Local Real Estate Market News – Third Quarter
Here are a few statistics from Consolidated Multiple Listing system.
As of October 2011 Norwalk is showing a decline in inventory compared to last quarter. Currently there are 472 single family homes and 269 condominiums on the market. Those inventory numbers are down from last quarter’s number of 490 single family homes and 283 condos. In the first quarter of 2011, 83 single family and 39 condos sold. Home sales were up for the second quarter 125 single family homes and 55 condominiums sold. The third quarter numbers are in. Single family homes are recording a dip in sales with 106 homes sold. Condominiums sales are down too with 46 units sold.
Inventory is also down in Westport as there are currently 336 single family homes and 28 condos on the market at this time. The second quarter showed 379 single family homes and 30 condominiums on the market. In the first quarter of 2011, 49 single family homes and 4 condos have sold. Sales were up for the second quarter at 118 single family homes and 11 condominiums sold. The third quarter numbers are reflecting a decline in sales showing that 104 Single family homes and 8 condos sold.
Wilton is currently showing a decrease of inventory with 197 single family homes and 8 condos currently for sale. The second quarter inventory numbers recorded 227 single family homes and 16 condos for sale. In the first quarter of 2011, 29 single family homes and 5 condos have sold. Sales were up for the second quarter at 43 single family homes and condo sales remain flat at 5. Third quarter sales numbers are up and showing that 54 single family homes and 6 condos sold.
It appears that home sales still have a long way to go, but we have fared so much better than other parts of the country. Mortgage rates are at an all time low and banks are starting to lend again. Hopefully at some point single family and condo buyers will feel more secure leading to more sales and property price increases in the near future. Call us today for all of your real estate needs.
Betty Bondi
Owner/ Broker
www.BondiRealtyGroup.com
203-899-9990