Norwalk CT Housing and Real Estate Market Report Week of 2/3/14

BUYER/SELLER ACTION ALERT is still in effect! Deposit ratios continue to be among the highest in the region! There's been quite a drop in inventory over last  few weeks- there are just 199 homes that are on the market in Norwalk. The currently available homes have been on the market an average of 121 days and have  a *cumulative market time of 179 days. They are listed at an average price of $855,885  and the median list price in Norwalk is now  $524,000.

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

Twenty-one new listings came on the market this week, and four homes came back on the market after being under deposit. There were six properties that had a price change. Nineteen properties have gone under the initial deposit stage, which we call CTS, and 11 properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close. Their average price was $565,655.

TOWNWIDE DEPOSITS: There are 49 homes under the initial stage of deposit (which we call CTS), and another 59 properties that are scheduled to close, with an  average price of $498,178.

CLOSINGS:  Nine single family homes were reported as sold in the last seven days. These homes had an average list price of $420,422 and were on the market an average of just 71 days. There were 79 status changes in the last week.

NORWALK CT CONDOS: The 112 condominiums that are available in Norwalk are listed at an average price of $295,932 and have been on the market an average of 105 days, with a *cumulative market time of 161 days. The median price of a condo in Norwalk remans at $229,000. 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 14 new listings this week, and four homes came back on the market after being under deposit. There were six properties that had a price change. In the last week, 10 properties went into CTS status, and five properties went into pending status.

TOWNWIDE DEPOSITS: There are 22 properties in CTS status, and 32 pended properties scheduled to close. Their average price is $260,171.

CLOSINGS: There were four condominiums  reported as closed in the last week, and were listed on average at $338,250, and average market time was 58 days. There were 46 status changes for the week.

RENTALS: If you are looking to rent year round, either furnished or unfurnished, there are  86 homes or apartments available. The median monthly price is $1,900 and the average price is $2,036 per month. These year round rental opportunities have been on the market an average of 50 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 97 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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