Greenwich, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Greenwich Neighborhoods Since 2000




Greenwich, NY 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

Greenwich Housing Market Information

With a population of 1,744, 772 total housing units (homes and apartments), and a median house value of $154,052, Greenwich real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Greenwich, accounting for 62.40% of the village's housing units. Other types of housing that are prevalent in Greenwich include duplexes, homes converted to apartments or other small apartment buildings ( 26.15%), large apartment complexes or high rise apartments ( 8.64%), and a few row houses and other attached homes ( 2.47%).

The most prevalent building size and type in Greenwich are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 54.26% owning and 45.74% renting.

The housing in Greenwich was primarily built before 1939 ( 74.75%), making the housing stock in Greenwich some of the oldest overall in America, although there is a range of ages of homes in Greenwich. The next most important housing age is between 1940-1969 ( 14.48%), followed by between 1970-1999 ( 10.44%).

Vacant housing appears to be an issue in Greenwich. Fully 13.36% of the housing stock is classified as vacant. Left unchecked, vacant Greenwich homes and apartments can be a drag on the real estate market, holding Greenwich 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.

Greenwich Home Appreciation Rates

Greenwich's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Greenwich during the period has been just -0.83%, which is lower than 70% of US communities.

Appreciation rates are so strong in Greenwich that despite a nationwide downturn in the housing market, Greenwich real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Greenwich appreciation rates continue to be some of the highest in America, at 5.58%, which is higher than appreciation rates in 70.20% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Greenwich. Greenwich appreciation rates in the latest quarter were at 2.67%, which equates to an annual appreciation rate of 11.14%.

Importantly, this makes Greenwich one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.

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

Average Home Values

 

Median Home Value:
$154,052

Greenwich, NY HOME PRICES

Value Range
> $1,021,000 0.5
$766,001 - $1,021,000 1.0
$511,001 - $766,000 4.2
$409,001 - $511,000 0.4
$306,001 - $409,000 4.8
$204,001 - $306,000 21.9
$102,001 - $204,000 47.7
$51,001 - $102,000 14.6
$0 - $51,000 5.0

Average for NY
Average for Nation

Value Relative to Nation Value Relative to State
48.318293683347 58.1369248035915

Number Of Homes And Apartments:
772

Greenwich Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
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
87.53% 3.71% 9 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$865 / per month

Homeownership Rate

Homeownership
Owners 54.26
Renters 45.74
Vacant 13.36

Housing Market Details

 

Age of Homes

AGE OF Greenwich HOMES
2000 or Newer 0.3
1970 - 1999 10.4
1940 - 1969 14.5
1939 or Older 74.7

Types of Homes

TYPE OF Greenwich HOMES
Single-Family 62.4
Townhomes 2.5
Small Apt. Buildings 26.2
Apt. Complexes 8.6
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Greenwich HOMES
No Bedroom 1.12
1 Bedroom 15.04
2 Bedrooms 25.03
3 Bedrooms 39.51
4 Bedrooms 13.36
5 or more bedrooms 5.95