The story of this market
The typical home in ZIP 06416 sells for about $279,867, or $205 per square foot.
Prices are down 31.9% from a year ago, which gives buyers more room to negotiate. Homes take about 36 days to sell. HUD's fair market rent for a two-bedroom is $1,628 a month.
ZIP 06416 — Cromwell
The 06416 housing market is currently experiencing a significant correction, with median sale prices down 31.9% year-over-year. Sales volume has also declined, and homes are taking longer to sell compared to the previous year. Many specific metrics such as months of supply and detailed tax data are not currently published for this ZIP code.
This ZIP is well-suited for family buyers due to its diverse housing options, including many spacious single-family homes, and its suburban, peaceful atmosphere.
Median prices moved down 31.9% year over year.
Homes spend a median of 36 days on market with 0.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 0% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.8% · poverty 5.9% — a stable, low-distress profile.
ZCTA 06416
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Connecticut) — Municipal Real Property Tax Assessment & Mill Rate Mechanics: Under C.G.S. § 12-62a, all taxable real property is assessed uniformly at a mandatory 70% assessment ratio of its fair market value (FMV). Real property tax is computed annually using the formula: Assessed Value = Fair Market Value × 0.
The area provides residents with easy access to highways, making commutes to the surrounding Hartford-East Hartford-Middletown metropolitan area convenient.
The area features over 150 green spaces available for relaxation and recreation, alongside a local culinary scene with over 50 restaurants and cafes.
The area is part of the Hartford-East Hartford-Middletown metropolitan area, which serves as the primary economic anchor for the region.
Data sourced from ACS and Census estimates.
The area contains over 150 green spaces for public use.
Key-figure check: median price corroborated by the prior refresh cycle (within 12.5%).