Norwalk CT Real Estate and Market Report Week of 1/7/2015

STABLE MARKET ON SINGLE FAMILY HOMES,  AND THE CONDO MARKET IS  HOT!: There are now 212 homes that are on the market in Norwalk. The currently available homes have been on the market an average of 126 days and have  a *cumulative market time of 186 days. They are listed at an average price of $991,197  and the median list price in Norwalk is currently at  $627,825. The highest priced home for sale in the city is listed at $10,995,000 and the lowest priced home available is $160,000.

Thirteen new listings came on the market this week, and one home came back on the market after being under deposit. There were nine properties that had a price change. Eleven properties have gone under the initial deposit stage, which we call CTS, and eight properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close. Their average price was $514,238.

TOWNWIDE DEPOSITS: There are 35 homes under the initial stage of deposit (which we call CTS), and another 48 properties that are scheduled to close, with an  average price of $620,492.

CLOSINGS:  Five single family homes were reported as sold in the last seven days. These homes had an average list price of $459.980 and were on the market an average of 92 days. There were 75 status changes in the last week.

NORWALK CT CONDOS:  BUYER/SELLER ACTION ALERT ON CONDOS- The 94 condominiums that are available in Norwalk are listed at an average price of $360,072 and have been on the market an average of 130 days, with a *cumulative market time of 176 days. The median price of a condo in Norwalk is now $299,400. The highest priced condominium for sale in the city is listed at $2,300,000 and the lowest priced condo/coop available is $10,000.

There were 14 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,  seven properties went into CTS status, and seven properties went into pending status, having an average price of $181,375. 

TOWNWIDE DEPOSITS: There are 26 properties in CTS status, and 27 pended properties scheduled to close. Their average price is $2224,900.

CLOSINGS: There were five condominiums  reported as closed in the last week, and were listed on average at $215,200 and average market time was 150 days. There were 48 status changes for the week.

RENTALS: If you are looking to rent year round, either furnished or unfurnished, there are 103 homes or apartments available. The median monthly price is $2,195 and the average price is $2,580 per month. These year round rental opportunities have been on the market an average of 59 days.

There are nine seasonal rentals available at this time, and are listed on average at $3,722. The median price is $3,450,  and  average market  time is 63 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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 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:

www.CThomesAndRealEstate.com      www.TheCTrealtyBlog.com     www.TheCTRB.com    and   www.CTfeaturedHomes.com 

Norwalk CT Housing and Real Estate Market Report Week of 11/19/13

NORWALK CT HOMES: There are now 264 homes that are  on the market in Norwalk. The currently available homes have been on the market an average of 120 days and have  a *cumulative market time of 157 days. They are listed at an average price of $858,990  and the median list price in Norwalk is  at  $524,500.

 The highest priced home for sale in the city is listed at $10,950,000 and the lowest priced home available is $149,999.

Twelve new listings came on the market this week, and three homes came back on the market after being under deposit. There were 12 properties that had a price change. Twelve properties have gone under the initial deposit stage, which we call CTS, and 16 properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close. Their average price was $503,800.

TOWNWIDE DEPOSITS: There are 57 homes under the initial stage of deposit (which we call CTS), and another 75 properties that are scheduled to close, with an  average price of $528,885.

CLOSINGS:  Sixteen single family homes were reported as sold in the last seven days. These homes had an average list price of $465,113 and were on the market an average of 133 days. There were 83 status changes in the last week.

NORWALK CT CONDOS: The 118 condominiums that are available in Norwalk are listed at an average price of $289,434 and have been on the market an average of 107 days, with a *cumulative market time of 153 days. The median price of a condo in Norwalk is $239,000. The highest priced condominium for sale in the city is listed at $1,675,000 and the lowest priced condo available is $19,000.

There were seven new listings this week, and four homes came back on the market after being under deposit. There were 13 properties that had a price change. In the last week,  12 properties went into CTS status, and six properties went into pending status.

TOWNWIDE DEPOSITS: There are 31 properties in CTS status, and 31 pended properties scheduled to close. Their average price is $231,273.

CLOSINGS: There were eight condominiums that were reported as closed in the last week, and they were listed on average at $306,112.  Average market time was 182 days. There were 55 status changes for the week.

RENTALS: If you are looking to rent year round, either furnished or unfurnished, there are 107 homes or apartments available. The median monthly price is $2,000 and the average price is $2,321 per month. These year round rental opportunities have been on the market an average of 42 days.

There are 11 seasonal rentals available at this time, and are listed on average at $5,527. The median price is $4,000, and  average market  time is 65 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!

