Norwalk CT - Weekly Real Estate Market Statistics Report - September 20, 2011

NORWALK CT HOMES: The median list price in Norwalk is remaining fairly constant these past few weeks at  $437,450.  As of this morning, there is a nice upsirge in availbale properties bringing the total to 478 homes that are actively on the market. These homes have been available an average of 114 days and are listed at an average of $726,096, which is a slight dip over last week..

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 the current absorption rate: 11.36 months, and is up slightly from last week. The goal for a neutral market in Norwalk  is six months

Twenty-two new listings came on the market this week, and two homes  came back on the market after being under deposit.  There were 21 properties that had a price change. This was yet another solid week for deposits, and seventeen properties have gone under the initial deposit stage, which we call CTS, and four 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 133 days.

CLOSINGS:  Nine single family homes were reported sold this past  week.  These homes had an average price of $465,656 and  were on the market an average of 148 days. There were 96 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 the current absorption rate: 15.66 months, and is up  from last week. The goal for a neutral condominium market in Norwalk  is eight months.

There were ten new listings this week, and one home came back on the market after being under deposit. There were ten 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 130 days.

CLOSINGS:  There were three condominiums that were reported as closed in the last week, and it was listed at $239,667 and  were on the marketan average of 154 days.  There were 49 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 $1,925 and the average price is $2,931 per month. These year round rental opportunities have been on the market an average of 37 days.

There are two seasonal rentals available throughout Norwalk, and they have been on the market an average of  89 days, and their average price is  $7,875. The median  price of both furnished and unfurnished seasonal rentals is  $7,875

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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