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The Latest Economic News
January 2007
The worst of the downturn for the housing market may be over:
-
Sales of existing and new homes were up in October
and November. This was the first time since the downturn began in
the second quarter of 2005 that there were back-to-back increases.
-
Mortgage rates have come down to about 6% from 6.5%
high at the beginning of 2006.
-
Consumer confidence remains strong in spite of
continued concerns over fuel prices and the war in Iraq.
The balance between sellers and buyers is evening out.
This will put stability back in the marketplace.
Here are the results
for the year-end 2006 as compared to 2005:
|
Norwalk Single Family Home Sales |
| |
2005 |
2006 |
|
| # of
Sales |
864 |
751 |
|
| Avg.
Sale Price |
$691,015 |
$727,797 |
+1.8% |
|
Median Price |
$599,000 |
$550,000 |
-.02% |
|
|
|
|
|
|
Norwalk Condominium Sales |
| |
2005 |
2006 |
|
| # of
Sales |
606 |
534 |
|
| Avg.
Sale Price |
$323,367 |
$342,338 |
+5.8% |
|
Median Price |
$319,000 |
$320,000 |
-- |
| |
|
|
|
|
Westport Single Family Home Sales |
| |
2005 |
2006 |
|
| # of
Sales |
488 |
399 |
|
| Avg.
Sale Price |
$1,420,603 |
$1,599,990 |
+12.6% |
|
Median Price |
$1,279,000 |
$1,415,000 |
+10.6% |
| |
|
|
|
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203-855-5537 ext: 176 · E-mail:
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