Summer Market update 2015 – Norwalk, Westport, Wilton CT

Summer Market update 2015 – 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 due to the warmer temperatures and the buyers are shopping like crazy. The first time homebuyers are very selective and do a lot of research before selecting their home. Most of them do their shopping on major real estate websites such as Zillow and Realtor.com. Mortgage rates are very good coming in around 4 to 4.25%. This is another reason our housing market is still strong.

Here are the latest statistics from Consolidated Multiple Listing system.

As we enter the summer marketplace, Norwalk’s housing market is showing lots of activity. The inventory of active and pending listings is up compared to last quarter. We currently have 561 single family homes and 201 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 from last quarter. Sales from April 1 to June 30th are showing 171 single family and 87 condos sold.

Westport’s active housing inventory is also on the increase. Currently, active listings are 478 single family and 14 Condos for sale. Sales numbers are up from April 1st to June 30th. Westport’s second quarter numbers are up and showing 96 single family and 7 condos sold.

Wilton’s current active inventory is up from last quarter too. The numbers are showing 254 single family and 18 condos for sale. Last quarter’s sales numbers are up significantly with 72 Single family homes and 11 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 and hold the deal together, so that you can make the right decision when buying or selling a property.

 

Betty Bondi
Bondi Realty Group LLC
203-899-9990

 

 

 

 

 

 

 

 

 

 

 

 

© 2017 Bondi Realty Group, LLC licensed in the state of Connecticut | Last modified: 02 July 2015 | Log in | IDX | Real Estate Web: darrylo