Pent up demand creates buyer frenzy!
The housing market has been rejuvenated. The renters and first time homebuyers are currently out searching with us and purchasing their first home. Great prices and low mortgage rates sweeten the deals and are making homes very affordable at this time. It has been our experience over the past few months that increased buyer activity is creating multiple offers and bids over asking price. I am very optimistic that based on the second quarter numbers the housing market is moving in the right direction.
Here is the latest update for the second quarter statistics.
Inventory in Norwalk is showing increased numbers of 446 for single family homes from last quarter. The number of condos decreased to 176 condos on the market right now. Single family sales are way up from last quarter. The numbers show 157 homes and 52 condos sold in the second quarter compared to 76 homes and 41 condos sold in the first quarter. This is wonderful news for all home sellers. If this trend continues and sold numbers climb, housing prices may start to stabilize in the near future.
Westport inventory is showing and increase up from 338 to 381 single family homes and a decrease from 18 to14 condos for sale right now. Single family sales are way up from last quarter. There were 63 single family and 4 condos which sold in the first quarter of 2012. The second quarter shows 106 single family & 11 condos sold!!
Wilton single family inventory is up from last quarter from 206 to 233 single family homes. Condo inventory is holding steady, showing only 13 for sale. Wilton sale numbers are up too! Last quarter sales recorded 29 single family homes. This quarter is showing an increase with 69 homes sold. Condo sales numbers are up from 1 to a total number of 7 this quarter.
All of the numbers from the second quarter show positive improvement.
Buyers should take advantage of this good news and purchase their homes before prices start to climb. Take advantage of the fantastic mortgage rates which are under 4%.
If you have been thinking about buying a property you should get qualified for a mortgage, hire Bondi Realty Group LLC and go!!!
Betty Bondi
Bondi Realty Group LLC
203-899-9990