The purpose of this brief overview is to provide you with a snapshot of the current real estate market within the Fairfield County, Connecticut town of Norwalk.  In a word, we are “growing”.  Considering our new shopping mall under construction, the new Marriott Hotel under construction and the vast amount of new Condominium and Apartment buildings being built in both the West Ave and Sono areas we are clearly a town in transition.  But, what about the residential real estate market and is purchasing a home in Norwalk a good investment


Statistics of Performance

Norwalk Median Values

Over the past five years, the Median Value of a Norwalk Single Family home has hovered around the $430,000 -$440,000 range.  However, this has now changed because in 2017 we have now reached a growing pinnacle of value at $463,500.  This represents an annual rate of 5.3% growth year over year from 2016 and a growth of 7.0% from five years ago.  In short, our growth rate over the past year represents 76% of our growth from our five year total.  This is promising and should make our Norwalk homeowners feel cautiously optimistic about future growth.  This kind of growth is glacial in nature and represents a sustained growth over time.

Norwalk List Price Ratio

Still another important rate of performance is the List Price to Sale Price Ratio which tells us how close to the list price did the Buyer actually pay for the property.  The closer to the list price will indicate if we are getting closer to a Seller’s Market or are we moving away to a Buyer’s market.  Norwalk is clearly moving closer to a Seller’s Market because we are now at a 97.6% ratio and continuing to improve.  This is more good news for homeowners.  Historically we were at a 96.8% ratio five years ago and now show a steady incline improvement as represented in the attached graphic.  A real estate performance statistic that goes hand-in-hand with the List Price Ratio is the Average Days on Market.  This statistic measures how long it takes on average to actually sell a single-family property.  Specifically, it measures from the day the property goes on the market to the day that the Buyer and Seller sign a Sales Contract.  In 2017 the length of time in Norwalk averages at 112 days or 3.7 months.  The trend is another long-term improvement since in 2013 we were averaging 161 days.

The final statistic that will be covered is the total Months of Inventory.  If the inventory were to stay dormant and the

Norwalk Months of Inventory

the current rate of property sales was to remain static then this statistic measures how long it would take to absorb the inventory.  If there were 0-5 months of inventory the market would be considered a Sellers Market.  If there were between 5-7 months of inventory then the market would be considered in transition.  If there were over 7 months of inventory then economically the market would be considered a Buyer’s Market.  At the moment the town of Norwalk is at one month of inventory making us a strong Seller’s Market, which again is more good news for homeowners.  Please check out the trend in the attached graphic.


If you are a Buyer looking to purchase a residence in Norwalk, don’t wait.  As shown very clearly the aforementioned statistics taken directly from our local Multiple Listing Service, the longer you wait the higher you will pay, the tougher it will be to negotiate price, terms and conditions and the fewer choices you will have to purchase.  It’s that simple.  For more information concerning Norwalk residential real estate, please reach out to me at 203-858-2241, or visit my website at http://www.fairfieldcountyhomefinder.com.  Platinum Property Realty is a local Norwalk independently owned and operated real estate company and is a proud affiliate of the Homes for Heroes Program.


RnEI Enterprise Comes to Platinum Property RealtyPPR & RnEI

Tom Preston, formerly Sales Agent at Platinum Property Realty is now a Managing Broker heading up the Real Estate Interest Referral Network (RnEI) enterprise within the Platinum Property Realty business umbrella.  RnEI offers a highly consultative customer experience geared towards ensuring the greatest possible return as part of any Real Estate transaction.  Drawing upon over thirty years of hands on experience gathered as a sales professional in both residential and commercial real estate, as an appraiser, a loan originator, and as a tradesman, Tom is uniquely positioned as an advisor to buyers, sellers, and users of residential and commercial space.  Luke Preston, a recent graduate of the Sellinger School of Business at Loyola University Maryland, brings fresh and innovative ideas to the team – strongly complimenting RnEI’s role as a comprehensive solutions provider.

