How much house does $500,000 buy you in Norwich?
Back in 2014, spending $500,000 on a house was generally reserved for high earners. The typical U.S. home sold for $159,000, while starter homes averaged just $101,000. Fast-forward to today, and prices have more than doubled: A standard home now sells for $440,000, with starter homes approaching $300,000.
These current prices have put homeownership out of reach for many – and things don't look to be improving. Prices are still rising, affordability keeps dropping, and starter homes are becoming harder to find as home values climb. This has created a very sluggish and difficult housing market. In fact, even the usual busy spring and summer buying seasons were unusually slow this year.
While $500,000 once stretched much further, in many cities today, it's not nearly enough. But what about Norwich?
To find out, Redfin Real Estate found listings near the $500,000 mark to see what types of homes you can actually afford in Norwich right now. Listings below $500,000 were included if necessary.
57 Roselund Hill Rd, Uncasville, CT 06382
- Price: $459,000
- 4 bedrooms, 3.5 bathrooms
- Square feet: 2,076
- See 57 Roselund Hill Rd, Uncasville, CT 06382 on Redfin.com
247 Cossaduck Hill Rd, North Stonington, CT 06359
- Price: $475,000
- 4 bedrooms, 3 bathrooms
- Square feet: 2,547
- See 247 Cossaduck Hill Rd, North Stonington, CT 06359 on Redfin.com
24 Wood Acres Rd, Amston, CT 06231
- Price: $479,900
- 4 bedrooms, 3 bathrooms
- Square feet: 2,501
- See 24 Wood Acres Rd, Amston, CT 06231 on Redfin.com
860 North Rd, Groton, CT 06340
- Price: $460,000
- 4 bedrooms, 3 bathrooms
- Square feet: 2,260
- See 860 North Rd, Groton, CT 06340 on Redfin.com
53 Lovers Ln, East Lyme, CT 06333
- Price: $474,900
- 4 bedrooms, 3 bathrooms
- Square feet: 2,184
- See 53 Lovers Ln, East Lyme, CT 06333 on Redfin.com
196 Pickerel Lake Rd, Colchester, CT 06415
- Price: $449,000
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,496
- See 196 Pickerel Lake Rd, Colchester, CT 06415 on Redfin.com
11 Queen Eleanor Dr, Gales Ferry, CT 06335
- Price: $495,000
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,392
- See 11 Queen Eleanor Dr, Gales Ferry, CT 06335 on Redfin.com
3 Cedar Ln Ext, Norwich, CT 06360
- Price: $498,000
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,340
- See 3 Cedar Ln Ext, Norwich, CT 06360 on Redfin.com
24 Queen Eleanor Dr, Gales Ferry, CT 06335
- Price: $459,000
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,136
- See 24 Queen Eleanor Dr, Gales Ferry, CT 06335 on Redfin.com
82 Salem Tpke, Norwich, CT 06360
- Price: $484,900
- 4 bedrooms, 2 bathrooms
- Square feet: 2,430
- See 82 Salem Tpke, Norwich, CT 06360 on Redfin.com
3 Forsyth Rd, Salem, CT 06420
- Price: $450,000
- 4 bedrooms, 2 bathrooms
- Square feet: 1,920
- See 3 Forsyth Rd, Salem, CT 06420 on Redfin.com
2240 Glasgo Rd, Griswold, CT 06351
- Price: $456,000
- 3 bedrooms, 3 bathrooms
- Square feet: 1,658
- See 2240 Glasgo Rd, Griswold, CT 06351 on Redfin.com
205 Winding Hollow Rd, Groton, CT 06340
- Price: $440,000
- 3 bedrooms, 2.5 bathrooms
- Square feet: 2,550
- See 205 Winding Hollow Rd, Groton, CT 06340 on Redfin.com
105 Spicer Hill Rd, Ledyard, CT 06339
- Price: $489,900
- 3 bedrooms, 2.5 bathrooms
- Square feet: 1,761
- See 105 Spicer Hill Rd, Ledyard, CT 06339 on Redfin.com
597 Westchester Rd, Colchester, CT 06415
- Price: $499,000
- 3 bedrooms, 2.5 bathrooms
- Square feet: 1,600
- See 597 Westchester Rd, Colchester, CT 06415 on Redfin.com
420 Boston Post Rd, East Lyme, CT 06333
- Price: $495,000
- 3 bedrooms, 2 bathrooms
- Square feet: 2,631
- See 420 Boston Post Rd, East Lyme, CT 06333 on Redfin.com
715 Pendleton Hill Rd, North Stonington, CT 06359
- Price: $470,000
- 3 bedrooms, 2 bathrooms
- Square feet: 1,885
- See 715 Pendleton Hill Rd, North Stonington, CT 06359 on Redfin.com
114 Park Ave, Uncasville, CT 06382
- Price: $450,000
- 3 bedrooms, 2 bathrooms
- Square feet: 1,878
- See 114 Park Ave, Uncasville, CT 06382 on Redfin.com
48 Quailcrest Rd, East Lyme, CT 06333
- Price: $469,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,714
- See 48 Quailcrest Rd, East Lyme, CT 06333 on Redfin.com
11 Glenwood Park S, New London, CT 06320
- Price: $469,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,635
- See 11 Glenwood Park S, New London, CT 06320 on Redfin.com
57 Farmington Ave, New London, CT 06320
- Price: $449,000
- 3 bedrooms, 2 bathrooms
- Square feet: 1,322
- See 57 Farmington Ave, New London, CT 06320 on Redfin.com
126 Boston Post Rd, Old Lyme, CT 06371
- Price: $469,000
- 3 bedrooms, 1 bathroom
- Square feet: 1,200
- See 126 Boston Post Rd, Old Lyme, CT 06371 on Redfin.com
15 Washington Ave, Old Lyme, CT 06371
- Price: $465,999
- 3 bedrooms, 1 bathroom
- Square feet: 816
- See 15 Washington Ave, Old Lyme, CT 06371 on Redfin.com
219 Doyle Rd, Oakdale, CT 06370
- Price: $459,900
- 2 bedrooms, 3 bathrooms
- Square feet: 2,200
- See 219 Doyle Rd, Oakdale, CT 06370 on Redfin.com
484 Old New London Rd, Salem, CT 06420
- Price: $495,000
- 2 bedrooms, 2 bathrooms
- Square feet: 1,696
- See 484 Old New London Rd, Salem, CT 06420 on Redfin.com
145 Lakeside Dr, Lebanon, CT 06249
- Price: $465,000
- 2 bedrooms, 1.5 bathrooms
- Square feet: 1,188
- See 145 Lakeside Dr, Lebanon, CT 06249 on Redfin.com
1446, Montville, CT 06370
- Price: $469,000
- 2 bedrooms, 1 bathroom
- Square feet: 988
- See 1446, Montville, CT 06370 on Redfin.com
145 Lakeview Dr, Colchester, CT 06415
- Price: $499,900
- 2 bedrooms, 1 bathroom
- Square feet: 920
- See 145 Lakeview Dr, Colchester, CT 06415 on Redfin.com
76 S Edgewood Rd, Niantic, CT 06357
- Price: $475,000
- 2 bedrooms, 1 bathroom
- Square feet: 696
- See 76 S Edgewood Rd, Niantic, CT 06357 on Redfin.com
17 Langworthy Ave, Stonington, CT 06378
- Price: $489,999
- 1 bedroom, 1.5 bathrooms
- Square feet: 937
- See 17 Langworthy Ave, Stonington, CT 06378 on Redfin.com
