Is Norwalk, CT a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Norwalk is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Norwalk has remained a Seller's Market.

Key Takeaway

Norwalk is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Norwalk, CT

How much do homes in Norwalk, CT cost?

Median Sold Price

$614,933

$363/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$45,933(+8.1%)

Key Takeaway

Homes in Norwalk have sold for 8.1% more than they did a year ago.

Summary: The median home sold price in Norwalk was $614,933 in November 2024, up 8.1% from last year, and the median price per square foot was $363.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $267K$288.7K
+8.1%
2 $401.4K$440K
+9.6%
3 $598.7K$644K
+7.6%
4 $732.5K$845K
+15.4%
5+ $875K$985K
+12.6%

Summary: Norwalk housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.1%, 2 bedroom homes increased by 9.6%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 12.6%.

Median Sold Price Compared To Nearby Cities

New Canaan
+12.5%
Wilton
+9.5%
Norwalk
+8.1%
Darien
+5.5%
Westport
+0.8%

Housing Supply in Norwalk, CT

How many homes are available in Norwalk, CT?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
286241-15.7%

Summary: The Norwalk real estate market had 241 homes for sale in November 2024, a 15.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 2620
-23.1%
2 7059
-15.7%
3 6954
-21.7%
4 8673
-15.1%
5+ 3535
0.0%

Summary: The Norwalk housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 23.1%, 2 bedroom homes decreased by 15.7%, 3 bedroom homes decreased by 21.7%, 4 bedroom homes decreased by 15.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
7463-14.9%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

38 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Norwalk, you could pay more than the asking price. 60.3% of homes here sold above asking price last month.

Summary: A total of 63 homes were sold or pending in Norwalk in November 2024, down by 14.9% month-over-month. Of the 63 sold homes, 30% were sold under asking, 10% were sold at asking, and 60% were sold over asking.

Days on Market for Norwalk, CT

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 17 Days Ago

Newest Listings in Norwalk, CT

Nearby Markets to Norwalk, CT

What housing markets are near Norwalk, CT?