Groton, CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Groton, CT Real Estate Data


Groton Housing Market Information

With a population of 29,958, 16,260 total housing units (homes and apartments), and a median house value of $231,028, Groton real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Groton, accounting for 46.30% of the town's housing units. Other types of housing that are prevalent in Groton include large apartment complexes or high rise apartments ( 25.65%), duplexes, homes converted to apartments or other small apartment buildings ( 16.96%), and a few row houses and other attached homes ( 8.41%).

People in Groton primarily live in small (one, two or no bedroom) single-family detached homes. Groton has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Groton 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 Groton built between 1940-1969 ( 28.76%). A lesser amount of the housing stock also hails from before 1939 ( 16.14%). There's also some housing in Groton built between 2000 and later ( 14.17%).

Vacant housing appears to be an issue in Groton. Fully 12.14% of the housing stock is classified as vacant. Left unchecked, vacant Groton homes and apartments can be a drag on the real estate market, holding Groton real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Groton Home Appreciation Rates

Homes have actually lost value in Groton over the last then years, as home values have seen a decline of 20.33% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Groton home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.66%.

Over the last year, Groton appreciation rates have trailed the rest of the nation. In the last twelve months, Groton's appreciation rate has been 1.69%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Groton were at 0.66%, which equates to an annual appreciation rate of 2.66%.

Relative to Connecticut, our data show that Groton's latest annual appreciation rate is higher 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 Groton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Groton - 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 Groton real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$231,028

Groton, CT HOME PRICES

Value Range
> $1,027,000 0.7
$770,001 - $1,027,000 2.1
$513,001 - $770,000 5.0
$411,001 - $513,000 6.6
$308,001 - $411,000 11.1
$205,001 - $308,000 32.9
$103,001 - $205,000 30.9
$51,001 - $103,000 7.3
$0 - $51,000 2.9

Low for CT
High for Nation

Value Relative to Nation Value Relative to State
25.3662252431736 74.5562130177515

Number Of Homes And Apartments:
16,260

Rent & Ownership

 

Average Market Rent:
$1,353 / per month

Homeownership Rate

Homeownership
Owners 44.32
Renters 55.68
Vacant 12.14

Housing Market Details

 

Age of Homes

AGE OF Groton HOMES
2000 or Newer 14.2
1970 - 1999 40.9
1940 - 1969 28.8
1939 or Older 16.1

Types of Homes

TYPE OF Groton HOMES
Single-Family 46.3
Townhomes 8.4
Small Apt. Buildings 17.0
Apt. Complexes 25.6
Mobile Homes 2.7
Other 0.0

Home Size

SIZE OF Groton HOMES
No Bedroom 2.29
1 Bedroom 14.57
2 Bedrooms 34.32
3 Bedrooms 32.51
4 Bedrooms 14.15
5 or more bedrooms 2.17

Groton Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
35.80% 1.79% 8 4
* 10 is highest