Three numbers tell you most of what happened in the Norwalk market this spring, and none of them is the one the headlines use.
Thirty-one days to contract
That is the median for the single-family houses we watched between March and June, and it is four days faster than last spring. The spread matters more than the median: well-priced houses under $800,000 went in under two weeks, and everything priced above what the recent sales supported sat for two months and then cut.
Ninety-eight percent of asking
The average closed sale came in just under the list price, which after two years of bidding above it reads like a return to normal rather than a decline. Houses that had already cut once closed nearer to ninety-four percent. The first price is still the one that decides the outcome.
Two hundred and six active listings
Inventory is up about a fifth on last spring and still low by any year before 2021. For a seller that means less company than usual and buyers who have been looking for months. For a buyer it means there is finally a second house to compare the first one against, which is the thing that was missing.
If you are weighing a spring listing against waiting for the autumn, the Saturday open houses in Rowayton and West Norwalk are still full. Call us and we will tell you what your street has done this year, not what the county has.