2014 Fall Real Estate Market News Norwalk, Westport, Wilton

The lovely fall weather and low interest rates are keeping buyers motivated at this time of the year! Inventory is down again, which is limiting choices and helping to get rid of some of the older inventory. Sales numbers are holding steady and pending sales are looking good. Our summer market was stable, but as of now the buyers and sellers are ready for action before the winter hits.

Here are the latest statistics from Consolidated Multiple Listing system for the third quarter.

Inventory in Norwalk is down a bit compared to last quarter with 363 single family and 170 condos on the market right now. Home sales are holding steady with the third quarter showing similar numbers with181 single family homes and 66 condos sold. Next quarters numbers are off to a good start at with 93 pending sales.

Westport inventory is down from last quarter showing 330 single family homes and 16 condos for sale right now. Single family sales are up from the second quarter. The numbers show a total of 113 sales last quarter compared to131homes and 9 condos sold in the last three months. The next quarter numbers are looking good with a total of 33 properties which are under contract at this time.

Wilton single family inventory is also down from the first quarter showing 182 single family homes for sale as of October 1st. Condo inventory is holding steady, showing 7 units for sale. Wilton sales are down a bit from the second quarter. The numbers show a total of 84 sales in the second quarter compared to 75 homes and 9 condos sold within the last three months. Home sales under contract are down for the next quarter showing a total number of 12 at this time.

Our local real estate market is still on the move, despite the fact home prices are still in the adjustment phase. Experience shows, homes in great condition with current updates are more desirable to buyers and receive the highest prices. It is very important to listen to your experienced real estate agent when they present the Market Analysis report on your property. Careful research using recently sold properties are the best way to find the right price for your home. We are entering the last quarter of the year and the buyer momentum is there. Many of the families we are working with want to be in their new home for the Holidays. Let the sales continue!!!

Betty Bondi
Bondi Realty Group LLC
203-899-9990

 

 

 

 

 

 

 

 

 

 

 

 

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