Griswold appreciation rates and housing market information
Griswold housing market information
With a population of 11,927, 4,646 total housing units (homes and apartments), and a median house value of $201,068, Griswold real estate values are some of the lowest in Connecticut, although compared to real estate around the nation, Griswold homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Griswold, accounting for 66.50% of the town's housing units. Other types of housing that are prevalent in Griswold include duplexes, homes converted to apartments or other small apartment buildings (17.96%), large apartment complexes or high rise apartments (9.78%), and a few mobile homes or trailers (3.76%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Griswold. Owner-occupied housing accounts for 73.74% of Griswold's homes, and 57.33% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Griswold built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Griswold built between 1940-1969 (24.36%). A lesser amount of the housing stock also hails from before 1939 (21.17%). There's also some housing in Griswold built between 2000 and later (11.21%).
Vacant housing appears to be an issue in Griswold. Fully 10.66% of the housing stock is classified as vacant. Left unchecked, vacant Griswold homes and apartments can be a drag on the real estate market, holding Griswold 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.
Griswold home appreciation rates
In the last 10 years, Griswold has experienced some of the highest home appreciation rates of any community in the nation. Griswold real estate appreciated 34.21% over the last ten years, which is an average annual home appreciation rate of 2.99%, putting Griswold in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Griswold definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Griswold appreciation rates have trailed the rest of the nation. In the last twelve months, Griswold's appreciation rate has been -0.85%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Griswold were at -0.67%, which equates to an annual appreciation rate of -2.66%.
Relative to Connecticut, our data show that Griswold's latest annual appreciation rate is lower than 60% of the other cities and towns in Connecticut.