Norwalk, Westport, Wilton 2016 First quarter sales numbers
Local Spring Market 2016 update – First quarter sales are in!!
Happy Spring! Mother Nature hasn’t gotten the memo yet, but after a mild winter we are ready for sunshine, warm temperatures and a strong real estate market. 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 resulted in multiple offers on many properties and prices are slowly on the increase. So if you were thinking of listing your property for sale, now is the time.
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 429 single family homes and 189 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 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 115 single family and 60 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 424 single family and 12 Condos for sale. Sales numbers were down from January to March. Westport’s first quarter numbers are showing 67 single family and 5 condos sold.
Wilton’s current active inventory is up from last quarter. The numbers are showing 259 single family and 20 condos for sale. Last quarter’s sales numbers are down with 28 Single family homes and 7 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 experienced local 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. Local is best!!
Betty Bondi
Bondi Realty Group LLC
Helping you make the right move!
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
Spring is here and the local housing market is making a huge comeback. The buyers are out there searching for their dream home in all price ranges. There is a good amount of inventory happening right now which makes it a nice balance for everyone. Prices are on the increase in Norwalk and the surrounding towns which is making it harder for the first time homebuyer to purchase a new home. This is the time to buy as next year’s prices are projected to increase.
There are new compliance rules coming in to play on August 1st of this year. It may affect and delay closing times as attorneys and banks struggle to comply with the new laws. As Realtors we struggle everyday trying to keep up with some of the new laws. Its groups like the National Association of Realtors who represents us in making sure that we understand the meaning of these new laws. They also try to make sure our voice is heard by our elected officials
This article about the new compliance law was written by Robert Freeman from the National Association of Realtors.
Don’t Get Thrown by Doc Overhaul
Timely closings will require advance planning under new compliance rules.
August 1 will be a big day for real estate professionals because that’s when two new closing forms—a Loan Estimate and a Closing Disclosure—will replace the three forms you’re used to working with: the HUD-1 Settlement Statement, the Good Faith Estimate, and the Truth-in-Lending disclosure form.
The purpose of the new forms, which were created by the Consumer Financial Protection Bureau with input from consumers and industry groups, including the National Association of REALTORS®, is to consolidate information and make it simpler for consumers to compare how close their costs are to what was originally estimated by the lender. The first page of the new Loan Estimate and the new Closing Disclosure are formatted in exactly the same way, so you and your clients can easily compare costs and note any changes. Expect refinements to the forms after they are released as the CFPB sees how well they work in the real world.
Although the information required isn’t much different, some of the compliance requirements are new. NAR analysts say the new procedures could prove challenging for two reasons.
First, the CFPB is requiring the closing disclosure to be given to the buyer three days before closing. That’s to allow consumers time to look carefully at any deviations from the original estimates rather than make them consider the changes while the closing is underway. That’s a positive change for consumers, but it means if you’re used to getting everything done at the last minute, you’ll have to do a better job of planning ahead to accommodate the new rules.
If there are any changes to the loan product or the interest rate once the closing disclosure has been given to the buyer that could trigger a new three-day waiting period. Other changes requiring lender approval could add even more time to the waiting period. The additional holding period can be waived in certain emergency situations, such as an impending bankruptcy.
These timing issues make it important to complete your paperwork and have it fully reviewed by all parties well before you get to the closing table. NAR recommends you give yourself a seven-day cushion before closing to get everything done. To that end, make sure buyers have seen the paperwork at least a week before a scheduled closing and that sellers do nothing at the last minute that could derail a transaction, like removing a light fixture that they agreed in the sales contract to leave in the house. You’ll also want to schedule the buyer’s walk-through well before the closing date so if anything is amiss, issues can be worked out well before the closing.
Given the possibility of changes triggering another waiting period or a last-minute change requiring lender approval, you should assume it will take an additional 15 days to complete a closing, NAR analysts say. That means if closings in your state typically take 30 days, allow 45 days. Over time, as the industry adjusts to the changes, those additional days might no longer be necessary. But for now, plan for a longer process.
Betty Bondi
Bondi Realty Group LLC
203-899-9990
Move in ready Townhouse on Norwalk/Wilton line
67 Fawn Ridge Lane, Norwalk, CT – $359,000
Move in ready- townhouse style condo in convenient location close to shopping and Route 7. Living Room & Dining area feature fireplace and beautiful gleaming hardwood floors which walk out to spacious private deck, great for entertaining or relaxing. Lovely eat in kitchen with stainless appliances and window seat. Spacious Master bedroom with full bath and large closets. Guest bedroom with its own fully remodeled bath. Full unfinished basement can accommodate tons of storage or you can finish it for extra living space. Attached garage and plenty of guest parking. Well maintained complex offers pool, tennis courts and lovely landscaped open space with beautiful plantings.
Recent improvements:
Hybrid Electric Hot Water Heater, Remodeled bathroom in guest/2nd bedroom, Replaced all of the interior doors and updated hardware, Replaced deck slider with energy efficient door, Stainless steel appliances, Added attic insulation and insulated sky light wells, Vents cleaned Sept 2014 & Windows & HVAC system were updated in 2008.
Contact Bondi Realty Group for your private showing today!
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