Norwalk, CT November 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 October 2025. You will see data comparisons between October and the previous month, the last three months and October 2024.
| Overview | YTD Avg. | October | September | Jul. – Sep. | Oct. 2024 |
|---|---|---|---|---|---|
| New Listings | 584 | 47 | 71 | 62 | 45 |
| Average Sales Price per Square Foot | 451 | 467 | 426 | 442 | 394 |
| Average Days on Market | 49 | 52 | 46 | 47 | 41 |
| Number of Properties for Sale | 1109 | 94 | 123 | 127 | 98 |
| Average List Price | $1,040,314 | $952,880 | $1,011,674 | $1,081,428 | $868,584 |
| Median List Price | $748,675 | $739,250 | $749,000 | $754,667 | $699,950 |
| Average Sales Price | $985,970 | $1,136,948 | $964,589 | $979,401 | $835,087 |
| Median Sales Price | $782,058 | $795,000 | $800,000 | $768,333 | $700,000 |
| Sales Price / List Price Ratio | 104.76% | 103.15% | 103.91% | 103.85% | 103.79% |
| Number of Properties Sold | 427 | 49 | 45 | 51 | 44 |
| Month’s Supply of Inventory | 2.7 | 1.92 | 2.73 | 2.51 | 2.23 |
| Absorption Rate | 0.39 | 0.52 | 0.37 | 0.4 | 0.45 |
Average & Median Sales Price
The median sales price in October 2025 was $795,000, equal to the previous month and 13.57% higher than $700,000 from October 2024. The October 2025 median sales price was at its highest level compared to October 2024 and 2023. The average sales price in October 2025 was $1,136,948, up 17.87% from $964,589 from the previous month and 36.15% higher than $835,087 from October 2024. The October 2025 average sale price was at its highest level compared to October 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 October 2025 sales price/list price ratio was 103.15%, equal to the previous month and equal to October 2024.
Number of Properties Sold & Absorption Rate
The number of properties sold in October 2025 was 49, up 8.89% from 45 from the previous month and 11.36% higher than 44 from October 2024. The October 2025 sales were at its highest level compared to October 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 October 2025 was 52 days, up 13.04% from 46 days from the previous month and 26.83% higher than 41 days from October 2024. The October 2025 DOM was at its highest level compared with October 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 October 2025 was $467, up 9.62% from $426 from the previous month and 18.53% higher than $394 from October 2024.
Inventory & MSI
The number of properties for sale in October 2025 was 94, down -23.58% from 123 from the previous month and -4.08% lower than 98 from October 2024. The October 2025 inventory was at its lowest level compared with October 2024 and 2023. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The October 2025 MSI of 1.92 months was at its lowest level compared with October 2024 and 2023.
New Listings
The number of new listings in October 2025 was 47, down -33.80% from 71 from the previous month and 4.44% higher than 45 from October 2024. The October 2025 listings were at a mid level compared to October 2024 and 2023.
Judy Michaelis
Prefer the quick version? Here's a snapshot of the September 2025 Norwalk Market Update:
🏠 Home prices showing strong appreciation – Median sales price is $795K, flat with September's $800K, but up 13.57% from last year's $700K. Average sales price surged to $1.14M, up 17.87% from September and 36.15% from last year.
⏳ Homes taking longer to sell – Average days on market rose to 52 days, up 13.04% from September's 46 days, and up 26.83% from last year's 41-day pace. Market velocity moderating from previous year's faster pace.
📉 Inventory tightening dramatically – 94 homes for sale, down 23.58% from last month's 123, and down 4.08% from last year's 98. Lowest October inventory in three years with ultra-low 1.92 months of supply.
📈 Sales activity improving – 49 homes closed in October, up 8.89% from September's 45, and up 11.36% from last year's 44. Highest October sales volume in three years.
What Buyers and Sellers Need to Know
✨ Sellers: Strong seller's market with ultra-low 1.92 months of supply and homes selling at 103.15% of list price. Price per square foot up 18.53% year-over-year shows sustained value growth.
🔍 Buyers: Competitive market with limited inventory requires quick decision-making. However, homes taking 52 days to sell versus last year's 41 days provides slightly more negotiating time compared to 2024's faster pace.
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