Current home values in Connecticut

Home values have been rising throughout Connecticut and are up 0.8% from a year ago.

Statewide, the median value for a single-family home — meaning half are worth more, half are worth less — is currently $736,169, Realtor says.

Real estate agents say would-be homebuyers in some parts of the country are starting to overcome the obstacles caused by COVID-19 and are going virtual house hunting to take advantage of current mortgage rates and the low monthly house payments they provide.

Here's how that works in Connecticut: Let's say you want to buy a mid-priced home using a 30-year fixed-rate mortgage at the current average interest, which is a low 3.33%, according to mortgage company Freddie Mac.

A 30-year mortgage for a $736,169 home at 3.33% would give a typical Connecticut homebuyer a monthly payment of $2,589, assuming a 20% down payment.

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How the Connecticut housing market stacks up

Older couple enjoying winter outside
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Couples in Connecticut can enjoy hiking outside in winter

The state's median home value is higher than the U.S. median of $248,948, which is up 5.1% from a year ago.

While the coronavirus is expected to continue hanging over the U.S. economy like a dark cloud, Zillow forecasts that U.S. home values will rise 5.1% over the next year, while in Connecticut, they're predicted to rise 3.4%.

Homes right now are going on the market in Connecticut at a median price of $174 per square foot, versus $134 per square foot nationwide.

Are you looking to buy? Take a look at the latest mortgage rate trends.

Connecticut home prices over the last 10 years

Year Avg. Price
2020* $259,272
2019 $257,163
2018 $253,575
2017 $243,567
2016 $235,783
2015 $233,217
2014 $233,100
2013 $229,167
2012 $226,975
2011 $236,833
2010 $251,133
2009 $257,958

*2020 price average through March 31, 2020.

Compare current mortgage rates from top national lenders. Get the best rate for your purchase or mortgage refinance.

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How much for an average-sized home?

Here's what a 2,500-square-foot home in Connecticut is worth now, and how that's changed over the last decade, based on the Zillow Home Value Index.

Year Avg. Price
2020* $435,275
2019 $387,500
2018 $382,500
2017 $372,500
2016 $360,000
2015 $355,000
2014 $357,500
2013 $357,500
2012 $350,000
2011 $367,500
2010 $392,500
2009 $395,000

*2020 price average through March 31, 2020.

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