Market Overview: Norwalk, CT

Single Family Properties




December Headlines
Norwalk
  • Unit sales are down by 32.3%.
  • Days on market is down 26.3% to 98.
  • Median price in December was $440,000. This is down 8.3% from $480,000 in December of 2016.
Nearby Areas You May Be Interested In
  • 3-month price per square foot in Fairfield is down 4.3% to $266.
Headlines are based on comparisons between this month and the same month last year unless otherwise stated.

Changes Favoring Buyers
3 Months Ending December, 2017% Chg From Dec, 2016
Unit Sales 147 -16.5%
Median Sale Price $450,000 -4.0%
Went To Contract 140 -25.9%
Changes Favoring Sellers
3 Months Ending December, 2017% Chg From Dec, 2016
Inventory 297 -11.6%
Months of Supply 5.4 -5.9%
Market Time (Days) 96 -16.5%
Price per Sq Ft for Sold $255 2.3%
Sales to List Price Ratio 96.1% 0.9%
New Listings 154 -8.9%
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Sales
There were 44 unit sales in December. This is down 32.3% from 65 in December of 2016. Sales/list price ratio in December moved up to 96.7% from 95.6% in November.

Prices
Median price in December was $440,000. This is down 8.3% from $480,000 in December of 2016. 3-month median price of $450,000 in December was down just slightly from $457,500 in November and down a little from $468,750 in December of 2016. Price per square foot in December was $236. This is down from $272 in November and down from $245 in December of 2016.

Inventory
Inventory of 248 in December was down 16.2% from 296 in November and down 8.5% from 271 in December of 2016. New listings of 32 in December were way down from 49 in November and down moderately from 44 in December of 2016. Months of supply of 4.5 in December was down a little from 5.3 in November and down marginally from 4.7 in December of 2016. This is the lowest months of supply has been since January, 2017.

Market Time
Days on market of 98 in December was up modestly from 83 in November but down considerably from 133 in December of 2016.


Change in Median Sale Price for Single Family Properties YTD From 2016 To 2017 for Towns in Fairfield County, CT Ranked by Best Performance
Towns% Change
Bridgeport 13.07%
Danbury 11.11%
Trumbull 6.38%
Greenwich 5.88%
Norwalk 5.11%
Darien 4.35%
Bethel 4.23%
Stamford 2.93%
Monroe 2.88%
Stratford 2.81%
Data From: SMARTMLS
Towns with an average of at least 5 sales per month (maximum of 10)
 








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