Preston’s Picks Takes Off

At its core RnEI finds great passion in identifying quality real estate product.  A seasoned expert in understanding the forces that influence value, Tom continues to cultivate trust and confidence in RnEI’s clientele.  Whether property positioning a seller’s prized possession in the marketplace, or successfully negotiating on behalf of a buyer, RnEI takes great pride in presenting the best of what the market has to offer.  Be sure to stay current @ Preston’s Picks (http://rneirealestate.com/prestons-picks/) as RnEI’s Referral Network continues to bare new fruit.



Launching Forward

We are very pleased and excited that Tom and Luke are such an integral part of the growing Platinum Property Realty family.  Platinum Property Realty is a local Fairfield County independent Real Estate company focused on long term meaningful client relationships and earning the right to become your family Realtor.  We are also the Affiliate Partner of the Homes for Heroes program.  For more information, please reach out to us at 203-853-2455, or find us at http://www.ctplatinumhomes.com.


Cinderella Stratford Colonial – 1st Time Home Buyer Perfection

Home with a Pulse!

Have you been looking for the right Single Family property in southwest Connecticut and can’t seem to find the right property for your new growing family?  Feeling a little cramped where you are?  Are the right properties you are seeing in the greater Norwalk area just out of your financial reach?  Frustrated?  Suggest you take a close look at a home with a pulse, 224 Bruce Avenue in Stratford.  The quality is there, the interior room is there, the flat level rear yard is there, the school district is there and the location convenience is there.  The family has been slowly chipping away at the updates over the years and it is finally complete.  Here you will find an updated Sun Splashed Eat In Kitchen, updated Baths, Finished Basement garnished with Granite Counter Tops, Stainless Steel Appliances, Crown Moulding, Wall Moulding, Built-Ins, Recessed Lighting, Updated Electrical & Plumbing, Walk In Closet and Central Air Conditioning.  The Rear Yard is large, flat and private that includes a Patio, Grilling Area, Play Area and a Finished Shed.

Oversized Eat In Kitchen

Oozing Curb Appeal

From the moment you see this property from the street you will not be disappointed, because the first look is a series of first looks as you see this home for the first time.  There is thought, care and love in every turn.  The property truly sets the stage for a new family to grow and enjoy without the weekend nagging to-do list, because the to-do list has been done!  If you think the price and the property may be a match for you, don’t take my word for it.  Please make an appointment to see this listing up front and personal.  The property will easily sell itself.

Time is Not Your Friend

224 Bruce Ave – Living Rm

The property will be entering the market within the next week and is expected to move quickly.  The home will be marketed by Platinum Property Realty a local Fairfield County independent brokerage.  For more information or to schedule a private viewing, please reach out to William Karchere at 203-858-2241 or find him at http://www.fairfieldcountyhomefinder.com.  Listed @ $175,000.

Not Yet on MLS – Marquis by the River @ 144 East Avenue

Striking direct Norwalk River views from the 3rd floor inside a luxurious condo awaits the discerning Buyer.  Are you looking for an upscale Norwalk condo directly on the waterfront?  Your search has just ended.  Prepare to be delighted by this two-bedroom, two and a half bath open concept ranch-style living space.  This young gently used cream puff boasts Brazilian cherry-wood flooring, upgraded Stainless Steel appliances, Granite Counter Tops, Kitchen Center Island, Private Master Bath, 9ft Ceilings, Laundry Room and spacious Walk In Closets.  Association Amenities offer attractive life style conveniences such as an Entertainment Room, Fully Outfitted Gym, Elevator, Dog Friendly Grounds, Incremental Secured Storage, stone courtyard with manicured gardens and a winding Boardwalk along the riverfront.  The Boardwalk is part of the Norwalk River Valley Trail thirty-eight mile multi purpose trail project that is connecting Norwalk to Danbury.

Location, Location…

The building and grounds were completed in 2009 and was once the site of the Catherine Gibbs Business College for Women.  Located in Norwalk within one traffic light of I95 offers the convenience of I95 access without the Interstate noise.  Less than a ten minute walk will bring you to the Metro North East Norwalk train station offering civilized access to New York City or east to Boston.  A ten minute drive will bring you to the Sono Cultural Hub consisting of the Norwalk Maritime Center, Norwalk Aquarium, Sheffield Island Lighthouse Ferry, Railroad Museum, Boat Launch, Veterans Park, Restaurants and Theater.  The Norwalk Beachfront is also close by that includes Calf Pasture Beach, Norwalk Cove Marina and the nine acre Taylor Farms fenced in Dog Park.

