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Wilton Home Values Fall 10.7 Percent in Q2

In the second quarter, the value of a "mid-tier" single-family home in Wilton fell by 10.7 percent in Q2, mirroring a county-wide trend, analysts say.

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 Wilton fell 10.7 percent in the second quarter of 2012.

The year-over-year drop—from $660,429 to $589,652 for a so-called “mid-tier” home—continues a trend in Wilton, which , according to the UConn center.

The center defines a “mid-tier” home in Wilton as 32 years old and with 2,585 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 Wilton reflects a downward trend 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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Use the search form above to track the change in estimated values of a mid-range home quarter by quarter since 2000. Interested in all things Wilton? Join us to discuss town matters with your neighbors, rate local businesses, and "like" us on Facebook and follow us on Twitter!

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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.

Join a local conversation on real estate value: A , and each story includes a narrative summary of second quarter data.

RD July 30, 2012 at 01:29 PM
You are so spot on! It is pathetic that they are allowed to rob the people of Wilton and nobody votes these clowns out of office.
Joshua Kesselman July 30, 2012 at 02:18 PM
A Good school system is one of the few items keeping our home prices up. Without good school Wilton would not be the place to live or buy a house. Alas taxes or lack there of is just not the answer
Eric Fanwick July 30, 2012 at 02:20 PM
Did either of you read the story, If it is in line with the county, then it is not our property tax per se versus other rates in the area.
JRM815 July 30, 2012 at 05:19 PM
I think there are real problems with the way this index is calculated. For example, if you select the town of Wilton and the second quarter in the dropdowns above, you discover that in Q2 of 2009 houses in Wilton were worth zero. They filter the data so much as to make the index worthless for towns with small sample sizes.
Sushi July 30, 2012 at 06:25 PM
Finally - an honest report of the real estate market place! The home prices are falling EVERYWHERE - all over Fairfield County and at least 10% or greater from one year to the next. This is no surprise to anyone selling, buying or even researching the marketplace. Do not rely on your realtor for the truths - do your own homework and research sales yourself. You will see that this report is just one of many realities of what is truly going on in the housing market. There is no uptick in sales unless you want to count foreclosed homes being sold again or short sales and bargain basement sales of existing homes. You can't have a real estate 'uptick' unless you have a job/labor/employment 'uptick' and not just a one month fluke. Let's get real. No jobs growth - no housing market growth. Smoke and mirrors and home transfers hardly qualify as housing "upswing". Wait til after the election before anything happens. And even that is precarious given that the outcome is not going to yield any immediate, if any changes for improvement. Job creation, small business growth and opportunity, more lending and incentivizing companies to bring jobs back to America and create a new economy will all need to stand up and deliver by contributing to a secure economy and future revitalization in the housing market. It's pretty simple. No jobs, no housing movement. Let's take the blindfolds off the housing market. Silver lining does not exist today. It is smoke and mirrors you are seeing!
EMR July 30, 2012 at 07:48 PM
Hilarious that every year our tax base goes up and we vote a Republican administration in who run on smaller government and lower taxes. What's wrong with that picture?
Eustace Tilley July 31, 2012 at 12:51 AM
How many of us are dismayed with the reckless spending in Washington? Most of us shake our heads in bewilderment as to how dysfunctional DC has become. It may surprise you to learn that Wilton's % increase in its budget IS GREATER THAN the DC rate of growth since 2000. It may also surprise you to know Wilton's average teacher salary is some 30% higher than the average teacher in CT. It may also surprise you that Bridgeport's 3rd grade class at the multicultural school had better proficiency scores in math and writing than Wilton, demographics notwithstanding. Throwing money at a problem sometimes fails to create the solution and often creates unintended consequences and a false sense of "progress." Do you think its a huge mistake to believe higher taxes, without proper management, is the right course. Do you think its possible to increase the value of your home when the government consumes an ever increasing % of your family income...and the income of someone who wants to move into once bucolic and well managed Wilton?
Big Boy July 31, 2012 at 09:57 AM
According to this artical produced by UCONN, we are led to believe that schools have nothing to do with property values. The suburban areas, where arguably teachers are paid more, property values have gone down, yet the city of Bridgeport homes values have gone up, an area where teachers are paid less.
Wilton2ParkAve July 31, 2012 at 12:47 PM
I've never seen such blatant cherry picking in my life. While the macro-economic backdrop is less than rosy, and our town's budget is out of control... The numbers presented here are a complete misrepresentation. Here are the key highlights: Pending sales for Q2: 95% higher than Q2 last year Closed sales for Q2: 28% higher than a year earlier Price change: Unchanged from Q2 '11, but 2% than Q2 '10 and 7% higher than 2 years earlier http://viewer.zmags.com/publication/ddb5fafd#/ddb5fafd/1
