Norwalk is still in a Buyer’s Market but the indicators over the past six months were pointing towards a more balanced market. Over the past three months the indicators are moving back towards a stronger Buyer's Market. The ratio of List to Sales Price is good at 95%. However, prices have declined over the past three months, so signals of a recovery are mixed. There are fewer sales at the high end of the market.
Over the past 12 months 9 homes over $2 million have sold, but in the past three months ony one home over $2 million has sold. The lowest sale over the past 12 months was $85,000 and the highest sale was $4.6 million. The median sale price was $415,000.
What homes are most in demand by buyers in Norwalk? The sweet spot in the market is for 3 bedroom homes with a list price of $425,000-450,000. They tend to be on the market 116 days and sell for 95% of list price.