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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 10,535 people, 4,660 houses or apartments, and a median cost of homes of $751,444, Old Saybrook house prices are not only among the most expensive in Connecticut, Old Saybrook real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Old Saybrook, accounting for 84.90% of the town's housing units. Other types of housing that are prevalent in Old Saybrook include large apartment complexes or high rise apartments ( 6.15%), row houses and other attached homes ( 4.48%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.50%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Old Saybrook. Owner-occupied housing accounts for 83.34% of Old Saybrook's homes, and 63.13% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Old Saybrook 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 Old Saybrook built between 1940-1969 ( 34.77%). A lesser amount of the housing stock also hails from before 1939 ( 18.99%). There's also some housing in Old Saybrook built between 2000 and later ( 10.95%).
Vacant housing appears to be an issue in Old Saybrook. Fully 23.83% of the housing stock is classified as vacant. Left unchecked, vacant Old Saybrook homes and apartments can be a drag on the real estate market, holding Old Saybrook 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.
Real estate appreciation rates in Old Saybrook's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.38% during the period.
Appreciation rates are so strong in Old Saybrook that despite a nationwide downturn in the housing market, Old Saybrook real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Old Saybrook appreciation rates continue to be some of the highest in America, at 12.12%, which is higher than appreciation rates in 93.88% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Old Saybrook. Old Saybrook appreciation rates in the latest quarter were at 2.73%, which equates to an annual appreciation rate of 11.36%.
Relative to Connecticut, our data show that Old Saybrook's latest annual appreciation rate is higher than 90% of the other cities and towns in Connecticut.
$751,444
for Connecticut
for nation
4,660
$2,459 / per month