Norwalk, CT July 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 June 2025. You will see data comparisons between June and the previous month, the last three months and June 2024.
| Overview | YTD Avg. | June | May | Mar. – May | Jun. 2024 |
|---|---|---|---|---|---|
| New Listings | 347 | 63 | 95 | 67 | 61 |
| Average Sales Price per Square Foot | 453 | 438 | 451 | 463 | 434 |
| Average Days on Market | 50 | 36 | 52 | 50 | 46 |
| Number of Properties for Sale | 573 | 108 | 123 | 104 | 97 |
| Average List Price | $1,060,975 | $1,349,550 | $1,194,085 | $1,088,133 | $924,161 |
| Median List Price | $759,187 | $828,750 | $799,000 | $752,974 | $788,000 |
| Average Sales Price | $966,621 | $961,809 | $871,430 | $938,263 | $1,047,368 |
| Median Sales Price | $793,429 | $877,500 | $787,500 | $792,500 | $745,250 |
| Sales Price / List Price Ratio | 105.52% | 105.43% | 103.59% | 106.33% | 107.9% |
| Number of Properties Sold | 224 | 46 | 48 | 40 | 62 |
| Month’s Supply of Inventory | 2.71 | 2.35 | 2.56 | 2.6 | 1.56 |
| Absorption Rate | 0.39 | 0.43 | 0.39 | 0.38 | 0.64 |
Average & Median Sales Price
The median sales price in June 2025 was $877,500, up 11.43% from $787,500 from the previous month and 17.75% higher than $745,250 from June 2024. The June 2025 median sales price was at its highest level compared to June 2024 and 2023.
The average sales price in June 2025 was $961,809, up 10.37% from $871,430 from the previous month and -8.17% lower than $1,047,368 from June 2024. The June 2025 average sale price was at a mid level compared to June 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 June 2025 sales price/list price ratio was 105.43%, up from 103.59% from the previous month and down from 107.9% from June 2024.
Number of Properties Sold & Absorption Rate
The number of properties sold in June 2025 was 46, down -4.17% from 48 from the previous month and -25.81% lower than 62 from June 2024. The June 2025 sales were at its lowest level compared to June 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 June 2025 was 36 days, down -30.77% from 52 days from the previous month and -21.74% lower than 46 days from June 2024. The June 2025 DOM was at its lowest level compared with June 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 June 2025 was $438, down -2.88% from $451 from the previous month and equal to June 2024.
Inventory & MSI
The number of properties for sale in June 2025 was 108, down -12.20% from 123 from the previous month and 11.34% higher than 97 from June 2024. The June 2025 inventory was at a mid level compared with June 2024 and 2023.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The June 2025 MSI of 2.35 months was at its highest level compared with June 2024 and 2023.
New Listings
The number of new listings in June 2025 was 63, down -33.68% from 95 from the previous month and 3.28% higher than 61 from June 2024. The June 2025 listings were at a mid level compared to June 2024 and 2023.
Judy Michaelis
Prefer the quick version? Here's a snapshot of the June 2025 Norwalk Market Update:
🏠 Home prices surged – Median sales price hit $877,500, up 11% from May's $787,500 and up 18% from last year's $745,250. Highest level in recent years.
⏰ Homes selling fast – Average days on market dropped to 36 days, down 31% from May's 52 days and down 22% from last year's 46 days. Fastest pace in recent memory.
📈 Inventory moderately higher – 108 homes for sale, down 12% from May's 123 but up 11% from last year's 97. More options than 2024 but cooling from spring highs.
📊 Sales volume softened – 46 homes closed, down 4% from May's 48 and down 26% from last year's 62. Solid activity despite monthly decline.
What Buyers and Sellers Need to Know
✨ Sellers: Homes moving in just 36 days with 18% price gains year-over-year. Market strongly favors sellers despite 11% more inventory competition.
🔍 Buyers: Expect fast competition with 11% more inventory than last year but homes selling 22% quicker. Act decisively in this accelerated market.
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