Local Summer Market update- Norwalk, Westport, Wilton, CT – 2016 – Second quarter sales are in!!

Happy Summer everyone! The temperatures are finally warming up and the sunshine is abundant as we approach the 4th of July to celebrate the birth of our country. The weather is perfect for the upcoming weekend and the beach is ready for picnics and fireworks.

There has been steady activity since the early spring and the buyers are shopping and looking for their homes. The first time homebuyers are very selective and do a lot of research before making their decision. Most of them do their shopping on major real estate websites such as Zillow and Realtor.com. Mortgage rates are great and are coming in around 3.5 to 3.75%. These super low rates are keeping our housing market strong.

Here are the latest statistics from Consolidated Multiple Listing system.

As we enter the summer marketplace, Norwalk’s housing market is holding steady in activity. The inventory of active and pending listings is up compared to last quarter. We currently have 517 single family homes and 196 condos for sale at this time. Even though inventory is up, there are many overpriced homes in poor condition for sale, resulting in stagnant listings. Buyers are being very picky. They prefer a home that is in move in condition and will pay a higher price for it.

Norwalk home sales have increased significantly from last quarter. Sales from April 1 to June 30th are showing 205 single family and 89 condos sold.

Westport’s active housing inventory is also on the increase. Currently, active & pending listings show 469 single family and 13 Condos for sale. Sales numbers are up from April 1st to June 30th. Westport’s second quarter numbers are good, showing 127 single family and 7 condos sold.

Wilton’s current active inventory is up from last quarter too. The numbers are showing 295 single family and 17 condos for sale. Last quarter’s sales numbers are up significantly with 79 Single family homes and 13 condos sold.

We are finding there are an abundance of first time homebuyers ready to purchase their new homes. As a result we are seeing prices starting to increase very slowly in the lower price points. This is causing buyers to get caught up in multiple offer bids. If your one of those buyers, my advice is don’t hesitate. Get out there; you may miss out on that one home that’s right for you.

The importance of working with a seasoned experience Realtor comes into play for both buyers and sellers. Our job as professionals is to guide you through the transaction and hold the deal together. Bondi Realty is a local real estate company. We understand our hometown marketplace. Keep us in mind when you are ready to make the right move!


Betty Bondi
Bondi Realty Group LLC

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