Market Overview: Norwalk, CT

Single Family Properties




April Headlines
Norwalk
  • Price per square foot is down by 24.4%.
  • 3-month median price is up 17.1% to $497,500.
  • Months of supply in April was 7. This is up 8.3% from 6.5 in April of 2017.
Nearby Areas You May Be Interested In
  • Median price in Stratford is up 27.5% to $269,000.
  • 3-month days on market in Ridgefield in April was 105. This is down 28.1% from 146 in April of 2017.
  • Year-to-Date median price in Fairfield is down by 8.4%.
Headlines are based on comparisons between this month and the same month last year unless otherwise stated.

Changes Favoring Buyers
3 Months Ending April, 2018% Chg From Apr, 2017
Inventory 331 0.9%
Months of Supply 6.1 7.9%
Price per Sq Ft for Sold $238 -10.2%
Sales to List Price Ratio 96.5% 0.0%
New Listings 331 2.8%
Changes Favoring Sellers
3 Months Ending April, 2018% Chg From Apr, 2017
Unit Sales 121 3.4%
Median Sale Price $497,500 17.1%
Market Time (Days) 100 -8.3%
Went To Contract 144 5.9%
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Sales
There were 54 unit sales in April. This is up 25.6% from 43 in April of 2017. This is the highest unit sales have been since 61 in October, 2017. Sales/list price ratio in April moved down to 96.6% from 97.8% in March.

Prices
Median price in April was $500,750. This is down 1.8% from $510,000 in April of 2017. 3-month median price of $497,500 in April was very slightly up from $495,750 in March and up modestly from $425,000 in April of 2017. Price per square foot in April was $225. This is up from $213 in March but down from $298 in April of 2017.

Inventory
Inventory of 380 in April was up 14.1% from 333 in March and up 1.3% from 375 in April of 2017. New listings in April were 132, unchanged from the same month last year. Months of supply of 7 in April was up modestly from 6.3 in March and up slightly from 6.5 in April of 2017. On a year-over-year basis, months of supply has been rising for 4 months. This is the highest months of supply has been since September, 2016.

Market Time
Days on market of 94 in April was very slightly up from 91 in March but down modestly from 105 in April of 2017.


Change in Median Sale Price for Single Family Properties YTD From 2017 To 2018 for Towns in Fairfield County, CT Ranked by Best Performance
Towns% Change
Redding 22.06%
Norwalk 17.24%
Bridgeport 16.33%
Stratford 13.64%
New Fairfield 10.67%
Newtown 9.00%
New Canaan 6.16%
Stamford 4.88%
Danbury 4.44%
Greenwich 3.61%
Data From: SMARTMLS
Towns with an average of at least 5 sales per month (maximum of 10)
 








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