Berlin, CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Berlin, CT Real Estate Data


Berlin Housing Market Information

With a population of 20,560, 7,822 total housing units (homes and apartments), and a median house value of $302,811, Berlin real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Berlin, accounting for 76.31% of the town's housing units. Other types of housing that are prevalent in Berlin include duplexes, homes converted to apartments or other small apartment buildings ( 10.67%), large apartment complexes or high rise apartments ( 9.08%), and a few row houses and other attached homes ( 2.80%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Berlin. Owner-occupied housing accounts for 84.96% of Berlin's homes, and 67.33% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Berlin 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 Berlin built between 1940-1969 ( 33.49%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.14%). There's also some housing in Berlin built before 1939 ( 14.02%).

Berlin Home Appreciation Rates

Berlin's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Berlin during the period has been just -1.08%, which is lower than 70% of US communities.

Over the last year, Berlin appreciation rates have trailed the rest of the nation. In the last twelve months, Berlin's appreciation rate has been 2.30%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Berlin were at 0.71%, which equates to an annual appreciation rate of 2.86%.

Notably, Berlin's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Connecticut, our data show that Berlin's latest annual appreciation rate is lower than 70% of the other cities and towns in Connecticut.

Average Home Values

 

Median Home Value:
$302,811

Berlin, CT HOME PRICES

Value Range
> $1,021,000 0.1
$766,001 - $1,021,000 0.5
$511,001 - $766,000 5.7
$408,001 - $511,000 11.6
$306,001 - $408,000 25.7
$204,001 - $306,000 41.9
$102,001 - $204,000 9.3
$51,001 - $102,000 1.0
$0 - $51,000 4.2

Average for CT
Very High for Nation

Value Relative to Nation Value Relative to State
16.618844059261 43.7869822485207

Number Of Homes And Apartments:
7,822

Rent & Ownership

 

Average Market Rent:
$1,128 / per month

Homeownership Rate

Homeownership
Owners 84.96
Renters 15.04
Vacant 4.82

Housing Market Details

 

Age of Homes

AGE OF Berlin HOMES
2000 or Newer 15.1
1970 - 1999 37.4
1940 - 1969 33.5
1939 or Older 14.0

Types of Homes

TYPE OF Berlin HOMES
Single-Family 76.3
Townhomes 2.8
Small Apt. Buildings 10.7
Apt. Complexes 9.1
Mobile Homes 1.1
Other 0.0

Home Size

SIZE OF Berlin HOMES
No Bedroom 0.00
1 Bedroom 8.80
2 Bedrooms 20.18
3 Bedrooms 50.80
4 Bedrooms 16.52
5 or more bedrooms 3.70

Berlin Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
32.49% 1.67% 5 3
* 10 is highest