Southington, CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Southington Neighborhoods Since 2000




Southington, 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

Southington Housing Market Information

With 43,817 people, 17,082 houses or apartments, and a median cost of homes of $272,099, Southington real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Southington, accounting for 70.85% of the town's housing units. Other types of housing that are prevalent in Southington include large apartment complexes or high rise apartments ( 10.30%), duplexes, homes converted to apartments or other small apartment buildings ( 9.00%), and a few row houses and other attached homes ( 7.34%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Southington. Owner-occupied housing accounts for 82.63% of Southington's homes, and 65.55% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Southington 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 Southington built between 1940-1969 ( 35.22%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.93%). There's also some housing in Southington built before 1939 ( 10.76%).

Southington Home Appreciation Rates

Southington's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Southington during the period has been just -1.38%, which is lower than 80% of US communities.

Over the last year, Southington appreciation rates have trailed the rest of the nation. In the last twelve months, Southington's appreciation rate has been 0.55%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Southington were at -1.07%, which equates to an annual appreciation rate of -4.22%.

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

Relative to Connecticut, our data show that Southington's latest annual appreciation rate is higher than 60% 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 Southington differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Southington - 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 Southington real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$272,099

Southington, CT HOME PRICES

Value Range
> $1,000,000 0.4
$750,001 - $1,000,000 0.6
$501,001 - $750,000 5.8
$400,001 - $501,000 9.4
$300,001 - $400,000 23.6
$200,001 - $300,000 35.3
$100,001 - $200,000 19.5
$50,001 - $100,000 2.1
$0 - $50,000 3.4

Average for CT
Very High for Nation

Value Relative to Nation Value Relative to State
19.494902144615 53.8461538461538

Number Of Homes And Apartments:
17,082

Southington 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
36.69% 1.83% 9 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,279 / per month

Homeownership Rate

Homeownership
Owners 82.63
Renters 17.37
Vacant 5.29

Housing Market Details

 

Age of Homes

AGE OF Southington HOMES
2000 or Newer 12.9
1970 - 1999 41.1
1940 - 1969 35.2
1939 or Older 10.8

Types of Homes

TYPE OF Southington HOMES
Single-Family 70.8
Townhomes 7.3
Small Apt. Buildings 9.0
Apt. Complexes 10.3
Mobile Homes 2.5
Other 0.0

Home Size

SIZE OF Southington HOMES
No Bedroom 0.91
1 Bedroom 6.27
2 Bedrooms 24.72
3 Bedrooms 47.22
4 Bedrooms 18.33
5 or more bedrooms 2.56