Spring Market 2015 update Norwalk, Wilton, Westport – First quarter sales are in!!

Spring Market update – First quarter sales are in!!

Happy Spring! Mother Nature hasn’t gotten the memo yet, but after a long and weary winter we are ready for sunshine and warm temperatures. Inventory is slowly starting to increase, but more is needed as the buyers are responding to the change in seasons and Sunday open houses have a steady pace of activity.

The surge in activity has caused some price points to stabilize while others are starting to increase. Short sale listings are down, but foreclosures are still coming onto the marketplace, which can hurt values in neighborhoods or towns with an abundance of these listings.

Here are the latest statistics from Consolidated Multiple Listing system.

As we enter the spring marketplace, Norwalk’s housing market is showing lots of activity. The inventory is up compared to last quarter. We currently have 374 single family homes and 157 condos for sale at this time. Even though inventory is up, there are still many overpriced homes in poor condition for sale, resulting in stagnant listings. Buyers are being very selective. It’s very difficult for some people to purchase a home that needs work and still have money left over to fix it up.

Norwalk home sales are down from last quarter. Sales from January 1 to March 31st are showing 110 single family and 69 condos sold. Even though sales numbers are lower, there was still good activity over the winter months and we are still waiting for some properties to close.

Westport’s active housing inventory is also on the increase. Currently, active listings are 368 single family and 12 Condos for sale. Sales numbers were down from January to March. Westport’s first quarter numbers are showing 66 single family and 5 condos sold.

Wilton’s current active inventory is close to last quarter. The numbers are showing 191 single family and 12 condos for sale. Last quarter’s sales numbers are down with 29 Single family homes and 3 condos sold.

We are finding there is an abundance of first time homebuyers ready to purchase their new homes. As a result we are seeing prices starting to increase which 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, so that you can make the right decision when buying or selling a property.

 

Betty Bondi
Bondi Realty Group LLC
203 899-9990

 

 

 

 

 

 

 

 

 

 

 

 

 

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