Year-To-Date home prices in Norwalk are currently trending up 2% versus last year. This is primarily being driven by low inventory levels (the number of properties for sale is down 22% versus the same time last year). Overall, Norwalk sellers are seeing a lot of competition and multiple offer situations on well-priced homes.
Today’s buyers are well informed and cost conscious – pricing your home right when listing it is more important than ever. To find out what your home is worth, call Tanya at 203.919.7479 or request a complimentary Current Market Analysis on your home.
Below is a detailed summary of Property Sales, Prices and Housing Inventory. To view recently sold homes, Click Here.
October property sales were 94, the same as October 2016 and 27.0% higher than the 74 sales last month. October 2017 sales were at a mid-level compared to October of 2016 and 2015. October YTD sales of 891 are running 1% ahead of last year’s year-to-date sales.
The median sales price in October was $400,000, up 0.6% from $397,500 in October of 2016 and down -6.4% from $427,500 last month. The average sales price in October was $514,062, down -1.2% from $520,494 in October of 2016 and down -2.4% from $526,671 last month. October 2017 ASP was at a mid range compared to October of 2016 and 2015.
Inventory & MSI (Month’s Supply of Inventory)
The total inventory of properties available for sale as of October was 450, down -5.1% from 474 last month and down -22.3% from 579 in October of last year. October 2017 Inventory was at the lowest level compared to October of 2016 and 2015.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The October 2017 MSI of 4.9 months was at its lowest level compared with October of 2016 and 2015.