Appreciation for MSAs:.

Let's start by comparing Elmira, New York to the rest of the state. This will give us an idea if the appreciation here was isolated or happened across the state.

We have appreciattion of + 16.44% (+ 4.11% yearly) for the Elmira, New York MSA.

The entire state of NY had + 55.73% appreciation (+ 13.93% yearly). The state average for New York was higher than the real estate appreciation in the Elmira, New York MSA. This means the conditions in the MSA for real estate investment were worse by +238.96%.

Elmira-NY

YearQuarterPrice IndexQuarter Increase or DecreaseAnnualized
2002 2 119.34 - 0.29% - 1.17%
2002 3 121.02 + 1.41% + 5.63%
2002 4 125.3 + 3.54% + 14.15%
2003 1 125.77 + 0.38% + 1.50%
2003 2 124.07 - 1.35% - 5.41%
2003 3 127.52 + 2.78% + 11.12%
2003 4 125.13 - 1.87% - 7.50%
2004 1 130.41 + 4.22% + 16.88%
2004 2 130.01 - 0.31% - 1.23%
2004 3 136.23 + 4.78% + 19.14%
2004 4 135.44 - 0.58% - 2.32%
2005 1 136.5 + 0.78% + 3.13%
2005 2 136.12 - 0.28% - 1.11%
2005 3 134.73 - 1.02% - 4.08%
2005 4 139.37 + 3.44% + 13.78%


There are a lot of ways to use the appreciation data for Elmira, New York .

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

Appreciation is an important factor in flipping properties. If appreciation rates are good this area may be prime for fixing up and flipping houses. If you need information on Hard Money Rehab Loans in Chemung, New York 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 $107,000.00 in 2002, you could multiply by + 16.44%, add the gain and see the home should be worth $124,593.45 in 2005. Home value is an important part of every mortgage transaction.


Average YEARLY Real Estate Appreciation for Elmira-NY from 2002 to 2005:
+ 4.11%

Appreciation Comparisons

The top 5 performing MSAs from 2002 to 2005 were Bakersfield-CA, Fresno-CA, Madera-CA, Riverside-San-Bernardino-Ontario-CA, and Yuba-City-CA .

  1. Bakersfield-CA increased +116.36% from 2002 to the end of 2005
  2. Fresno-CA increased +116.09% from 2002 to the end of 2005
  3. Madera-CA increased +114.32% from 2002 to the end of 2005
  4. Riverside-San-Bernardino-Ontario-CA increased +112.60% from 2002 to the end of 2005
  5. Yuba-City-CA increased +108.89% from 2002 to the end of 2005

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

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