Norwalk, CT August 2025 Real Estate Market Report: Insights & Forecast
Assembled by: Judy Michaelis, 203-247-5000
Market Trends Report
Overview
The overview below shows real estate activity from January 2025 to July 2025. You will see data comparisons between July and the previous month, the last three months and July 2024.
| Overview | YTD Avg. | July | June | Apr. – Jun. | Jul. 2024 |
|---|---|---|---|---|---|
| New Listings | 399 | 47 | 67 | 71 | 58 |
| Average Sales Price per Square Foot | 454 | 462 | 436 | 456 | 418 |
| Average Days on Market | 50 | 46 | 37 | 47 | 44 |
| Number of Properties for Sale | 710 | 92 | 140 | 124 | 103 |
| Average List Price | $1,087,978 | $1,326,560 | $1,242,257 | $1,161,675 | $856,864 |
| Median List Price | $764,480 | $825,000 | $799,000 | $773,000 | $685,000 |
| Average Sales Price | $985,338 | $1,112,823 | $946,630 | $931,049 | $1,024,223 |
| Median Sales Price | $790,796 | $815,000 | $837,500 | $816,667 | $850,000 |
| Sales Price / List Price Ratio | 105.42% | 105% | 105.25% | 105.81% | 106.68% |
| Number of Properties Sold | 278 | 52 | 48 | 45 | 39 |
| Month’s Supply of Inventory | 2.7 | 1.77 | 2.92 | 2.74 | 2.64 |
| Absorption Rate | 0.4 | 0.57 | 0.34 | 0.37 | 0.38 |
Average & Median Sales Price
The median sales price in July 2025 was $815,000, down -2.69% from $837,500 from the previous month and -4.12% lower than $850,000 from July 2024. The July 2025 median sales price was at a mid level compared to July 2024 and 2023.
The average sales price in July 2025 was $1,112,823, up 17.56% from $946,630 from the previous month and 8.65% higher than $1,024,223 from July 2024. The July 2025 average sale price was at its highest level compared to July 2024 and 2023.
Sales Price / List Price Ratio
The sales price/list price ratio is the average sale price divided by the average list price for sold properties expressed as a percentage. If it is above 100%, homes are selling for more than the list price. If it is less than 100%, homes are selling for less than the list price.
The July 2025 sales price/list price ratio was 105%, equal to the previous month and down from 106.68% from July 2024.
Number of Properties Sold & Absorption Rate
The number of properties sold in July 2025 was 52, up 8.33% from 48 from the previous month and 33.33% higher than 39 from July 2024. The July 2025 sales were at a mid level compared to July 2024 and 2023.
Absorption rate is the avg number of sales per month divided by the total number of available properties.
Average Days on Market
The average days on market (DOM) is the number of days a property is on the market before it sells. An upward trend in DOM tends to indicate a move towards a buyer’s market, a downward trend tends to indicate a move towards seller’s market.
The DOM for July 2025 was 46 days, up 24.32% from 37 days from the previous month and 4.55% higher than 44 days from July 2024. The July 2025 DOM was at its highest level compared with July 2024 and 2023.
Average Sales Price per Square Foot
The average sales price per square foot is a more normalized indicator for the direction of property value. The sales price per square foot in July 2025 was $462, up 5.96% from $436 from the previous month and 10.53% higher than $418 from July 2024.
Inventory & MSI
The number of properties for sale in July 2025 was 92, down -34.29% from 140 from the previous month and -10.68% lower than 103 from July 2024. The July 2025 inventory was at its lowest level compared with July 2024 and 2023.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The July 2025 MSI of 1.77 months was at its lowest level compared with July 2024 and 2023.
New Listings
The number of new listings in July 2025 was 47, down -29.85% from 67 from the previous month and -18.97% lower than 58 from July 2024. The July 2025 listings were at its lowest level compared to July 2024 and 2023.
Judy Michaelis
Prefer the quick version? Here's a snapshot of the July 2025 Norwalk Market Update:
💰 Prices mixed – Median sales price dipped slightly to $815,000, down 2.7% from June and down 4.1% year-over-year. But the average sales price surged to $1,112,823, the highest in years—up 17.6% from June.
⚡ Homes taking longer to sell – Average days on market rose to 46 days, up from 37 in June and higher than last year’s 44. A slowdown in pace after a hot spring.
🏡 Inventory tightening – Just 92 homes for sale, down 34% from June and down 11% from last year. Lowest level in over a year, indicating reduced options for buyers.
🔄 Sales volume rebounding – 52 homes sold, up 8% from June and a strong 33% jump over last July. A promising sign of buyer engagement despite limited inventory.
What Buyers and Sellers Need to Know
📣 Sellers: Inventory is tight and buyers are still stepping up. While median prices eased slightly, the record-high average and strong sale-to-list ratio (105%) say one thing: well-priced homes are still commanding top dollar.
👀 Buyers: Expect competition. Fewer homes on the market means fewer choices—but if you're decisive and strategic, you're still in the game. Price per square foot is rising, so value matters more than ever.
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