Wilton2ParkAve July 31, 2012 at 12:50 PM
I'm not happy with our taxes, but my exact house in Bronxville would be almost $40,000 vs. the ~$12,000 I currently pay. I'd also estimate it to be ~$2,000 higher than a home built of the same era in Westport on 2 acres, but we don't have comparable tax bases (both retail and corporate). If you want to make Route 7 move more like the Post Road in Westport (argh), we've got a shot at reducing our burden.
RD July 31, 2012 at 01:59 PM
School system not nearly what it was especially high school.
Um ... NO ! July 31, 2012 at 02:15 PM
E - Just imagine the catastrophic situation if a Democratic Administration did win. Our taxes would go up 10 Fold - not less than the 1% it did !! I am not willing to gamble on the experiment to satisfy your buffoonery or elephant sized ego. Inflation is low, but not zero. Costs go up and need to be paid for. Get a grip and gripe about the PTA issues or the field hockey crazy Janie-come-lately. Any chance you were the umpire for that Little League game in Oxford ??
Um ... NO ! July 31, 2012 at 02:19 PM
Two words for you pal - Mitt Romney !! He is our country's best hope for the future. Otherwise might as well just let the UN run the world. Kofi Annan as Supreme Leader of the World might not be just what our Fore Fathers had in mind ... ETP - Perhaps not so much with the caffine for you when you read your daily dose of Patch.
Um ... NO ! July 31, 2012 at 02:22 PM
How about everytime EMR kavetches about the woes and mismanagement of the Town he puts 10 cents into a jar. In 6 months the new High School roof would be paid for. Then all that bellyaching will have had a purpose ...
Sushi July 31, 2012 at 06:05 PM
If you think Romney is our country's "best hope for the future" - then your future is going to look VERY BLEAK and OUTSOURCED! There is no logic behind voting anywhere else but for Obama again. Why?? Because if some of your memory banks' would clear out the cobwebs, you'd recall that it was 8 long miserable years of GW Bush and his Cheney puppeteer that got us into this mess in the first place. Clinton left a huge surplus but Bush and Company turned it into a fiasco called the Second Great Depression in America - thinly veiled in disguise as the Great Recession of the World - and put us into a multi-trillion dollar deficit. They put this country into debt never seen before in the history of the US!!! And voting another Republican into office would only put us further behind the debt counter!! Here's some logic 101 that should summarize what needs to happen and why not to vote Republican in the upcoming Presidential election this November: It took Bush/Cheney 8 years to turn this country around 180 degrees and park us into the worst financial crisis of our time. It will take Obama/Biden at least 8 years to turn the wheel 180 degrees in the opposite direction back to zero or perhaps just out of the crisis. Why in God's name would you give the keys to the kingdom back to the same traitors who created this mess??. The definition of insanity, is doing the same thing over and over and expecting the same results. Romney's own colleagues in DC can't stand him!!
Eric Cameron July 31, 2012 at 06:45 PM
Sushi - Can you explain which of the Bush policies caused the banking crisis.
MAC July 31, 2012 at 06:53 PM
Sushi, the definition of "insanity" is voting for Obama, if you want anything other than "Serfdom"!! Obama is an acolyte of communists Frank Marshall Davis (his mentor from childhood) and Saul Alinsky. He also believes in the stupid notion of a 'fixed pie' theory of economics! Obama thinks that in order for people in third world nations to get out of poverty, that Americans must become poorer; so that is the ideology that drives his actions. If you want more poverty in America, then by all means vote for Obama. Sushi, it should be obvious, but since you seemingly worship at the altar of DEMS and BIG government, you don't even realize that Romney is NOT Bush! Give up your BDS already!!! Obama has an abysmal job performance record, and most Americans, even those who voted for him in 2008, can see that simple fact! It is significant that the latest poll shows that even in blue CT, among Independents, Romney is leading Obama by 7 points!!!
Alethiologist August 01, 2012 at 12:18 AM
Hey ho hum, you missed the point. Of course romney is preferred to obama but his election does not mean our problems are solved. Republican led Wilton still managed to outspend DC dems and reps during the last dozen years per ETP above. Wilton's reps are married to tax and spend and their policies are intended to preserve the BOS and BOE monopolies....not to serve conservative, republican fiscal disciplines/ideals. So, in my opinion, it is time to clean house in both of Wilton's political parties. Devout party loyalty is a huge mistake especially if party leadership fails to adhere to traditional values.
Sushi August 01, 2012 at 12:31 PM
Romney is a JOKE!! If you think anyone in their right mind is going to allow him to become the next President - a guy that won't even disclose his tax returns save for ONE YEAR (you can't even get a mortgage unless you produce two years of tax returns by the way - and he is running for the highest position in the country???!!) and who's own Father stated in his campaign that what is the point of releasing one or even two years of taxes and went on to show the world 12 YEARS of his taxes - shows you that the apple falls far from the proverbial tree when that apple is called HYPOCRICY!!! No WAY will Romney ever win. Cleaning the House in Wilton may be the local priority in amongst Wilton Republicans, but cleaning out the Republicans in the Congressional House would be a much better idea for the country. Boehner, Cantor, and the rest of their gridlock need to go in November. This way we can restore this country back to the respect and dignity it so deserves and that the last 12 years have been derailed by Bush/Cheney and the Republican cronies in the House. Out with the old school .......in with the new brave wave!!!! Let freedom prevail!!
