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 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

Greenwich Housing Market Information

With a population of 62,855, 22,284 total housing units (homes and apartments), and a median house value of $1,513,339, 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 64.02% 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 ( 14.87%), large apartment complexes or high rise apartments ( 13.78%), and a few row houses and other attached homes ( 7.07%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Greenwich. Owner-occupied housing accounts for 65.95% of Greenwich's homes, and 46.72% 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. Greenwich's housing was primarily built during this period, from the '40s through the '60s. A full 35.09% of the town's housing hails from this era. Other housing ages represented in Greenwich include homes built before 1939 ( 28.02%) and housing constructed between 1970-1999 ( 26.71%). There's also some housing in Greenwich built between 2000 and later ( 10.18%).

Greenwich Home Appreciation Rates

Appreciation rates for homes in Greenwich have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 13.39%, which ranks in the top 50% nationwide. This equates to an annual average Greenwich house appreciation rate of 1.26%.

NeighborhoodScout's data show that during the latest twelve months, Greenwich's appreciation rate, at 5.18%, has been at or slightly above the national average. In the latest quarter, Greenwich's appreciation rate has been 0.88%, which annualizes to a rate of 3.58%.

Relative to Connecticut, our data show that Greenwich's latest annual appreciation rate is higher than 80% 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:
$1,513,339

Greenwich, CT HOME PRICES

Value Range
> $1,062,000 60.0
$797,001 - $1,062,000 13.0
$531,001 - $797,000 15.2
$425,001 - $531,000 3.1
$319,001 - $425,000 3.3
$213,001 - $319,000 2.1
$106,001 - $213,000 1.7
$53,001 - $106,000 0.5
$0 - $53,000 1.1

Very High for CT
Very High for Nation

Value Relative to Nation Value Relative to State
0.461313868613139 0.591715976331361

Number Of Homes And Apartments:
22,284

Greenwich Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
74.96% 2.95%
10
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,497 / per month

Homeownership Rate

Homeownership
Owners 65.95
Renters 34.05
Vacant 9.48

Housing Market Details

 

Age of Homes

AGE OF Greenwich HOMES
2000 or Newer 10.2
1970 - 1999 26.7
1940 - 1969 35.1
1939 or Older 28.0

Types of Homes

TYPE OF Greenwich HOMES
Single-Family 64.0
Townhomes 7.1
Small Apt. Buildings 14.9
Apt. Complexes 13.8
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Greenwich HOMES
No Bedroom 1.58
1 Bedroom 10.20
2 Bedrooms 19.12
3 Bedrooms 24.86
4 Bedrooms 21.86
5 or more bedrooms 22.37