 ** Get JUDY'S Exclusive BONUS For New HomeBuyers! CLICK HERE**

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:

www.CThomesAndRealEstate.com      www.TheCTrealtyBlog.com     www.TheCTRB.com    and   www.CTfeaturedHomes.com 

 Email us or  call Toll Free (855) GET-JUDY

Norwalk CT Real Estate Market Weekly Report & Update 11/1/11

NORWALK CT HOMES: Inventory has dropped a whopping five percent in one week! As of this morning, there are 443 homes that are actively on the market. These homes have been available an average of 128 days and are listed at an average price of $715,744. The median list price in Norwalk is now at $429,950.  

The highest priced home for sale in the city is listed at $5,975,000 and the lowest priced home available is $145,166.  

SINGLE FAMILY HOME INVENTORY based upon the current absorption rate: 13.74 months and is down from last week. The goal for a neutral market in Norwalk  is about six months.

Thirteen new listings came on the market this week, and two homes  came back on the market after being under deposit.  There were 10 properties that had a price change. Again, this was yet another solid week for deposits, and seven  properties have gone under the initial deposit stage, which we call CTS. Ten properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close. Their average price was $609,022 and their  market time was 102 days on average..

CLOSINGS:  It was a great week! Fifteen single family homes were reported sold.  These homes had an average price of $447,980 and  were on the market an average of 130 days. There were 86 status changes in the last week.

NORWALK CT CONDOS:  The 278 condominiums that are available in Norwalk are listed at an average price of $304,456 and have been on the market an average of 132 days, although the median price of a condo in Norwalk has dropped slightly to $230,750. The highest priced condominium for sale in the city is listed at $2,650,000 and the lowest priced condo available is $39,500.

CONDOMINIUM  INVENTORY based upon the current absorption rate: 20.18 months, and up again from last week. The goal for a neutral condominium market in Norwalk is about eight months.

There were four 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, three properties went into CTS status,  and four properties went into pending status at an average price of $311,175 after being on the market for 317 days.

CLOSINGS:  There were seven condominiums that were reported as closed in the last week, and they were listed on average at $303,971 and  on the market an average of 127 days.  There were 36 status changes for the week.

RENTALS: If you are looking to rent year round, either furnished or unfurnished, there are 150 homes or apartments available. The median monthly price is $1,847 and the average price is $2,983 per month. These year round rental opportunities have been on the market an average of 48 days.

There are no seasonal rentals available at this time in Norwalk.

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.

f 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

Norwalk CT - Weekly Real Estate Market Statistics Report - October 18, 2011

NORWALK CT HOMES: We've had a decent week in sales and projected sales, but the marekt seems somewhat sporadic and a little on the volatile side.  The changes occurring week by week, and they indicate a somewhat slower market ahead. It is not the same market that it was earlier this year. Hopefullty that will change come 2012.

The median list price in Norwalk has dropped again ever so slightly after remaining fairly constant for the past few weeks to where it is now at $430,000.  As of this morning, there are 465 homes that are actively on the market. These homes have been available an average of 121 days and are listed at an average price of $720,137.

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: 14.26 months. The goal for a neutral market in Norwalk  is six months.

Just five new listings came on the market this week, and two homes  came back on the market after being under deposit.  There were 17 properties that had a price change. Again, this was yet another solid week for deposits, and seventeen properties have gone under the initial deposit stage, which we call CTS, and ten properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close. Their average price was $551,400 and their  market time was 168 days on average..

CLOSINGS:  Eight  single family homes were reported sold this past  week.  These homes had an average price of $403,900 and  were on the market an average of 85 days. There were 77 status changes in the last week.

NORWALK CT CONDOS:  The 277 condominiums that are available in Norwalk are listed at an average price of $307,232 and have been on the market an average of 134 days, although the median price of a condo in Norwalk is still fairly consistent at $234,500. The highest priced condominium for sale in the city is listed at $2,650,000 and the lowest priced condo available is $39,500.

CONDOMINIUM  INVENTORY based upon the current absorption rate: 17.80 months, and virtually unchanged from last week. The goal for a neutral condominium market in Norwalk is about eight months.

There were eight new listings this week, and one home came back on the market after being under deposit. There were 21 properties that had a price change. In the last week, six properties went into CTS status,  and four properties went into pending status after being on the market for 170 days.

CLOSINGS:  There were four condominiums that were reported as closed in the last week, and they were listed on average at $319,750 and  on the market an average of 154 days.  There were 54 status changes for the week.

