Berlin CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Berlin, CT Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Berlin Housing Market Information

With 20,432 people, 8,207 houses or apartments, and a median cost of homes of $283,599, 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 78.52% 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 ( 9.62%), large apartment complexes or high rise apartments ( 8.41%), and a few row houses and other attached homes ( 3.09%).

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 84.98% of Berlin's homes, and 72.00% 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 ( 34.28%). A lesser amount of the housing stock also hails from before 1939 ( 15.10%). There's also some housing in Berlin built between 2000 and later ( 14.35%).

Berlin Home Appreciation Rates

Homes have actually lost value in Berlin over the last then years, as home values have seen a decline of 2.99% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Berlin home appreciation rates at 1.38%, which equates to an annual appreciation rate of 5.62%.

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 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 Berlin were at 1.38%, which equates to an annual appreciation rate of 5.62%.

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:
$283,599

Berlin, CT HOME PRICES

Value Range
> $1,025,000 0.6
$769,001 - $1,025,000 0.4
$513,001 - $769,000 5.4
$410,001 - $513,000 8.6
$308,001 - $410,000 25.9
$205,001 - $308,000 42.7
$103,001 - $205,000 12.8
$52,001 - $103,000 0.2
$0 - $52,000 3.5

Average for CT
High for Nation

Value Relative to Nation Value Relative to State
22.4642335766423 53.8461538461538

Number Of Homes And Apartments:
8,207

Berlin Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
Since 2000:
2000 Q1 - 2019 Q3
32.20% 1.42%
5
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,317 / per month

Homeownership Rate

Homeownership
Owners 84.98
Renters 15.02
Vacant 3.79

Housing Market Details

 

Age of Homes

AGE OF Berlin HOMES
2000 or Newer 14.3
1970 - 1999 36.3
1940 - 1969 34.3
1939 or Older 15.1

Types of Homes

TYPE OF Berlin HOMES
Single-Family 78.5
Townhomes 3.1
Small Apt. Buildings 9.6
Apt. Complexes 8.4
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Berlin HOMES
No Bedroom 0.00
1 Bedroom 7.42
2 Bedrooms 17.48
3 Bedrooms 53.00
4 Bedrooms 19.00
5 or more bedrooms 3.09