Norwalk CT Real Estate Market Report 5/17/11

The Norwalk real estate market is continuing to perform at a fairly steady pace, and remains one of the area's most predictable real estate markets.The  active  listing "price pockets" enjoying the most activity in Norwalk are between 350-400k, and between 500-600k  and represent 11 and 13 percent of the single family real estate market respectively. However, right now, the 350-400k price pocket is selling slightly better.

NORWALK CT HOMES: The median list price in Norwalk  is $467,500.  As of this morning, there are 498 homes actively on the market for  95 days and are listed at an average of $798,233. 26 new listings came on the market this week, and seven homes  came back on the market after being under deposit.  There were  28 properties that had a price change. This week, 23 properties have gone under the initial deposit stage, which we call CTS, and 13 properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close. CLOSINGS: A total of 13 single family homes sold this past  week, and that's nearly twice as many that sold last week. These homes had an average price of $554,208, and  were on the market an average of 99 days. There were 125 status changes in the last week.

NORWALK CT CONDOS:  The 290 condominiums that are available in Norwalk have been  listed an average price of $308,106 and have been on the market an average of 112 days, although the median price of a condo in Norwalk is $229,475.  Just over 20% of all the condominium activity is within the 200-250k range. There were 12 new listings, and no homes came back on the market. There were 18 properties that had a price change. In the last week, nine properties went into CTS status,  and five  properties went into pending status. CLOSINGS:  There were three condominiums that closed in the last week at an average price of $152,600 and were on the market an average of 114 days. There were 55 status changes for the week.

RENTALS: If you are looking to rent year round, either furnished or unfurnished, there are 103 homes or apartments available. The median monthly price is $1,530 and the average price is $2,391 per month. These year round rental opportunities have been on the market an average of 49 days.

There are only nine seasonal rentals  available throughout Norwalk, and they have been on the market an average of 56 days, and at an average price of $21,344. The median  price of both furnished and unfurnished seasonal rentals is now $11,500.

SOURCE: Market Data is compiled from the GFC-CMLS and represents activity through our local MLS system. Private sales are not included in these statistics