Real Estate
Residential Property Values Plunge in Meriden: Report
The city recently completed a property revaluation.
MERIDEN, CT — On average, Meriden's residential properties plunged 7 percent in the recently completed revaluation, with condominiums in the city taking the biggest hit, reports the Meriden Record-Journal.
Owners of condos in the city are seeing their home values drop an average of 20 percent. The revaluation was conducted by Northeast Revaluation Group, which studied property sales for the two years leading up to Oct. 1, 2016.
Meriden has about 19,500 residential properties, and the average price of a single-family home in the city is $159,546, about $12,000 less than in 2011, which is the last time the city had a revaluation. Condos now are valued at $89,777 on average, down from the 2011 value of $112,615.
Find out what's happening in Meridenfor free with the latest updates from Patch.
Click here to read the full story on the Meriden Record-Journal website.
Photo credit: City of Meriden
Find out what's happening in Meridenfor free with the latest updates from Patch.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.