Somers, CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Somers Neighborhoods Since 2000




Somers, 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

Somers Housing Market Information

With 11,432 people, 3,378 houses or apartments, and a median cost of homes of $294,717, Somers real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Somers, accounting for 88.27% of the town's housing units. Other types of housing that are prevalent in Somers include duplexes, homes converted to apartments or other small apartment buildings ( 6.48%), large apartment complexes or high rise apartments ( 3.31%), and a few row houses and other attached homes ( 1.95%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Somers. Owner-occupied housing accounts for 68.73% of Somers's homes, and 75.92% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Somers 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 Somers built between 1940-1969 ( 28.91%). A lesser amount of the housing stock also hails from before 1939 ( 16.01%). There's also some housing in Somers built between 2000 and later ( 11.23%).

Somers Home Appreciation Rates

Somers's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Somers during the period has been just -1.55%, which is lower than 80% of US communities.

Over the last year, Somers appreciation rates have trailed the rest of the nation. In the last twelve months, Somers's appreciation rate has been 2.52%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Somers were at -1.07%, which equates to an annual appreciation rate of -4.22%.

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

Relative to Connecticut, our data show that Somers's latest annual appreciation rate is higher than 80% of the other cities and towns in Connecticut.

Average Home Values

 

Median Home Value:
$294,717

Somers, CT HOME PRICES

Value Range
> $1,009,000 1.0
$757,001 - $1,009,000 0.1
$505,001 - $757,000 4.7
$404,001 - $505,000 11.6
$303,001 - $404,000 35.2
$202,001 - $303,000 37.1
$101,001 - $202,000 7.9
$50,001 - $101,000 1.0
$0 - $50,000 1.4

Average for CT
Very High for Nation

Value Relative to Nation Value Relative to State
16.7584671276222 40.8284023668639

Number Of Homes And Apartments:
3,378

Somers 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
33.52% 1.69% 8 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,399 / per month

Homeownership Rate

Homeownership
Owners 68.73
Renters 31.27
Vacant 6.09

Housing Market Details

 

Age of Homes

AGE OF Somers HOMES
2000 or Newer 11.2
1970 - 1999 43.8
1940 - 1969 28.9
1939 or Older 16.0

Types of Homes

TYPE OF Somers HOMES
Single-Family 88.3
Townhomes 1.9
Small Apt. Buildings 6.5
Apt. Complexes 3.3
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Somers HOMES
No Bedroom 0.00
1 Bedroom 3.84
2 Bedrooms 15.87
3 Bedrooms 45.32
4 Bedrooms 30.61
5 or more bedrooms 4.36