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Litchfield, CT Real Estate Market

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 Q2 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Litchfield, CT Housing Market Trends

With a population of 8,192, 3,371 total housing units (homes and apartments), and a median house value of $472,240, real estate costs in Litchfield are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Connecticut communities.

Single-family detached homes are the single most common housing type in Litchfield, accounting for 80.67% 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 ( 8.84%), large apartment complexes or high rise apartments ( 6.86%), and a few row houses and other attached homes ( 3.62%).

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 77.44% of Litchfield's homes, and 63.25% 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 between 1940-1969 ( 32.28%). A lesser amount of the housing stock also hails from before 1939 ( 25.25%). There's also some housing in Litchfield built between 2000 and later ( 7.37%).

Vacant housing appears to be an issue in Litchfield. Fully 18.56% 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

Some of the lowest real estate appreciation rates in America over the last ten years have been in Litchfield, where house values have increased just 32.90%, which is annualized rate of 2.89%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

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 10.73%, 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 3.67%, which equates to an annual appreciation rate of 15.51%.

Relative to Connecticut, our data show that Litchfield's latest annual appreciation rate is higher than 50% of the other cities and towns in Connecticut.

Average Home Values

 

Median Home Value:
$472,240

Litchfield, CT HOME PRICES

> $1,339,000
$1,004,001 - $1,339,000
$670,001 - $1,004,000
$536,001 - $670,000
$402,001 - $536,000
$268,001 - $402,000
$134,001 - $268,000
$67,001 - $134,000
$0 - $67,000
4.1%
4.1%
3.9%
3.9%
11.6%
11.6%
11.6%
11.6%
21.2%
21.2%
33.1%
33.1%
13.2%
13.2%
0.1%
0.1%
1.1%
1.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for CT

Value Relative To Nation

Number Of Homes And Apartments:
3,371

Litchfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2022 Q1 - 2022 Q2
Last 12 Months:
2021 Q2 - 2022 Q2
Last 2 Years:
2020 Q2 - 2022 Q2
Last 5 Years:
2017 Q2 - 2022 Q2
Last 10 Years:
2012 Q2 - 2022 Q2
Since 2000:
2000 Q1 - 2022 Q2
83.57% 2.74%
8
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,729 / per month

Homeownership Rate

Owners
Renters
Vacant
77.4%
77.4%
22.6%
22.6%
18.6%
18.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
7.4%
7.4%
35.1%
35.1%
32.3%
32.3%
25.2%
25.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
80.7%
80.7%
3.6%
3.6%
8.8%
8.8%
6.9%
6.9%
0.0%
0.0%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.2%
2.2%
9.8%
9.8%
18.1%
18.1%
44.0%
44.0%
19.3%
19.3%
6.6%
6.6%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Litchfield

Zip Codes in Litchfield, CT