The Move is Yours to Make

The property will be entering the market within several weeks and is expected to move quickly.  The home will be marketed by Platinum Property Realty a local Fairfield County independent brokerage.  For more information or to schedule a private viewing, please reach out to William Karchere at 203-858-2241 or find him at http://www.fairfieldcountyhomefinder.com.  Listed @ $479,000.

Sweet Price Reduction & Now A One Year Buyer Warranty

Are you looking for a better than move in condition property close enough to work, but still in a rural setting?  Congratulations, your search has ended, and at a reduced price!  118 Nashville Road in Bethel is a Tri-Level Raised Ranch with total living area of 2,534 square feet that is looking for a new owner.  This gently used cream puff sits on .7 private wooded acres within a walk of Overlook Park which is a 38 acre State Park full of trails and views of the surrounding area.  Our new Reduced List Price is $369,900 which now  includes a One Year Buyer Warranty from American Home Shield.

Listing Specs for the Discerning Buyer

This Sun Splashed Living Solution has expanded wooded views from the Updated Kitchen, Dining Room Deck and Lower Level Shaded Patio Access.  Although we are representing four generously sized Bedrooms within our listing, there is an easy fifth Bedroom if needed in the Lower Area by framing a doorway.  Both Full Bathrooms have been updated and are complimented by unblemished hardwood flooring on the Main and Upper Levels.  The Lower Level living area has porcelain tile flooring that offers interior access from the attached Garage and the sliding outside egress glass doors to the patio and expansive rear yard.  The Lower Level has strong In Law possibilities.  The newer Gas Heat & Hot Water System makes for both an efficient and cost effective alternative to help keep monthly expenses to a minimum.  Nashville Road gives you prompt access to both the Bethel Town amenities only five minutes away by car or to the Fairfield County southern region via Route 53.


The home is presently marketed by Platinum Property Realty, a local Fairfield County independent brokerage.  For more detailed information or to schedule a private showing, please reach out to William Karchere at 203-858-2241 or find him at http://www.fairfieldcountyhomefinder.com.

Sneak Preview – New Luxury Condo @ 646 Hope Street, Stamford

646 Hope Street, Stamford

For those of you who have been looking online and can’t find the right young upscale Stamford condo yet, look no more!  Get ready to leap in to the Fall 2017 Stamford Condo Market with 646 Hope Street, Unit 5.  It’s only a short walk to the Springdale NY Metro Train Station, the Springdale Diner and a myriad of shopping and convenience opportunities.  Situated equi-distant between I95 & the Merritt Parkway there is maximum traveling convenience when visiting either the waterfront eateries and marinas along Southfield Avenue, the shopping at Town Center Mall, the golfing at Sterling Farms Park or just picnicking along the river at Mianus River Park.

Property Description @ 646 Hope Street, Stamford

The 2,948 square foot Tri-Level End Unit Luxury Condo is the complete package for the discerning professional, built in 2005.  The refreshed interior boasts rich dark cherry stained hardwood floors against 9 foot ceilings, sun-splashed skylights, organized walk in closets, balconies, separate second floor Laundry Room, Living Room gas fireplace, with granite countertops and stainless steel.  The lower level includes an over-sized two car garage to get you in from the weather with an attached porcelain tiled in-law suite.  The treyed master suite 9 foot plus ceiling is met with crown molding, convenient walk in closet and a glorious lavish bath with jacuzzi.  Two incremental bedrooms make for added growth opportunity.  Two sets of sliding glass doors off the Dining Room lead to a full private patio experience for grilling and taking in the sun.

Make Your Move

The property will be entering the market within several weeks and is expected to move quickly.  The home will be marketed by Platinum Property Realty a local Fairfield County independent brokerage.  For more information or to schedule a private viewing, please reach out to William Karchere at 203-858-2241 or find him at http://www.fairfieldcountyhomefinder.com.  Listed @ $555,000.


