According to new data from the School of Business’s Center for Real Estate and Urban Economic Studies, the value of a single-family home Naugatuck fell 3.9 percent in the second quarter of 2012.
The year-over-year decline—from $195,879 to $188,200 for a so-called “mid-tier” home—continues a trend in Naugatuck, which hasn't seen a rise in home values since the first quarter of 2010, according to the UConn center.
The center defines a “mid-tier” home in Naugatuck as 30 years old and with 1,484 square feet. Each quarter, the center produces “constant quality indices” that track the changing value of homes in Connecticut towns by minimizing variables such as inflation and seasonality, as well as the effect a low-volume sales quarter has on average prices.
The decline in Naugatuck reflects to an overall downward trend just to the south, in Fairfield County.
Among 18 towns in the county whose data is tracked by the center, just five municipalities—Bridgeport, Darien, Greenwich, Stamford and Trumbull—saw single-family home values increase
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year-over-year for Q2. On average, the value of single-family homes in those 18 towns fell 4.8 percent from 2011 to 2012 in the second quarter, according to the center.
