Greenwich CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Greenwich, 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 Q1 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Greenwich Housing Market Information

With 62,727 people, 22,251 houses or apartments, and a median cost of homes of $1,575,705, Greenwich house prices are not only among the most expensive in Connecticut, Greenwich real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Greenwich, accounting for 63.85% of the town's housing units. Other types of housing that are prevalent in Greenwich include duplexes, homes converted to apartments or other small apartment buildings ( 15.09%), large apartment complexes or high rise apartments ( 13.66%), and a few row houses and other attached homes ( 7.18%).

The most prevalent building size and type in Greenwich are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 64.85% owning and 35.15% renting.

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. Greenwich's housing was primarily built during this period, from the '40s through the '60s. A full 36.24% of the town's housing hails from this era. Other housing ages represented in Greenwich include homes built before 1939 ( 26.96%) and housing constructed between 1970-1999 ( 26.09%). There's also some housing in Greenwich built between 2000 and later ( 10.72%).

Greenwich Home Appreciation Rates

Real estate appreciation rates in Greenwich's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.03% during the period.

Over the last year, Greenwich appreciation rates have trailed the rest of the nation. In the last twelve months, Greenwich's appreciation rate has been 2.83%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Greenwich were at 0.16%, which equates to an annual appreciation rate of 0.65%.

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

Relative to Connecticut, our data show that Greenwich's latest annual appreciation rate is lower than 60% of the other cities and towns in Connecticut.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Greenwich differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Greenwich - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Greenwich real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$1,575,705

Greenwich, CT HOME PRICES

Value Range
> $1,048,000 57.5
$786,001 - $1,048,000 13.8
$524,001 - $786,000 16.3
$419,001 - $524,000 4.5
$315,001 - $419,000 3.2
$209,001 - $315,000 1.9
$105,001 - $209,000 1.6
$53,001 - $105,000 0.3
$0 - $53,000 0.9

Very High for CT
Very High for Nation

Value Relative to Nation Value Relative to State
0.44963503649635 0.591715976331361

Number Of Homes And Apartments:
22,251

Greenwich Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
Since 2000:
2000 Q1 - 2020 Q1
73.74% 2.77%
10
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,505 / per month

Homeownership Rate

Homeownership
Owners 64.85
Renters 35.15
Vacant 8.18

Housing Market Details

 

Age of Homes

AGE OF Greenwich HOMES
2000 or Newer 10.7
1970 - 1999 26.1
1940 - 1969 36.2
1939 or Older 27.0

Types of Homes

TYPE OF Greenwich HOMES
Single-Family 63.8
Townhomes 7.2
Small Apt. Buildings 15.1
Apt. Complexes 13.7
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Greenwich HOMES
No Bedroom 1.59
1 Bedroom 10.77
2 Bedrooms 18.46
3 Bedrooms 24.65
4 Bedrooms 22.56
5 or more bedrooms 21.96