Litchfield, CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Litchfield Neighborhoods Since 2000




Litchfield, CT Real Estate Data


Litchfield Housing Market Information

With 8,212 people, 3,454 houses or apartments, and a median cost of homes of $303,788, 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 76.50% 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 ( 10.80%), large apartment complexes or high rise apartments ( 7.15%), and a few row houses and other attached homes ( 4.87%).

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 75.98% of Litchfield's homes, and 59.46% 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 ( 32.31%). A lesser amount of the housing stock also hails from between 1940-1969 ( 26.36%). There's also some housing in Litchfield built between 2000 and later ( 7.06%).

Vacant housing appears to be an issue in Litchfield. Fully 17.09% 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

Litchfield's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Litchfield during the period has been just -1.77%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Litchfield's appreciation rate, at 5.34%, has been at or slightly above the national average. In the latest quarter, Litchfield's appreciation rate has been -0.84%, which annualizes to a rate of -3.33%.

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 higher than 90% of the other cities and towns in Connecticut.

Average Home Values

 

Median Home Value:
$303,788

Litchfield, CT HOME PRICES

Value Range
> $1,005,000 2.5
$754,001 - $1,005,000 6.4
$503,001 - $754,000 8.9
$402,001 - $503,000 10.0
$301,001 - $402,000 21.7
$201,001 - $301,000 31.3
$101,001 - $201,000 16.8
$50,001 - $101,000 0.1
$0 - $50,000 2.3

Average for CT
Very High for Nation

Value Relative to Nation Value Relative to State
16.5544299350003 43.1952662721894

Number Of Homes And Apartments:
3,454

Rent & Ownership

 

Average Market Rent:
$1,250 / per month

Homeownership Rate

Homeownership
Owners 75.98
Renters 24.02
Vacant 17.09

Housing Market Details

 

Age of Homes

AGE OF Litchfield HOMES
2000 or Newer 7.1
1970 - 1999 34.3
1940 - 1969 26.4
1939 or Older 32.3

Types of Homes

TYPE OF Litchfield HOMES
Single-Family 76.5
Townhomes 4.9
Small Apt. Buildings 10.8
Apt. Complexes 7.2
Mobile Homes 0.7
Other 0.0

Home Size

SIZE OF Litchfield HOMES
No Bedroom 1.08
1 Bedroom 11.02
2 Bedrooms 22.20
3 Bedrooms 39.46
4 Bedrooms 20.00
5 or more bedrooms 6.24

Litchfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
40.89% 2.04% 9 5
* 10 is highest