Housing Recovery is on its way!
The fall housing market is upon us. The good news is that home sales are still moving forward. Sales have remained steady with an increase in condo sales. Renters and first time homebuyers are recognizing the good opportunities and purchasing homes. Great prices and low mortgage rates sweeten the deals and are making homes very affordable at this time. It has been our experience this year that increased buyer activity is creating multiple offers and bids over asking price. I am very optimistic that based on the third quarter numbers the housing market is moving in the right direction.
Here is the latest update for the third quarter statistics.
Inventory in Norwalk is showing a decrease in numbers. There are currently 401 single family homes on the market. The number of condos for sale decreased to 176. Single family sales are holding steady from last quarter. The numbers show 151 homes and 65 condos sold in the third quarter compared to 157 homes and 52 condos sold in the second quarter. This is wonderful news for all home sellers. If this trend continues, housing prices may start to stabilize in the near future.
Westportinventory is showing a decrease from 381 to 340 single family homes and a decrease from 14 to10 condos for sale right now. Single family sales are holding steady. There were 106 single family and 11 condos which sold in the second quarter of 2012. The third quarter shows 111 single family and 9 condos sold!!
Wilton single family inventory is down from last quarter from 233 to 201 single family homes. Condo inventory is holding steady, showing only 11 for sale.Wiltonsale numbers are up too! Last quarter sales recorded 69 single family homes. This quarter is showing an increase with 71 homes sold. Condo sales numbers are down from 7 to a total number of 6 this quarter.
The numbers from the third quarter show steady growth.
There were many people who have been waiting on the sidelines until they felt secure enough to take the plunge into the housing marketplace. Combine this with spectacular mortgage rates and you have a winning combination.
If you have been thinking about buying a property, get qualified for a mortgage; hire a professional realtor and go!!!
Betty Bondi
Bondi Realty Group LLC
203-899-9990