Please be aware that the following statistical information for Norwalk, CT is for Single Family properties only and does not include information pertaining to condominiums, multi-family property or rental units.  Single Family property performance has always been the bench mark and has always been the most accurate indicator historically.  This information includes all of Norwalk, CT and that statistical performance can vary between zip codes, neighborhoods (Silvermine, Cranbury, East Norwalk, South Norwalk, Rowayton, West Norwalk, etc.), and even streets.

The source of the 2015 Real Estate Statistical Performance of Norwalk, CT was taken directly from the Greater Fairfield County Multiple Listing Service.

Norwalk Single Family 2015 Real Estate Statistics – Sales Volume & Median Price

Volum & Median

Norwalk – 5 Year Single Family Median Values & Quantity of Transactions

Since 2010 the Sales Volumes have been more up than down.  Overall they have increased from $286M in 2010 to $340M in 2015.  This represents a slow steady increase indicative of an improving and sustained market environment.  The slowest year during this five year timeframe was 2011 when the volume slipped to $250M.

Similar to the Sales Volumes, the Median Values of Single Family Properties have also been on a steady slow incline.  Five years ago in 2010 the Median Value of a Single Family home was $440,000.  As of the most recent full year of data in 2015, the Median Value of a Single Family home is now $445,000.  Year over year we have increased 3.5% in Median Value.  Our glacial velocity of increase though slow is one that we can expect to count on for the next three to four years according to the National Association of Realtors VP of Economics, Dr. Lawrence Yuan.

Norwalk Single Family 2015 Real Estate Statistics – Number of Sales

After a very active year, our Number of Sales for 2015 was a strong 650 Single Family Properties whose titles have passed compared to 507 Single Family Properties whose titles passed in 2010 representing an increase of 28.2%.  During the same timeframe the lowest number of sales was found in 2011 at 440.  This represents continued evidence of an improving market here in Norwalk, CT.

Norwalk Single Family 2015 Statistics – Days on Market & Sales/List Price Ratio

LP%The Days on Market statistic measures the actual time that the Single Family property was Active on the local Multiple Listing Service until the date that the Sales Contract was signed by both Buyer & Seller.  What the Days on Market statistic does not measure is the time from when the Single Family property was Active on the local Multiple Listing Service until the date that the initial offer was received as well as the time from when the Sales Contract was signed until the date of Closing.

The Sales/List Price Ratio measures the difference between what the Norwalk Single Family property sold for versus the list price.  Five years ago in 2010 the Sales/List Price Ratio was 95.9% which dipped sharply the following year of 2011 to 95.2% which represented the lowest ratio in the past ten years.  Since then the Sales/List Price Ratio has continued to improve to the ratio of 2015 which resulted in 97.1%.  This measurement does not take in to account any price decreases during the term of the Listing Agreement.

Norwalk Single Family 2015 Real Estate Statistics – Months of Inventory

The Norwalk Single Family 2015 Months of Inventory is a critical statistic.  To give you a bit of back round on how the measurement is viewed by local practitioners I will offer you the following.  Any inventory measurement from 0-5 months of inventory identifies a Seller’s market; 5-7 months of inventory identifies a market in transition; and anything over 7 months of inventory is considered a Buyer’s market.  Months of Inventory measures the length of time required to absorb the current inventory if the inventory were to remain static.

In an effort to remain consistent if we were to view the Months of Inventory starting in January of 2010 we would see a total of 17 months which although appears high within a strong Buyer’s market, was eclipsed in January of 2008 when the Months of Inventory was off the charts at 40 months.  The most recent month of complete data is for the month of December 2015 which is represented by only 5 months.  Although the market will always be in a state of flux, we have slowly found ourselves within a market that is favoring the Seller.

Norwalk Single Family 2015 Real Estate Statistics – Summary


30 Yr Fixed Rate – 5 Year Profile

The Norwalk Single Family market is steadily becoming more active, though slow in velocity.  Market values are increasing, inventories have continued to drop, sales volumes are rising, and List/Sales Price ratios are improving.  The “icing on the cake” for this market is that although our financial pundits have voiced increased mortgage rates to be within our immediate forecast, the actual result as of late has been a decrease in the rates. There is no good or bad market, just the market.

For more information or to get in touch with a competent professional, please go to www.CTHomeConsultant.com or call/text at 203-858-2241.