Business is booming in the Norwalk CT Homes for sale market and things are looking up!
Currently there are 234 single family Norwalk CT homes for sale. Listing prices range from a 5 bedroom and 2 bathroom home in South Norwalk for $175,000 to an actual island in the Rowayton area, called Tavern Island offering a Tudor with 6 bedrooms, 4 bathrooms and 3 powder rooms for $12,900,000 with year around mainland access. Interested in a private showing of either home? Or any properties in between? Click here to schedule a showing
Thirty-two Norwalk CT homes sold in February 2013.
The least expensive home sold for $157,000 and the most expensive home sold last month in Norwalk was purchased for $925,500 in West Norwalk. The median sold price of Norwalk CT Homes in February 2013 was $372,500, up from $350,000 in 2012 and $347,000 in 2011. Over the past two years we're looking at a 7.3% increase! Curious about the Norwalk CT homes sold during the last month? Wonder no more...here's the list of them. Many times I get the questions, "How's the market? Is anything selling?" The answers are: "The market is great. Homes priced right are moving right of the shelf and getting sold in Norwalk CT!"
Looking back at the history of Norwalk CT homes for sale and those that have sold, one measure I like to consider is the amount of housing inventory available by month.
For instance in February 2011, if no homes were added to that market of Norwalk CT homes for sale, it would have taken about 15 months to sell each home in Norwalk at the rate homes sold the previous month. Now let's compare that to February 2012 - the months of Norwalk homes for Sale inventory was 12.5 months. Are you starting to see a trend? In February 2013, the Norwalk Homes for Sale inventory was just over 2 months! That is amazing!
Anyone a student of economics? Remember the supply and demand chart? What happens when inventory decreases and demand increases? Wow -you're good! Yes, sales prices increase. Wondering if the trend will continue? Come back and check next month or visit our Facebook page on real estate and "Like" it for future market analysis postings, local and national real estate updates.
Thinking of selling a home, and wondering what it is worth? Click here Thinking about buying and wondering about the benefits of buying vs renting? You know what to do.... These links will help you get on your way.
If you have questions and or comments about the material presented, please feel free to email, text and/or call me directly. Until next month.....
Data: Courtesy of Consolidated Multiple Listing Service
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