Watertown appreciation rates and housing market information

Watertown housing market information

With a population of 21,661, 8,298 total housing units (homes and apartments), and a median house value of $312,500, Watertown real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Watertown, accounting for 75.93% of the town's housing units. Other types of housing that are prevalent in Watertown include duplexes, homes converted to apartments, or other small apartment buildings (14.83%), large apartment complexes or high rise apartments (5.65%), and a few row houses and other attached homes (3.42%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Watertown. Owner-occupied housing accounts for 76.90% of Watertown's homes, and 64.36% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Watertown's housing was primarily built during this period, from the '40s through the '60s. A full 41.60% of the town's housing hails from this era. Other housing ages represented in Watertown include homes built between 1970-1994 (33.61%), and housing constructed from 1939 and earlier (20.36%). There's also some housing in Watertown built between 1995 and later (4.43%).

Watertown home appreciation rates

Appreciation rates for homes in Watertown have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 94.90%, which ranks in the top 40% nationwide. This equates to an annual average Watertown house appreciation rate of 9.49%.

Over the last year, Watertown appreciation rates have trailed the rest of the nation. In the last twelve months, Watertown's appreciation rate has been -1.51%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Watertown were at -1.62%, which equates to an annual appreciation rate of -6.48%.

Relative to Connecticut, our data show that Watertown's latest annual appreciation rate is higher than 41% of the other cities and towns in Connecticut.