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Sarah Mitchell
Compass Real Estate · ZIP 06851
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06851 ZIP Code Housing Market
$690,000median sale price
What is the 06851 housing market like right now?
The median home sale price in ZIP code 06851 is $690,000, up 11.8% year-over-year. Homes sell in an average of 31 days with 45 active listings. The market is currently a seller's market. (Source: Redfin monthly MLS data, as of March 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is the 06851 ZIP code a buyer's or seller's market?
ZIP code 06851 is currently a seller's market and homes selling in about 31 days. How we determine this →
What are the latest 06851 housing market stats?
| Metric | Value |
|---|---|
| Median sale price | $690,000 |
| Median list price | $699,000 |
| Year-over-year price change | +11.8% |
| Average days on market | 31 days |
| Active inventory | 45 listings |
| Sale-to-list price ratio | 104.3% |
| Market condition | Seller's market |
Source: Redfin · Updated monthly
The 06851 zip code, located in Old Hill, CT, is currently classified as a seller's market. The median sale price stands at $690,000, representing a +11.8% change year over year. Homes in this area spend an average of 31 days on the market before going under contract. There are currently 45 active listings in the area, which influences how much negotiating power buyers and sellers have.
ZIP 06851 sits in the Old Hill, CT area, roughly 1.4 miles from downtown Old Hill. Because home prices are set street by street, this ZIP can move differently from Old Hill's citywide averages. The figures below reflect 06851 specifically — drawn from Redfin transactions, U.S. Census data for its 27,865 residents, and Zillow value estimates.
Homes sold
60
Last 12 weeks
Days on market
31
Average pace
Active listings
45
Sale-to-list
104.3%
Above asking
What is driving the 06851 housing market?
The 06851 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a seller's market, homes are selling at approximately 104.3% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 06851 have increased +11.8% compared to last year, suggesting continued demand and potential for further appreciation. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 06851 stands at $685,502, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $2,714 per month. This gives a price-to-rent ratio of approximately 21.1, which indicates that renting may be more cost-effective than buying in the short term, though long-term appreciation could shift that calculus. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Who lives in 06851?
Population
27,865
Median income
$111,341/yr
Median age
43.2 years
Owner-occupied
61.6%
College grads
46.4%
Avg commute
32.3 min
What is it like living in 06851?
Zip code 06851 is home to approximately 27,865 residents. The median household income is $111,341 per year, which shapes the types of homes and amenities available in the area. With a median age of 43.2 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 61.6% of housing units are owner-occupied, indicating a stable, ownership-oriented community where residents have a vested interest in maintaining property values and neighborhood quality.
About 46.4% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 32.3 minutes, which is close to the national average. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 06851.
Which public schools serve ZIP 06851?
9 schools tracked · 4,909 students
The largest public schools serving ZIP code 06851 by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Norwalk High School
Grades 9-12 · 1,547 students
West Rocks Middle School
Grades 6-8 · 701 students
Nathan Hale Middle School
Grades 6-8 · 524 students
Tracey Magnet School
Grades PK-5 · 464 students
Cranbury Elementary School
Grades PK-5 · 420 students
P-TECH Norwalk
Grades 9-12 · 380 students
Naramake Elementary School
Grades PK-5 · 366 students
Wolfpit Integrated Arts Elementary School
Grades PK-5 · 357 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Frequently asked questions about 06851
What is the median home price in 06851?
The current median sale price in 06851 is $690,000, based on recent Redfin transaction data. Prices have changed +11.8% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 06851 a buyer's or seller's market?
The 06851 zip code is currently classified as a seller's market. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population of zip code 06851?
Zip code 06851 has a population of approximately 27,865 residents. The median household income is $111,341 per year. About 61.6% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 06851?
Properties Incorporated provides comprehensive data for 06851 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 06851 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
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