Norwalk CT Real Estate Market Statistics Report 5/24/11

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, and I cannot say that for other towns  The  active  listing "price pockets" enjoying the most activity in Norwalk are between 350-400k, and between 500-600k  and still represent approximately 11 and 13 percent of the single family real estate market respectively.  Overall, Norwalk is great for both buyers and sellers. Strike while the iron is still hot, and  get your home before the inventory gets too low to have your pick.

NORWALK CT HOMES: The median list price in Norwalk  is $465,750.  As of this morning, there are 491 homes actively on the market for  96 days and are listed at an average of $796,004. Twenty-three  new listings came on the market this week, and two homes  came back on the market after being under deposit.  There were  15 properties that had a price change. This week, 20 properties have gone under the initial deposit stage, which we call CTS, and 14 properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close. CLOSINGS: A total of eight single family homes sold this past  week.These homes had an average price of $541,500, and  were on the market an average of 104 days. There were 99 status changes in the last week.

NORWALK CT CONDOS:  The 291 condominiums that are available in Norwalk have been  listed an average price of $306,932 and have been on the market an average of 117 days, although the median price of a condo in Norwalk is consistent at $229,000.  Just over 20% of all the condominium activity is within the 200-250k range. There were six new listings, and two homes came back on the market. There were 13 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 $316,600 and were on the market an average of 217 days. There were 44 status changes for the week.

RENTALS: If you are looking to rent year round, either furnished or unfurnished, there are 115 homes or apartments available. The median monthly price is $1,500 and the average price is $2,309 per month. These year round rental opportunities have been on the market an average of 46 days.

There are only seven seasonal rentals  available throughout Norwalk, and they have been on the market an average of 71 days, and at an average price of $24,571. The median  price of both furnished and unfurnished seasonal rentals is now $14,500.

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