Litchfield, CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Litchfield Neighborhoods Since 2000




Litchfield, 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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Litchfield Housing Market Information

With 8,212 people, 3,441 houses or apartments, and a median cost of homes of $290,794, Litchfield real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Litchfield, accounting for 77.16% of the town's housing units. Other types of housing that are prevalent in Litchfield include duplexes, homes converted to apartments or other small apartment buildings ( 9.23%), large apartment complexes or high rise apartments ( 7.95%), and a few row houses and other attached homes ( 5.32%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Litchfield. Owner-occupied housing accounts for 77.39% of Litchfield's homes, and 61.21% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Litchfield 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 Litchfield built before 1939 ( 29.46%). A lesser amount of the housing stock also hails from between 1940-1969 ( 26.84%). There's also some housing in Litchfield built between 2000 and later ( 8.36%).

Vacant housing appears to be an issue in Litchfield. Fully 17.10% of the housing stock is classified as vacant. Left unchecked, vacant Litchfield homes and apartments can be a drag on the real estate market, holding Litchfield 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.

Litchfield Home Appreciation Rates

Homes have actually lost value in Litchfield over the last then years, as home values have seen a decline of 22.87% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Litchfield home appreciation rates at -3.59%, which equates to an annual appreciation rate of -13.62%.

Over the last year, Litchfield appreciation rates have trailed the rest of the nation. In the last twelve months, Litchfield's appreciation rate has been -6.35%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Litchfield were at -3.59%, which equates to an annual appreciation rate of -13.62%.

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

Relative to Connecticut, our data show that Litchfield's latest annual appreciation rate is lower than 90% of the other cities and towns in Connecticut.

Average Home Values

 

Median Home Value:
$290,794

Litchfield, CT HOME PRICES

Value Range
> $947,000 2.3
$711,001 - $947,000 6.5
$474,001 - $711,000 8.0
$379,001 - $474,000 11.1
$284,001 - $379,000 24.2
$189,001 - $284,000 29.1
$95,001 - $189,000 16.7
$47,001 - $95,000 0.1
$0 - $47,000 1.9

Average for CT
Very High for Nation

Value Relative to Nation Value Relative to State
17.1452009844135 42.0118343195266

Number Of Homes And Apartments:
3,441

Litchfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
29.89% 1.53% 7 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,022 / per month

Homeownership Rate

Homeownership
Owners 77.39
Renters 22.61
Vacant 17.10

Housing Market Details

 

Age of Homes

AGE OF Litchfield HOMES
2000 or Newer 8.4
1970 - 1999 35.3
1940 - 1969 26.8
1939 or Older 29.5

Types of Homes

TYPE OF Litchfield HOMES
Single-Family 77.2
Townhomes 5.3
Small Apt. Buildings 9.2
Apt. Complexes 7.9
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Litchfield HOMES
No Bedroom 1.52
1 Bedroom 10.19
2 Bedrooms 21.08
3 Bedrooms 42.04
4 Bedrooms 19.18
5 or more bedrooms 6.00