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Naugatuck, Connecticut real estate prices have been recovering since 2014 when home sales prices bottomed out. The last few years of increasing buyer demand, coupled with decreasing home inventory have led to homes selling faster and prices finally moving upward statewide. Naugatuck prices have gained quick speed over the last few years, reaching a 9 year high so far in 2018.
Median sales prices of Naugatuck homes peaked at $228,000 in 2006, before dropping over 40% the next eight years. 2014 sales prices hit a bottom of $135,000. However, prices have been quickly rising since and currently sit at a median of $164,300:
The last few years have seen median sales prices in Naugatuck increase by 6-8% per year.
This is certainly great news for Naugatuck home owners overall. However, for those who bought or refinanced their homes near the peak of the market, prices are still 28% below the values seen over a decade ago. Though upward movement has been consistent, many are still struggling with negative equity. There are options for those who need to sell but lack the equity to get out of the loan.