Get ready, Get set, Go!
The first time homebuyers are out hitting the streets. They are qualified and ready to buy their first home. Prices are at the lowest point in ten years and the smart people know its time to make a deal. Rental costs are at an all time high and are becoming more difficult to find. Add to these great interest rates and you have the perfect storm.
Some buyers are still waiting for the bottom of the market to hit. Hello, that time is already here in certain price ranges. The sweet spot in Norwalk are homes that are priced under $400,000.
Here is the latest update for the first quarter statistics.
Inventory in Norwalk is about the same as last year with 412 single family and 212 condos on the market right now. Single family sales are about the same as last year. The numbers show 76 homes and 41 condos sold the first quarter. The big difference is that the homes which have offers and contracts on them are showing a total number of 179 as of April 1st. If all of these properties close soon, the numbers for next quarter will be much higher showing an upward trend of better numbers for home sales in the very near future.
Westport inventory is showing 338 single family homes and 18 condos for sale right now. Single family sales are up from the same time last year. There were 63 single family and 4 condos which sold in the first quarter of 2012. The next quarter numbers are off to a good start with a total of 73 properties that are under contract at this time.
Wilton single family inventory is up from the same time last year showing 206 single family homes. Condo inventory is down, showing only 13 for sale. Wilton numbers are exactly the same as last year with 29 single family homes recorded as sold. Condo numbers are down with only 1 sold the first quarter. Home sales are looking positive for the next quarter with a total of 45 under contract so far.
As we enter the second quarter it appears that things are finally turning the corner. Buyers are feeling more secure and are willing to take the plunge into home ownership. Sellers are probably hoping that prices will start to climb, but that doesn’t appear likely. There are still many short sales to contend with at this time which have a negative effect on home prices. My suggestion is if you have been thinking about buying a property, get qualified for a mortgage, hire a professional Realtor at Bondi Realty and go!!!
Betty Bondi
Bondi Realty Group LLC
203-899-9990