06410, Cheshire, CT

The 6410 zip code of Cheshire, CT is located in the northwest corner of the town of Cheshire. The zip code covers a total area of 2.1 square miles and has a population of 8,827 as of the 2010 census. Home prices in this zip code have increased significantly over the past several years, with median home prices reaching $269,000 as of March 2016. This increase in home prices is likely due to both strong demand and limited supply within this particular zip code.

According to Zillow’s Home Value Index, home values in the 6410 zip code have increased by an average of 9% since 2013. This rate of growth is much higher than the national average during that same time period (Zillow). In addition, according to Trulia’s recent analysis, home values in this zip code are now more expensive than 95% of all U.S. ZIP codes (Trulia). These high levels of demand have driven up prices even further over the past few years; as evidenced by median home prices reaching $269,000 as of March 2016 (Zillow).

Despite these high levels of demand and price appreciation, there are still many homes available for purchase within this particular zip code. As a result, competition for homes has been relatively mild over the past few years (Zillow). This low level of competition may be due to a number factors including: limited inventory availability; strong demand; and low interest rates (Zillow). In addition, many potential buyers may be waiting for either price appreciation or stricter lending criteria before making an investment in a property within this specific zip code (Zillow).