Simsbury, CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Simsbury, 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

Simsbury Housing Market Information

With 24,348 people, 8,805 houses or apartments, and a median cost of homes of $319,720, real estate costs in Simsbury 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 Simsbury, accounting for 80.32% of the town's housing units. Other types of housing that are prevalent in Simsbury include large apartment complexes or high rise apartments ( 9.46%), row houses and other attached homes ( 5.32%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.90%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Simsbury. Owner-occupied housing accounts for 83.94% of Simsbury's homes, and 67.27% 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. Simsbury's housing was primarily built during this period, from the '40s through the '60s. A full 43.77% of the town's housing hails from this era. Other housing ages represented in Simsbury include homes built between 1970-1999 ( 42.86%) and housing constructed before 1939 ( 9.04%). There's also some housing in Simsbury built between 2000 and later ( 4.33%).

Simsbury Home Appreciation Rates

Simsbury's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Simsbury during the period has been just -1.65%, which is lower than 80% of US communities.

Over the last year, Simsbury appreciation rates have trailed the rest of the nation. In the last twelve months, Simsbury's appreciation rate has been 0.07%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Simsbury were at -1.07%, which equates to an annual appreciation rate of -4.22%.

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

Relative to Connecticut, our data show that Simsbury's latest annual appreciation rate is higher than 50% 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 Simsbury differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Simsbury - 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 Simsbury real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$319,720

Simsbury, CT HOME PRICES

Value Range
> $993,000 1.3
$745,001 - $993,000 2.4
$496,001 - $745,000 10.5
$398,001 - $496,000 12.7
$298,001 - $398,000 33.2
$198,001 - $298,000 27.8
$99,001 - $198,000 9.9
$50,001 - $99,000 0.7
$0 - $50,000 1.4

High for CT
Very High for Nation

Value Relative to Nation Value Relative to State
14.5845540841439 33.1360946745562

Number Of Homes And Apartments:
8,805

Simsbury 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
18.65% 1.00% 2 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,303 / per month

Homeownership Rate

Homeownership
Owners 83.94
Renters 16.06
Vacant 4.79

Housing Market Details

 

Age of Homes

AGE OF Simsbury HOMES
2000 or Newer 4.3
1970 - 1999 42.9
1940 - 1969 43.8
1939 or Older 9.0

Types of Homes

TYPE OF Simsbury HOMES
Single-Family 80.3
Townhomes 5.3
Small Apt. Buildings 4.9
Apt. Complexes 9.5
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Simsbury HOMES
No Bedroom 1.87
1 Bedroom 5.20
2 Bedrooms 17.42
3 Bedrooms 27.41
4 Bedrooms 39.86
5 or more bedrooms 8.24