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1 / 21#21. Griswold, CT
- 1-year price change: +$13,272 (+3.8%)
- 5-year price change: +$93,862 (+35.0%)
- Typical home value: $361,766 (#19 most expensive city in metro)
Cities with the fastest-growing home prices in the Norwich metro area
The real estate frenzy spurred by the coronavirus pandemic continues, though at a slower pace. Buyers are still competing for a limited supply of housing, driving up prices for affordable properties.
The typical home value in the United States was $369,678 in August, 1.3% higher than the year before.
Increasing mortgage rates have slowed growth, with prices even declining in some places. But some areas are still seeing price jumps compared to the year before.
Stacker compiled a list of cities with the most expensive homes in the Norwich-New London, CT metro area using data from Zillow. Charts show the monthly typical home value since January 2018.
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2 / 21#20. New London, CT
- 1-year price change: +$16,995 (+5.4%)
- 5-year price change: +$114,530 (+52.8%)
- Typical home value: $331,435 (#20 most expensive city in metro)
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3 / 21#19. Norwich, CT
- 1-year price change: +$18,234 (+6.3%)
- 5-year price change: +$107,226 (+53.9%)
- Typical home value: $306,163 (#21 most expensive city in metro)
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4 / 21#18. Lebanon, CT
- 1-year price change: +$21,671 (+5.3%)
- 5-year price change: +$138,870 (+47.8%)
- Typical home value: $429,267 (#12 most expensive city in metro)
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5 / 21#17. Lisbon, CT
- 1-year price change: +$21,758 (+5.8%)
- 5-year price change: +$103,028 (+34.9%)
- Typical home value: $398,416 (#16 most expensive city in metro)
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6 / 21#16. Montville, CT
- 1-year price change: +$23,056 (+6.7%)
- 5-year price change: +$101,650 (+38.4%)
- Typical home value: $366,432 (#18 most expensive city in metro)
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7 / 21#15. Waterford, CT
- 1-year price change: +$23,371 (+5.7%)
- 5-year price change: +$123,790 (+40.0%)
- Typical home value: $433,247 (#10 most expensive city in metro)
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8 / 21#14. Groton, CT
- 1-year price change: +$24,765 (+5.9%)
- 5-year price change: +$128,538 (+40.3%)
- Typical home value: $447,813 (#8 most expensive city in metro)
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9 / 21#13. Colchester, CT
- 1-year price change: +$25,873 (+6.1%)
- 5-year price change: +$127,123 (+39.7%)
- Typical home value: $447,001 (#9 most expensive city in metro)
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10 / 21#12. East Lyme, CT
- 1-year price change: +$26,856 (+5.3%)
- 5-year price change: +$143,522 (+36.6%)
- Typical home value: $535,448 (#4 most expensive city in metro)
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11 / 21#11. Preston, CT
- 1-year price change: +$27,566 (+6.9%)
- 5-year price change: +$123,941 (+40.5%)
- Typical home value: $429,768 (#11 most expensive city in metro)
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12 / 21#10. Franklin, CT
- 1-year price change: +$28,939 (+7.4%)
- 5-year price change: +$124,258 (+41.7%)
- Typical home value: $422,456 (#13 most expensive city in metro)
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13 / 21#9. Bozrah, CT
- 1-year price change: +$29,127 (+7.7%)
- 5-year price change: data is not available (data not available)
- Typical home value: $407,181 (#15 most expensive city in metro)
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14 / 21#8. Ledyard, CT
- 1-year price change: +$30,432 (+7.8%)
- 5-year price change: +$125,389 (+42.7%)
- Typical home value: $418,937 (#14 most expensive city in metro)
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15 / 21#7. North Stonington, CT
- 1-year price change: +$32,155 (+7.3%)
- 5-year price change: +$138,080 (+41.4%)
- Typical home value: $471,771 (#6 most expensive city in metro)
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16 / 21#6. Sprague, CT
- 1-year price change: +$33,352 (+9.8%)
- 5-year price change: +$120,392 (+47.4%)
- Typical home value: $374,329 (#17 most expensive city in metro)
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17 / 21#5. Salem, CT
- 1-year price change: +$37,216 (+8.4%)
- 5-year price change: +$148,535 (+45.1%)
- Typical home value: $478,108 (#5 most expensive city in metro)
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18 / 21#4. Lyme, CT
- 1-year price change: +$47,882 (+6.3%)
- 5-year price change: +$211,053 (+35.4%)
- Typical home value: $807,778 (#1 most expensive city in metro)
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19 / 21#3. Stonington, CT
- 1-year price change: +$49,680 (+8.3%)
- 5-year price change: +$201,714 (+45.3%)
- Typical home value: $646,773 (#3 most expensive city in metro)
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20 / 21#2. Voluntown, CT
- 1-year price change: +$54,169 (+13.7%)
- 5-year price change: +$156,942 (+53.6%)
- Typical home value: $449,492 (#7 most expensive city in metro)
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21 / 21#1. Old Lyme, CT
- 1-year price change: +$73,564 (+12.0%)
- 5-year price change: +$223,539 (+48.1%)
- Typical home value: $688,434 (#2 most expensive city in metro)
