Somers appreciation rates and housing market information

Somers housing market information

With 10,417 people, 3,012 houses or apartments, and a median cost of homes of $386,800, real estate costs in Somers are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Connecticut communities.

single-family detached homes are the single most common housing type in Somers, accounting for 90.21% of the town's housing units. Other types of housing that are prevalent in Somers include duplexes, homes converted to apartments, or other small apartment buildings (7.24%), large apartment complexes or high rise apartments (1.96%), and a few row houses and other attached homes (0.60%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Somers. Owner-occupied housing accounts for 84.69% of Somers's homes, and 75.70% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Somers built from 1970-1994, 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 Somers built from 1940-1969 (36.75%). A lesser amount of the housing stock also hails from 1939 and earlier (16.73%), and some were built from 1995 and later (16.73%).

Somers home appreciation rates

Appreciation rates for homes in Somers have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 87.61%, which ranks in the top 40% nationwide. This equates to an annual average Somers house appreciation rate of 8.76%.

Over the last year, Somers appreciation rates have trailed the rest of the nation. In the last twelve months, Somers's appreciation rate has been -0.16%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Somers were at -1.00%, which equates to an annual appreciation rate of -4.00%.

Relative to Connecticut, our data show that Somers's latest annual appreciation rate is higher than 82% of the other cities and towns in Connecticut.