Norwalk, CT October 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 September 2025. You will see data comparisons between September and the previous month, the last three months and September 2024.
| Overview | YTD Avg. | September | August | Jun. – Aug. | Sep. 2024 |
|---|---|---|---|---|---|
| New Listings | 531 | 65 | 61 | 60 | 55 |
| Average Sales Price per Square Foot | 449 | 424 | 440 | 446 | 427 |
| Average Days on Market | 49 | 47 | 49 | 44 | 44 |
| Number of Properties for Sale | 976 | 98 | 123 | 132 | 102 |
| Average List Price | $1,064,122 | $1,083,340 | $1,093,060 | $1,158,917 | $881,804 |
| Median List Price | $759,046 | $776,965 | $769,000 | $781,000 | $692,500 |
| Average Sales Price | $970,381 | $975,267 | $875,381 | $973,415 | $889,977 |
| Median Sales Price | $780,619 | $800,000 | $690,000 | $780,833 | $670,000 |
| Sales Price / List Price Ratio | 104.94% | 103.89% | 102.8% | 104.3% | 103.22% |
| Number of Properties Sold | 376 | 43 | 53 | 52 | 46 |
| Month’s Supply of Inventory | 2.7 | 2.28 | 2.32 | 2.56 | 2.22 |
| Absorption Rate | 0.39 | 0.44 | 0.43 | 0.4 | 0.45 |
Average & Median Sales Price
The median sales price in September 2025 was $800,000, up 15.94% from $690,000 from the previous month and 19.40% higher than $670,000 from September 2024. The September 2025 median sales price was at its highest level compared to September 2024 and 2023.
The average sales price in September 2025 was $975,267, up 11.41% from $875,381 from the previous month and 9.58% higher than $889,977 from September 2024. The September 2025 average sale price was at a mid level compared to September 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 September 2025 sales price/list price ratio was 103.89%, up from 102.8% from the previous month and equal to September 2024.
Number of Properties Sold & Absorption Rate
The number of properties sold in September 2025 was 43, down -18.87% from 53 from the previous month and -6.52% lower than 46 from September 2024. The September 2025 sales were at its lowest level compared to September 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 September 2025 was 47 days, down -4.08% from 49 days from the previous month and 6.82% higher than 44 days from September 2024. The September 2025 DOM was at its highest level compared with September 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 September 2025 was $424, down -3.64% from $440 from the previous month and equal to September 2024.
Inventory & MSI
The number of properties for sale in September 2025 was 98, down -20.33% from 123 from the previous month and -3.92% lower than 102 from September 2024. The September 2025 inventory was at its lowest level compared with September 2024 and 2023.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The September 2025 MSI of 2.28 months was at its highest level compared with September 2024 and 2023.
New Listings
The number of new listings in September 2025 was 65, up 6.56% from 61 from the previous month and 18.18% higher than 55 from September 2024. The September 2025 listings were at its highest level compared to September 2024 and 2023.
Judy Michaelis
Prefer the quick version? Here's a snapshot of the September 2025 Norwalk Market Update:
🏠 Home prices rebound strongly – Median sales price jumped to $800K, up 16% from August's $690K, and 19% higher than last year's $670K. Market recovering from August dip with strongest performance in recent comparison periods.
⏳ Homes selling slightly faster – Average days on market fell to 47 days, down 4% from August's 49 days. Marginal improvement in selling speed as fall market begins.
📉 Inventory drops significantly – 98 homes for sale, down 20% from last month's 123, and 4% lower than last year's 102. Supply tightening despite seasonal expectations.
📉 Sales volume declining – 43 homes closed in September, down 19% from August's 53, and 7% lower than last year's 46. Transaction activity slowing as market enters fall season.
What Buyers and Sellers Need to Know
✨ Sellers: Prices rebounded 16% from August with median hitting $800K. Inventory dropped 20% creating supply constraints. Strategic opportunity as prices recover but volume slows.
🔍 Buyers: Fewer competitors with only 43 transactions versus 53 last month. Inventory down to 98 homes but prices up 16% from August. Balance between reduced competition and rising prices requires quick decision-making.
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