Norwalk, CT March 2026 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 2026 to February 2026. You will see data comparisons between February and the previous month, the last three months and February 2025.
| Overview | YTD Avg. | February | January | Nov. – Jan. | Feb. 2025 |
|---|---|---|---|---|---|
| New Listings | 57 | 27 | 30 | 26 | 45 |
| Average Sales Price per Square Foot | 442 | 456 | 428 | 438 | 481 |
| Average Days on Market | 55 | 57 | 52 | 51 | 60 |
| Number of Properties for Sale | 108 | 50 | 58 | 75 | 81 |
| Average List Price | $948,282 | $975,356 | $921,207 | $873,283 | $952,457 |
| Median List Price | $633,750 | $605,000 | $662,500 | $693,333 | $769,000 |
| Average Sales Price | $1,052,969 | $1,153,453 | $952,485 | $1,001,905 | $1,088,220 |
| Median Sales Price | $819,500 | $810,000 | $829,000 | $772,167 | $780,575 |
| Sales Price / List Price Ratio | 102.78% | 100.93% | 104.63% | 102.68% | 106.73% |
| Number of Properties Sold | 52 | 19 | 33 | 43 | 19 |
| Month’s Supply of Inventory | 2.2 | 2.63 | 1.76 | 1.75 | 4.26 |
| Absorption Rate | 0.48 | 0.38 | 0.57 | 0.59 | 0.23 |
Average & Median Sales Price
The median sales price in February 2026 was $810,000, down -2.29% from $829,000 from the previous month and 3.77% higher than $780,575 from February 2025. The February 2026 median sales price was at its highest level compared to February 2025 and 2024. The average sales price in February 2026 was $1,153,453, up 21.10% from $952,485 from the previous month and 5.99% higher than $1,088,220 from February 2025. The February 2026 average sale price was at its highest level compared to February 2025 and 2024.
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 February 2026 sales price/list price ratio was 100.93%, down from 104.63% from the previous month and down from 106.73% from February 2025.
Number of Properties Sold & Absorption Rate
The number of properties sold in February 2026 was 19, down -42.42% from 33 from the previous month and equal to February 2025. The February 2026 sales were at its lowest level compared to February 2025 and 2024. 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 February 2026 was 57 days, up 9.62% from 52 days from the previous month and -5.00% lower than 60 days from February 2025. The February 2026 DOM was at its lowest level compared with February 2025 and 2024.
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 February 2026 was $456, up 6.54% from $428 from the previous month and -5.20% lower than $481 from February 2025.
Inventory & MSI
The number of properties for sale in February 2026 was 50, down -13.79% from 58 from the previous month and -38.27% lower than 81 from February 2025. The February 2026 inventory was at its lowest level compared with February 2025 and 2024. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The February 2026 MSI of 2.63 months was at its lowest level compared with February 2025 and 2024.
New Listings
The number of new listings in February 2026 was 27, down -10.0% from 30 from the previous month and -40.0% lower than 45 from February 2025. The February 2026 listings were at its lowest level compared to February 2025 and 2024.
Judy Michaelis
Prefer the quick version? Here’s a snapshot of the February 2026 Norwalk Market Update:
🏠 Strong pricing momentum — Median sales price at $810K, down 2% monthly and up 4% year-over-year, at highest February level in 3 years. Average sales price at $1,153,453, up 21% monthly and up 6% yearly, also at 3-year February high. Price/sq ft at $456, up 7% monthly but down 5% yearly.
⏳ Market pace improving — Average days on market at 57 days, up 10% from January’s 52 and down 5% from last year’s 60 days. Lowest February DOM in 3 years.
📈 Severe inventory shortage — Only 50 homes for sale, down 14% from January and down 38% from last year. Lowest February inventory in 3 years. Months supply at 2.63, also at 3-year February low.
📉 Volume flat year-over-year as listings decline — 19 homes closed, down 42% from January’s 33 and equal to last February’s 19. New listings at 27, down 10% monthly and down 40% YoY to lowest February level in 3 years.
What Buyers and Sellers Need to Know
✨ Sellers: Strong seller’s market with 3-year-low 2.63-month supply, homes selling above asking at 100.93%, and both price metrics at 3-year February highs. Ideal conditions despite the sale-to-list ratio cooling from last year’s 106.73%.
🔍 Buyers: Inventory crisis (-38% YoY) at a 3-year low creates stiff competition. Sale-to-list ratio cooling to 100.93% and price/sqft down 5% YoY to $456 offer slightly more negotiating room than prior years.
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