Local Real Estate News forecast for 2015
Happy New Year! 2014 was a very good year for our local real estate market.
We are looking at another good year ahead if our economy stays on track! I expect more first time home buyers will be searching for their new home. Many sellers who have been waiting for values to increase may be ready to put their house on the market very soon. This will create a nice balance which will translate into a good market for all.
Low mortgage rates are currently in effect for 2015, with many small banks offering fantastic loan programs. Smart buyers should take advantage of this to purchase their new homes.
Here are the latest statistics from Consolidated Multiple Listing system.
As we enter 2015, Norwalk’s housing market activity is holding steady. The inventory is similar compared to last year at this time. We currently have 248 single family homes and 118 condos active in the market. As always, the nicest listings that are priced correctly sell the fastest and for the highest price.
Last quarter numbers (October to December) show 149 single family and 84 condos sold. This is wonderful news and hopefully it will continue.
Westport’s active housing inventory is also holding steady. Currently, active listings are 232 single family and 5 Condos for sale. Westport’s last quarter numbers are showing 97 single family and 8 condos sold.
Wilton single family and condo sales are similar numbers last year at this time. The current active inventory is holding tight at 99 single family and 9 condos. Last quarter numbers are showing 49 Single family homes and 3 condos sold.
This is great news for home sellers & buyers. Sales are moving in the right direction and the spring market should be very strong this year. Prices are holding steady with no huge increases on the horizon. We think the winter market will be strong this year if the weather cooperates as there are still a few deals to be had. Contact us today for all of your real estate needs! We are Norwalk’s number 1 real estate company!!
Betty Bondi
Bondi Realty Group LLC
203-899-9990