Norwalk CT - Weekly Real Estate Market Statistics Report - September 27, 2011

NORWALK CT HOMES: The median list price in Norwalk is remaining fairly constant these past few weeks at  $437,000.  As of this morning, there are 477 homes that are actively on the market. These homes have been available an average of 116 days and are listed at an average of $727,890, which is consistent with 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.

Homes with three bedrooms comprise nearly 46 percent of the inventory, and their average price is $558,645  and they have been on the market an average of 111 days. There are 151 four  bedroom homes on the market that are listed at an average price of $862,824 and they have been on the market an average of 109 days.  

SINGLE FAMILY HOME INVENTORY based upon the current absorption rate: 12.10 months, and is up slightly again  from last week. The goal for a neutral market in Norwalk  is six months

Eleven new listings came on the market this week, and no homes  came back on the market after being under deposit.  There were 25 properties that had a price change. This was yet another solid week for deposits, and eleven properties have gone under the initial deposit stage, which we call CTS, and five 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 187 days.

CLOSINGS:  Twelve single family homes were reported sold this past  week.  These homes had an average price of $709,242 and  were on the market an average of 198 days. There were 84 status changes in the last week.

NORWALK CT CONDOS:  The 266 condominiums that are available in Norwalk are listed at an average price of $311,421 and have been on the market an average of 137 days, although the median price of a condo in Norwalk is still fairly consistent at $236,950. 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: 17.93 months, and is up  again from last week. The goal for a neutral condominium market in Norwalk  is eight months.

There were ten new listings this week, and four homes came back on the market after being under deposit. There were eleven properties that had a price change. In the last week, four properties went into CTS status,  and three properties went into pending status. Their average market time was 143 days.

CLOSINGS:  There was one condominium that were reported as closed in the last week, and it was listed at $195,000 and  was on the market for 168 days.  There were 48 status changes for the week.

RENTALS: If you are looking to rent year round, either furnished or unfurnished, there are 149 homes or apartments available. The median monthly price is $1,925 and the average price is $3,042 per month. These year round rental opportunities have been on the market an average of 40 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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