Norwalk CT Housing and Real Estate Market Report Week of 2/19/14

BUYER/SELLER ACTION ALERT The Spring market is already here, but these ratios are certain not to continue at this wonderfully brisk pace.   Inventory is not growing fast enough- There are just 205 homes that are on the market in Norwalk. and that is ony a net increase of just four homes over last week. 

The currently available homes have been on the market an average of 120 days and have  a *cumulative market time of 170 days. They are listed at an average price of $888,972  and the median list price in Norwalk is holding fairly steady at  $530,000.

 The highest priced home for sale in the city is listed at $10,950,000 and the lowest priced home available is $125,000.

Nieteen new listings came on the market this week, and one home came back on the market after being under deposit. There were seven properties that had a price change. Twelve 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 price was $734,998.

TOWNWIDE DEPOSITS: There are 49 homes under the initial stage of deposit (which we call CTS), and another 65 properties that are scheduled to close, with an  average price of $552,149.

CLOSINGS:  Six single family homes were reported as sold in the last seven days. These homes had an average list price of $1,050,467 and were on the market an average of 50 days. There were 60 status changes in the last week.

NORWALK CT CONDOS: The 108 condominiums that are available in Norwalk are listed at an average price of $303,514 and have been on the market an average of 108 days, with a *cumulative market time of 163 days. The median price of a condo in Norwalk remians at $232,500. The highest priced condominium for sale in the city is listed at $1,850,000 and the lowest priced condo available is $19,000.

There were six new listings this week, and three homes came back on the market after being under deposit. There were five properties that had a price change. In the last week, seven properties went into CTS status, and two properties went into pending status.

TOWNWIDE DEPOSITS: There are 28 properties in CTS status, and 28 pended properties scheduled to close. Their average price is $262,731.

CLOSINGS: There were three condominiums  reported as closed in the last week, and were listed on average at $181,300, and average market time was 174 days. There were 30 status changes for the week.

RENTALS: If you are looking to rent year round, either furnished or unfurnished, there are  96 homes or apartments available. The median monthly price is $1,875 and the average price is $1,994 per month. These year round rental opportunities have been on the market an average of 49 days.

There are four seasonal rentals available at this time, and are listed on average at $17,425. The median price is $13,900, and  average market  time is 111 days.  PLEASE NOTE: Seasonal rental prices are sometimes listed as the price for the entire term, and not as monthly rental figures.

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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The Featured Home of the Week is a 3 bedroom, 2 bath ranch home at 20 Hickory Drive, Westport  for just $549,900. See the virtual tour HERE 

 .....or better yet, call Judy to schedule an appointment to see it!

 Buying or Selling a Home in Norwalk?  Contact us!

If you have a question about buying or selling Real Estate in  Norwalk, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :) - Judy

Search for properties on any of our sites, or get the very best visibility available for your home. Visit us online wherever you like:

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