Norwalk, CT September 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 August 2025. You will see data comparisons between August and the previous month, the last three months and August 2024.
| Overview | YTD Avg. | August | July | May – Jul. | Aug. 2024 |
|---|---|---|---|---|---|
| New Listings | 459 | 54 | 53 | 72 | 51 |
| Average Sales Price per Square Foot | 452 | 440 | 461 | 449 | 404 |
| Average Days on Market | 50 | 49 | 45 | 45 | 41 |
| Number of Properties for Sale | 833 | 88 | 118 | 133 | 102 |
| Average List Price | $1,075,973 | $1,169,434 | $1,200,028 | $1,191,686 | $799,182 |
| Median List Price | $759,181 | $787,000 | $775,000 | $789,667 | $637,000 |
| Average Sales Price | $969,770 | $875,381 | $1,098,234 | $972,098 | $980,302 |
| Median Sales Price | $778,197 | $690,000 | $815,000 | $813,333 | $763,500 |
| Sales Price / List Price Ratio | 105.07% | 102.8% | 104.85% | 104.56% | 104.59% |
| Number of Properties Sold | 333 | 53 | 54 | 50 | 58 |
| Month’s Supply of Inventory | 2.65 | 1.66 | 2.19 | 2.68 | 1.76 |
| Absorption Rate | 0.41 | 0.6 | 0.46 | 0.38 | 0.57 |
Average & Median Sales Price
The median sales price in August 2025 was $690,000, down -15.34% from $815,000 from the previous month and -9.63% lower than $763,500 from August 2024. The August 2025 median sales price was at its lowest level compared to August 2024 and 2023.
The average sales price in August 2025 was $875,381, down -20.29% from $1,098,234 from the previous month and -10.70% lower than $980,302 from August 2024. The August 2025 average sale price was at its lowest level compared to August 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 August 2025 sales price/list price ratio was 102.8%, down from 104.85% from the previous month and down from 104.59% from August 2024.
Number of Properties Sold & Absorption Rate
The number of properties sold in August 2025 was 53, down -1.85% from 54 from the previous month and -8.62% lower than 58 from August 2024. The August 2025 sales were at its lowest level compared to August 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 August 2025 was 49 days, up 8.89% from 45 days from the previous month and 19.51% higher than 41 days from August 2024. The August 2025 DOM was at its highest level compared with August 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 August 2025 was $440, down -4.56% from $461 from the previous month and 8.91% higher than $404 from August 2024.
Inventory & MSI
The number of properties for sale in August 2025 was 88, down -25.42% from 118 from the previous month and -13.73% lower than 102 from August 2024. The August 2025 inventory was at a mid level compared with August 2024 and 2023.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The August 2025 MSI of 1.66 months was at a mid level compared with August 2024 and 2023.
New Listings
The number of new listings in August 2025 was 54, up 1.89% from 53 from the previous month and 5.88% higher than 51 from August 2024. The August 2025 listings were at its highest level compared to August 2024 and 2023.
Judy Michaelis
Prefer the quick version? Here's a snapshot of the August 2025 Norwalk Market Update:
🏠 Home prices declining significantly – Median sales price dropped to $690K, down 15% from July's $815K, and down 10% from last year's $764K. Market experiencing notable correction across both monthly and annual comparisons.
⏳ Homes taking longer to sell – Average days on market rose to 49 days, up 9% from July's 45 days and up 20% from last year's 41 days. Buyers gaining negotiating power as market cools.
📊 Inventory tightening but still available – 88 homes for sale, down 25% from July's 118, and down 14% from last year's 102. Supply declining but significantly more options than ultra-premium markets.
📉 Sales volume steady but down annually – 53 homes closed in August, nearly flat from July's 54, but down 9% from last year's 58. Transaction activity stabilizing at lower levels.
What Buyers and Sellers Need to Know
✨ Sellers: Market experiencing price correction with both monthly and annual declines. Properties taking 7 weeks to sell on average. Consider competitive pricing strategies as buyer leverage increases in this shifting environment.
🔍 Buyers: Meaningful opportunities emerging with price declines and 88 available properties. You have more time to evaluate options and stronger negotiating position. Market fundamentals suggest continued buyer-favorable conditions ahead.
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