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Top 10 Affordable, Active Housing Markets Identified in CT

12/13/2007

Contacts:

Kristi Sullivan, 860.571.6213
or Sara Vincent, 860.571.6203

Houses in Fairfield County are approximately 65 percent less affordable than in New Haven and New London, while the market activity is highest in Hartford County and lowest in Litchfield, according to an analysis released by the Connecticut Economic Resource Center, Inc. (CERC). The data is the first-of-its-kind specifically reporting on town and regional levels and the first in a series of quarterly reports that CERC will be making available online.

Based on housing sales data supplied by the Warren Group, the analysis provides a unique perspective on the state's housing markets and economic conditions. CERC's report includes an activity index, showing a relative comparison of housing sales among the towns, and an affordability index, measuring the ratio of median household income to median home sale prices.

The 10 least affordable towns are Greenwich, New Canaan, Stamford, Westport, Salisbury, Norwalk, Darien, Cornwall, Washington and Roxbury (ranking 1-10) - representing Fairfield County and Western Connecticut. The 10 most affordable towns are Union, Eastford, Franklin, Bozrah, Norfolk, Scotland, Hartland, Canaan, Andover, Coventry (ranking 169-160) - denoting Eastern Connecticut.

The 10 towns with the most activity are Darien, Weston, New Canaan, Granby, Coventry, Ashford, East Granby, Avon, Fairfield and Torrington (ranking 1-10), while those with the least activity are Eastford, Roxbury, Washington, Bridgewater, Lyme, Sherman, Norfolk, Hampton, Kent and Salisbury (ranking 168-159).

"As one of several comprehensive research products produced by CERC, this analysis provides insight to Connecticut's current housing market on a new locality-specific level," said Jeff Blodgett, vice president of research at CERC. "In keeping with our mission, CERC hopes this data will help businesses and policy makers understand the state's economic position and provide direction for future decisions."

The analysis, as well as data for each of Connecticut's 169 towns, is available at www.cerc.com. View third quarter 2007 data.

About CERC
Based in Rocky Hill, the Connecticut Economic Resource Center, Inc. is a nonprofit corporation and public-private partnership that provides clients with objective research, marketing and economic development services consistent with our mission of making Connecticut a more competitive business location.  Visit www.cerc.com for more info.

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11/8/2007
CERC Releases Statewide Economic Research Findings
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1/22/2008
Fairfield County Commercial Real Estate Brokers Welcome 2008 with "Cautious Optimism"
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