Trending

Trending with Maggie Gordon

What $260,000 buys you in Southwestern Connecticut

|

In Ansonia you can get this  three-bedroom house on North Westwood Road, which has 1,488 square feet of living space for  $256,201.

In Ansonia you can get this three-bedroom house on North Westwood Road, which has 1,488 square feet of living space for $256,201.

The average New Englander expects to spend roughly $260,000 on their next home. But what happens when you take that same budget from one town to the next in our area?

A survey conducted by the National Association of Home Builders found that the average home buyer in America expects to pay $203,910 for their next home. Here’s how the NAHB explained the average American’s expectations in the organization’s report “What Home Buyers Really Want”:

Several years of declining home values have led home buyers to significantly adjust expectations of how much they are ready to pay for their next home (or have recently paid for one). In 2012, buyers expect to pay a median of $203,910 for their next home, which is 12 percent lower than their expected price was in 2007 ($230,900). The median price buyers expect to pay in 2012, nonetheless, is about 16 percent higher than it was in 2004 ($175,900).

But here in New England, prospective home buyers are prepared to pay a bit more. According to the survey of more than 3,600 home buyers, New England folks have the second highest expected price, at $259,555. The area in which home buyers have the highest expected price is in the Pacific portion of the country, where the expected price is $285,816. It’s the lowest in the East North Central section (Michigan, and surrounding states), where the expected price was recorded as $164,168.

We searched the real estate website Trulia to see what prospective homeowners could snatch up for $259,55 or less in every town in Southwestern Connecticut, and found that the properties vary quite a bit between towns. Check out what $260,000 buys you in each of the towns in Southwestern Connecticut.

Maggie Gordon

Leave a Reply

4 Responses

  1. That’s kind of the point. There really isn’t much in this area that you can buy for the New England median, except for some fixer-uppers.

  2. mc says:

    Cheap is good, but these places are dumps.

  3. Bob says:

    The Stamford Property is on Old Barn Rd and needs at least $100,000 worth of work. The entire upstairs is gutted and has no floors. The kitchen needs to be completely ripped out and redone and the rest of the 1st floor needs work. It does have a nice corner lot though.

  4. Pearl says:

    That Easton property is a neglected eyesore whose owner failed to pay twenty years’ of property tax (about $200,000).