RENTALS: If you are looking to rent year round, either furnished or unfurnished, there are 137 homes or apartments available. The median monthly price is $1,850 and the average price is $3,009 per month. These year round rental opportunities have been on the market an average of 47 days.

There are no seasonal rentals available at this time in Norwalk.

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.

f 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

Norwalk CT Real Estate Market Conditions, Forecast and Advice -10/2011

Norwalk, Connecticut  is an historic and  diverse city of 36.3 square miles and approximately 80,800 residents living in  31,700 households. Incorporated in 1651, just over 31 percent of the current housing stock was built prior to 1950. Approximately 60 percent of the homes are owner occupied.

I am pleased to present to you my real estate market predictions and buying and selling advice for Norwalk, CT. My experience spans over 26 years, and I have seen hot markets come and go, and bad markets come and go. I always find it funny how the media predicts that the real estate market is going up or down in the state, but you know as well as I do, that  each city has its own type of market, and within the city, there are areas that sell faster than others, and homes on particular streets that sell  slower than others. You really cannot generalize the market in a rational way. Deciphering the real estate market, is, and has to be, local and historical.

With that being said, I offer my opinions on the market for the coming months. Everyone's particular situation is different, and  if you need to buy or sell in Norwalk at a particular time, then you should do it. You should also contact me to assist you! (OK, Shameless plug) You know people have been asking me for years, "what do you think is going to happen in the real estate market?" and I say, "Well, if I knew that, I probably wouldn't be selling real estate, because I would have some type of amazing talent that NO ONE has ever possessed" That being said, I AM very good at numbers, statistics, and forecasting, so after doing extensive research, calculations, and taking into account the current economic climate, I present to you the following:
 
State of the Market: Current home sales averages at about 33 per month and is down from last quarters sales by about 20 percent. The second quarter  usually posts the strongest activity for the year, but the absorption rate is still a it lower than I would like at this time. Final third quarter numbers are not all in, but I do think we are in for a little lull in activity, until February with just a slight upsurge at the end of December. Inventory is down from last quarter, but still up signifcantly from the first half of the year. Condo sales are averaging about 14 per month, but have declined from the last quarter's peak of nearly 20 per month. 

What's Ahead in General:  I am just a little concerned about what's going on in Norwalk's real estate market. Prices have been consistent, but the sales are "all over the lot", meaning they really don't match what other data is telling us about the market. I am not concerned enough to say don't sell if you want to sell, or don't buy if you want to buy, just make sure you have ALL of the facts before you delve into a real estate transaction, and that means detailed analyses to make sure the price you are selling at, or the price you are purchasing your home at is in fact the best market price. I do not anticipate any big changes in pricing anytime soon. On the plus side, market time has gotten better and better throughout the year.  
 
ADVICE FOR SELLERS: Is there a better time to sell your home in Norwalk? Yes, List it in the beginning of the year.  As of today, there is over a year's supply of inventory, although the current supply is lower than it has been. While I might advise you to go ahead and list your home now and get a jump on the market, other indicators tell me to advise you to wait until January, unless you really need to sell your home very quickly. There is no urgency at the moment, and no bonuses if you choose to sell now, or start at the beginning of the year instead.

On the other hand, iIf you want to sell your condo, do it now. Right now. I am watching the condo market prices and I think it's best to get in while the getting is good. Sure there is over a year and a half inventory supply, but the prices have declined a little, and that troubles me just enough to advise you to sell now, instead of waiting for next year. Nothing to be overwhelmed about, I am just saying if it was me selling my own condo, I would do it now. Just remember, you REALLY have to price your home right, there is no question about it. Think about it this way- with the amount of overpriced listings available, you should have no problems. There is activity, take advantage of it.
 
ADVICE FOR BUYERS:If you are looking to buy in Norwalk CT, now is as good of a time as any. The rates are low, and there is still enough inventory to choose from. I wouldn't delay, but there is no dire urgency,  and you may have a better selection of properties come February or March. Give yourself some time if you want to look now, and if you don't find something you like right away, it will come. You should be able to negotiate a little, so look at some of the houses that seem to be priced a little out of their range. I wouldn't be surprised if the sellers went with a lower offer. If you are looking to buy a condo in Norwalk, you have absolutely wonderful negotiating power, take advantage of it.

BEST BETS FOR BUYERS AND SELLERS: Three bedroom homes, and/or homes priced within the $300,000-$400,000 range. Two bedroom condos, and/or condos priced between $200,000-$300,000.

f 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

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