CONNECTICUT — The Connecticut real estate market may be famous for its inventory of older and historical homes, but a new report indicates the state may not be as ankle-deep in antiques as you thought.
Digital real estate marketplace HomeAdvisor has ranked the Nutmeg State #19 on its social media-driven list of states abuzz about their old homes. The real estate analysts scraped over 118,000 Instagram posts from November 2020 to December 2021 in search of homes deemed “historic” by users across the country, both for sale and not. HomeAdvisor then surveyed over 1,000 recent and prospective homebuyers to understand who older homes appeal to and how home age compares to other important factors.
New York came out on top as the state with the most posts about historic homes in the U.S., with 11,214 properties referenced on Instagram. The state is famous for its registered historic homes, both in New York City (where the best-known examples are listed by the Historic House Trust) and upstate.
Massachusetts took second place, with a total of 8,662 historic home posts found, while California (6,901) came in third and was also the only western state within the top 23. Wyoming (86), North Dakota (82), Hawaii (65), and Alaska (62) were the only states with fewer than 100 historic home-related posts.
“Connecticut has a smaller population than some of its neighbors, which could be a factor in how many posts we found as compared to the rest of the Northeast,” Merrill told Patch. “There’s no doubt that Connecticut has a rich architectural history – its residents just don’t post about it quite as much as in other states.”
Are Connecticut residents at least making some bank on these old homes? Not compared to the sellers of all those vintage homes in… Hawaii.
The Aloha State had the most expensive historic homes in the U.S., selling for $5,502,855 on average. Connecticut, where the average price of an historical home is $3,654,095, came in third. Rhode Island, which boasted 2,099 historic home posts in total, had the second most expensive average cost, at $3.93 million. California ($3.55 million) and New York ($3.07 million) rounded out the top five. History is cheap in #50 Kansas, where your typical antique abode will set you back just $290,477.
All of this begs the question, “Do IG fans buy historic homes?” The HomeAdvisor report’s supporting data would suggest they do, but just how vintage the digs are is not a dealbreaker. Almost nine in 10 millennials surveyed claimed the age of the home was their least prioritized factor, especially compared to categories such as cost or the quality of the neighborhood.
Young homebuyers may want to re-think their priorities, based on the HomeAdvisor survey. Millennials who chose to purchase older homes over newer ones saved an average of $111,497, according to the findings in the report.
Overall, 41.7 percent of new and prospective homeowners purchased or had plans to purchase an older home. From a generational perspective, baby boomers were the most likely to have bought or plan on buying an older home (63.6 percent). However, 37.9 percent of millennials also reported purchasing or having interests in an older home.