The housing market in Norfolk, CT is flourishing. The median value of homes in the area is $411,200, which is significantly higher than the US median house value of $338,100. Furthermore, the US has seen an appreciation rate of 8.27%, but Norfolk has seen an even higher rate of 9.34%. This indicates that the housing market in Norfolk is expanding faster than other areas in the country. With its higher home values and greater appreciation rate, Norfolk provides a desirable place to live for prospective homeowners.
The median home cost in Norfolk is $411,200. Home appreciation the last 10 years has been 44.2%. Home Appreciation in Norfolk is up 14.1%.
Average Age of Homes
- The median age of Norfolk real estate is 78 years old
The Rental Market in Norfolk
- Renters make up 19.1% of the Norfolk population
- 1.0% of houses and apartments in Norfolk, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.