Stonington, CT Real Estate Market

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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Stonington, CT Housing Market Trends

With a population of 18,559, 8,210 total housing units (homes and apartments), and a median house value of $349,356, Stonington real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Stonington, accounting for 68.44% of the town's housing units. Other types of housing that are prevalent in Stonington include duplexes, homes converted to apartments or other small apartment buildings ( 17.34%), large apartment complexes or high rise apartments ( 8.44%), and a few mobile homes or trailers ( 2.86%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Stonington. Owner-occupied housing accounts for 71.61% of Stonington's homes, and 57.28% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Stonington 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 Stonington built before 1939 ( 30.54%). A lesser amount of the housing stock also hails from between 1940-1969 ( 25.95%). There's also some housing in Stonington built between 2000 and later ( 12.31%).

Vacant housing appears to be an issue in Stonington. Fully 13.69% of the housing stock is classified as vacant. Left unchecked, vacant Stonington homes and apartments can be a drag on the real estate market, holding Stonington 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.

Stonington Home Appreciation Rates

Stonington's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Stonington during the period has been just 2.24%, which is lower than 80% of US communities.

Appreciation rates are so strong in Stonington that despite a nationwide downturn in the housing market, Stonington real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Stonington appreciation rates continue to be some of the highest in America, at 12.70%, which is higher than appreciation rates in 87.73% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Stonington. Stonington appreciation rates in the latest quarter were at 5.49%, which equates to an annual appreciation rate of 23.85%.

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

Relative to Connecticut, our data show that Stonington'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 Stonington differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Stonington - 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 Stonington real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$349,356

Stonington, CT HOME PRICES

> $1,228,000
4.3%
4.3%
$921,001 - $1,228,000
4.6%
4.6%
$614,001 - $921,000
13.4%
13.4%
$491,001 - $614,000
13.5%
13.5%
$369,001 - $491,000
19.5%
19.5%
$246,001 - $369,000
24.9%
24.9%
$123,001 - $246,000
14.5%
14.5%
$61,001 - $123,000
2.0%
2.0%
$0 - $61,000
3.4%
3.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Average for CT

Value Relative To Nation

Number Of Homes And Apartments:
8,210

Stonington Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
87.52% 2.97%
10
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,933 / per month

Homeownership Rate

Owners
71.6%
71.6%
Renters
28.4%
28.4%
Vacant
13.7%
13.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
12.3%
12.3%
1970 - 1999
31.2%
31.2%
1940 - 1969
25.9%
25.9%
1939 or Older
30.5%
30.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
68.4%
68.4%
Townhomes
2.8%
2.8%
Small Apt. Buildings
17.3%
17.3%
Apt. Complexes
8.4%
8.4%
Mobile Homes
2.9%
2.9%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.5%
1.5%
1 Bedroom
9.7%
9.7%
2 Bedrooms
27.3%
27.3%
3 Bedrooms
39.5%
39.5%
4 Bedrooms
17.8%
17.8%
5 or more bedrooms
4.2%
4.2%
0.0% 100.0%
% OF HOMES