Norwalk CT - Weekly Real Estate Market Statistics Report - September 13, 2011

NORWALK CT HOMES: The median list price in Norwalk has dropped slightly to $437,000.  As of this morning, there are 460 homes actively on the market. These homes have been available an average of 115 days and are listed at an average of $739,018.

The highest priced home for sale in the city is listed at $5,975,000 and the lowest priced home available is $149,900.

SINGLE FAMILY HOME INVENTORY based upon current absorption rate: 10.87 months

Sixteen new listings came on the market this week, and five homes  came back on the market after being under deposit.  There were 26 properties that had a price change. This was yet another solid week for deposits, and five 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. Their average market time was 97 days.

CLOSINGS:  Five single family homes were reported sold this past  week.  These homes had an average price of $549,780 and  were on the market an average of 100 days. There were 85 status changes in the last week.

NORWALK CT CONDOS:  The 266 condominiums that are available in Norwalk are listed at an average price of $312,762 and have been on the market an average of 143 days, although the median price of a condo in Norwalk is still fairly consistent at $237,000. The highest priced condominium for sale in the city is listed at $2,650,000 and the lowest priced condo available is $42,500.

CONDOMINIUM  INVENTORY based upon current absorption rate: 14.72 months

There were six new listings this week, and one home came back on the market after being under deposit. There were seven properties that had a price change. In the last week  four properties went into CTS status,  and seven properties went into pending status. Their average market time was 84 days.

CLOSINGS:  There was just one condominium that was reported as closed in the last week, and it was listed at $375,000 and  was on the market for 45 days.  There were 43 status changes for the week.

RENTALS: If you are looking to rent year round, either furnished or unfurnished, there are 142 homes or apartments available. The median monthly price is $1,912 and the average price is $2,863 per month. These year round rental opportunities have been on the market an average of 34 days.

There is just one seasonal rental available throughout Norwalk, and it has been on the market  97 days, and a price of $13,000. The median  price of both furnished and unfurnished seasonal rentals is  $13,000.

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.

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Comments

[Jackie]

Interesting data- it's no big surprise that the Connecticut condominium is selling a lot faster than the homes. Hopefully both markets will start to pick back up sooner than later!