Alethiologist August 01, 2012 at 01:11 PM
THat is what Bronxville wanted. Others did not and that is why they moved elsewhere... the current problem is due to us trying to 'copy' other towns. I think if you want the 'other' town lifestyle, then go move there. I think we should stop trying to create clones of mis-managed townss by screwing up what we once had.
Wilton2ParkAve August 01, 2012 at 02:11 PM
You totally missed the point Evelyn.
Wilton2ParkAve August 01, 2012 at 02:14 PM
How can he release his tax return for last year when it likely hasn't been completed yet. Mitt has private fund investments (private equity and hedge funds), which generally produce form K-1, as opposed to the more common form 1099. These tax documents are generally not delivered by April 15, and most investors/LPs in these structures need to file tax extensions.
Wilton2ParkAve August 01, 2012 at 02:16 PM
What other town (in CT or otherwise) has lower taxes, a top tier school district and comparable home values within NYC commuting distance? While we absolutely need to curb our spending habits, the growth of our expenditures is actually below the state and region average and our taxes remain below neighboring states on a percentage and absolute basis.
IS Sushi Ted Hoffstatter August 01, 2012 at 02:41 PM
I think the identity of Sushi has been revealed. Little Teddy Hoffstatter. Who is only a Selectman because the town is forced to put 2 Dems on the Board and he is willing to spout his nonsense weekly and go down in flames in almost every vote. And now he wants a bigger chair and a louder microphone ?? Give me a break ! The country knows Obama is wrecking the status and World standing of 200+ years of the greatest country in the world in a remarkable 3 years ! Is "the new brave wave" your version of Hope and Change" ? I hoped to have dollars, but now only change in my pocket thanks to his thinking ....
IS Sushi Ted Hoffstatter August 01, 2012 at 02:44 PM
And Ted - I mean Sushi - Dick Cheney was probably the greatest Vice President this country has had in the modern era (Gerald Ford also but he gets the astrik for not actually running for the job). If you are hanging your hat on Mr Biden, I sugest you need another hat as it must feel and smell pretty soiled after his 3 years of non-stop embarrassements.
Alethiologist August 01, 2012 at 02:46 PM
Darien, Westport, New Canaan, Redding, Easton, Weston in CT Short Hills, Madison, Milburn, Colts Neck, Little Silver among others in NJ
Wilton2ParkAve August 01, 2012 at 03:24 PM
Home prices are not comparable in Darien, Westport or New Canaan. Even if taxes are less, homes prices more than offset any tax savings. Redding and Easton are pushing the commutable distance aspect. Easton and Weston's taxes are above Wilton's on similarly priced (and spec'ed) properties. Millburn and Short Hills fail from both a price and tax standpoint. More expensive than Wilton and with significantly higher taxes. Essex county trumps even Westchester from a property tax perspective.
Connecticut15 August 02, 2012 at 04:03 PM
@ Sushi: how much of the Clinton surplus came as a result of the high technology bubble, of which no real value was created, dubious value instead only on paper with many people taking their shares off the top. This was a house of cards leading to too many people losing incredible amounts of money, (savings, investments, retirement) in the markets? how much of the current depressed economic conditions are due to policies adopted, revitalized, or enacted during the Clinton administration (think subprime mortgages because policy makers told us that every American apparently must not be denied owning a house even if they can't afford the costs of owning the house - instead of every AMerican should have a right to a safe home. Home does not equal house. A person can rent a place to call home and it could be an apartment. A person should work toward ownership and should take pride in working on maintaining a safe home. We have a philosophy and practicality problem here in Wilton. We know that our federal government needs to borrow money to pay its bills, yet we expect FEMA money the government doesn't have to help pay for town costs when individual property owners put their personal debris along town roads after a storm? This type of expectation for reimbursement must stop.
Alethiologist August 02, 2012 at 05:11 PM
Na, you miss the point W2PA Wilton has a location problem compared to many towns with easier access to NYC so its property valuse will trend lower by comparison. Trouble is, Wilton leadership ALWAYS tries the thoughtless "me too" approach to government services trying (in vain) to match services provided elsewhere. The smart way is to figure out how to provide services for less and recognize location, location, location has an affect on the tried and true "price-tax ratio."
Wilton2ParkAve August 02, 2012 at 05:35 PM
We are less disadvantaged than New Canaan (or Weston) with respect to NYC. We have a satellite Metro North branch(es) or alternatively, we can drive to the main line (SoNo) in far less time than it would take someone from Weston, NC or even North Greenwich to drive to their NH line station. So it isn't about location. My neighbor commutes to Park Ave from Short Hills and it is a brutal commute despite being fewer miles on paper. Drive to train, change trains in Hoboken, Hoboken to Penn, subway to Midtown.

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