The single family market in Norwalk entered 2026 with a slower cadence but steady pricing power. The 75 closings in Q1 represent a 16.7% decline from the 90 sales recorded in Q1 2025, and days on market climbed sharply from 30 to 42 — a 43% increase that signals buyers have slightly more breathing room than last year. New listings also pulled back 19.7%, dropping from 137 to 110, which has kept the supply side constrained at just 1.0 months of supply.
A key nuance worth understanding: while the median sales price rose 9.2% to $824,667, price per square foot actually declined 6.6% to $418. This divergence is compositional — the $1M–$2M bracket saw increased activity (18 closings with a 97% odds-of-selling rate and sale-to-list of 106.4%), which pulled the median higher even as per-foot pricing softened across the board. The sale-to-list price of 103.9% confirms that well-priced homes are still selling above asking, though the premium has compressed from last year's 105.2%. The market is cooling in pace but not in price — a sign of a maturing cycle rather than a downturn.
| Price Range | Closings | $/Sq Ft | Days on Mkt | Sale-to-List | Mo. Supply | YoY Closings |
|---|---|---|---|---|---|---|
| $500K–$1M | 50 | $365 | 44 | 102.8% | 0.8 | ▼ -18.0% |
| $1M–$2M | 18 | $364 | 36 | 106.4% | 0.9 | ▲ +12.5% |
| $2M–$3M | 4 | $1006 | 25 | 112.0% | 1.2 | — 0.0% |
The condo and townhome market is Norwalk's standout story this quarter. Closings surged 38.3% year-over-year to 65 transactions, driving total market volume up 31.2% to over $30 million. This surge is happening despite a 26.9% drop in new listings — from 108 down to 79 — meaning existing inventory is being absorbed at an accelerating rate. Months of supply has tightened dramatically from 1.8 to 1.1.
The under-$500K segment is the engine: closings jumped 55.2% with price per square foot up 5.5% and days on market down to just 32 days. The sale-to-list price of 101.8% in that range confirms demand is outpacing supply. Meanwhile, the $500K–$750K bracket remains active with 14 closings, faster selling times (37 days, down from 42), and strong odds of selling at 95.2%. The median sales price dipped 2.4% to $430,833, but with per-foot pricing essentially flat (down just 0.5%) and volume surging, this is healthy absorption — not price weakness.
| Price Range | Closings | $/Sq Ft | Days on Mkt | Sale-to-List | Mo. Supply | YoY Closings |
|---|---|---|---|---|---|---|
| Under $500K | 45 | $385 | 32 | 101.8% | 1.1 | ▲ +55.2% |
| $500K–$750K | 14 | $429 | 37 | 99.6% | 1.2 | ▼ -12.5% |
| $750K–$1M | 5 | $447 | 65 | 103.2% | 2.9 | N/A |
Wolfpit and East Norwalk lead the market in selling speed, both averaging under 25 days on market in 2025 — a pace that gives buyers very little time to deliberate. East Norwalk commands the highest sale-to-list premium at 105.6%, meaning homes there averaged over 5% above asking price. Spring Hill stands out for sheer probability of sale: a 96.9% odds-of-selling rate with just 2 homes failing to sell out of 34 listings — the most reliable market in Norwalk for sellers.
For buyers seeking relative value, Silvermine offers Norwalk's longest average days on market at 39 and a higher price point (median $995,000) that may create more room for negotiation — though the 104.8% sale-to-list shows well-priced homes still command premiums. Rowayton remains Norwalk's premier neighborhood with a $2,045,000 median, 52 closings, and 104.8% sale-to-list, confirming its continued draw for luxury buyers. Cranbury — Norwalk's highest-volume market with 66 closings — operates at a $822,500 median with competitive 29-day selling times and 104.2% sale-to-list, making it the most active market segment in town.
Whether you're buying or selling in Norwalk, having the right data makes all the difference. Let's talk about what these numbers mean for your specific situation.