of all time are Bakersfield-CA, Fresno-CA, Madera-CA, Riverside-San-Bernardino-Ontario-CA, and Bakersfield-CA .

  1. Bakersfield-CA increased +116.36% from 2002 thru 2005
  2. Fresno-CA increased +116.09% from 2002 thru 2005
  3. Madera-CA increased +114.32% from 2002 thru 2005
  4. Riverside-San-Bernardino-Ontario-CA increased +112.60% from 2002 thru 2005
  5. Bakersfield-CA increased +110.89% from 2003 thru 2006

The worst perfoming MSAs ever for a 4 year period, were Lafayette-LA, Grand-Junction-CO, Lafayette-LA, Casper-WY, and Casper-WY .

  1. Lafayette-LA lost - 34.71% from 1985 to 1988
  2. Grand-Junction-CO lost - 34.70% from 1982 thru 1985
  3. Lafayette-LA lost - 34.44% from 1984 thru 1987
  4. Casper-WY lost - 34.10% from 1983 thru 1986
  5. Casper-WY lost - 32.07% from 1984 thru 1987

Zip Code in MSA: 14825 - CHEMUNG, NY

MSA Pop: 90413
Zip Pop: 918
Avg Value: 62200
County: CHEMUNG
Elev: 873
Region: Northeast
Lat: 42.047481
Long: -76.61873