Norwalk CT Weekly Real Estate Market Report 3/08/11

NORWALK CT HOMES: Norwalk is moving smoothly ahead! There are currently 362 homes on the market for an average of $780,916 that have been on the market 121 days. There were11 new listings and 4 homes came back on the market after being under deposit.   14 Properties had a price change. In the last week,  8 properties have gone under deposit, which is what we call CTS. This means that the property just took a binder, but all the contingencies have not yet been met. 16 properties went into Pending status, which generally means that the all conditions have been satisfied, and the property is just waiting to close. The 9 properties that closed in the last week had an average price of $1,435,856 and were on the market an average of 88 days. There were 78 status changes this week as well.

NORWALK CT CONDOS: There are currently 224 condominiums on the market listed at an average price  of $320,083 and they have been on the market  an average of 132 days. There were 9 new listings and no properties came back on the market. 2 Properties had a price change. In the last week,  9 properties went into CTS status,  and 5 properties went into pending status. The 6 properties  that closed in the last week had an average price of $344,500*** and were on the market  an average of 140 days.

*** The average price DOES NOT reflect two sales at Barclay's Landing in Rowayton that sold for $2.7 milion and another for just over $3.3 million in this past week. I felt that including them  in the average price for our purposes here might give a misimpression of  overall market pricing, and would be hard to decipher without knowing the local market intimately.  There were 50 status changes.

There are currently 159 rental opportunities in Norwalk at an average monthly price of $2384, and they have been on the market an average of 58 days.