Home Values

06378 Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$375,200

  • -2.5% 1-year change
  • -1.5% 1-year forecast

The median home value in 06378 is $375,200. 06378 home values have declined -2.5% over the past year and Zillow predicts they will fall -1.5% within the next year. The median list price per square foot in 06378 is $230, which is lower than the Town of Stonington average of $234. The median price of homes currently listed in 06378 is $495,000 while the median price of homes that sold is $335,000.

Foreclosures will be a factor impacting home values in the next several years. In 06378 5.2 homes are foreclosed (per 10,000). This is lower than the Town of Stonington value of 5.4 and also greater than the national value of 4.5

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in 06378 is 6.9%, which is higher than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 06378 homeowners underwater on their mortgage is 9.1%, which is the same as Town of Stonington at 9.1%.

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Relative ZHVI
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06378 Market Overview

Data through Oct 31, 2014
  • $375,200 ZHVI
  • -1.5% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Oct 31, 2015)
  • $495,000 Median listing price
  • No recent data Median sale price
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06378 Market Health

Data through Oct 31, 2014
  • 1.4/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 9.1% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 6.9% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

5.2 homes(Aug 31, 2014) 06378
5.4 homes(Aug 31, 2014) Town of Stonington
4.5 homes United States
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Nearby Zip Codes

Name Median ZHVI
02891 $293,900
06355 $271,700
06379 $229,400
Name Median ZHVI
06359 $227,200
06365 $207,500
02808 $206,600
Name Median ZHVI
02804 $205,800
06339 $202,900
06340 $194,600

Listings & Sales

Data through Oct 31, 2014
  • $230 Median list price / sq ft
  • No recent data Median sale price / sq ft
  • 47.8% Listings with price cut
46.3%
Sold below listing
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06378 Rentals

Data through Oct 31, 2014
  • Zillow Rent Index

  • $1,767 06378
    $1,782 Town of Stonington
    $1,337 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 28.4 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No data Rent list price
  • No data Rent list price / sq ft
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