Wilton CT Real Estate Market Report Spring 2023
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*All market data can be found at the bottom of this page
Are you interested in keeping up to date with the latest developments in the Wilton real estate market? We’ll explore what's happening to keep you ahead of the curve. Get ready to dive into the highly anticipated first quarter report of 2023, and gain valuable insights from my boots on the ground experience as the spring market unfolds.
If you are new to my website, my name is Charlie Vinci and I am a Wilton Realtor. The graphs in the "Wilton CT Real Estate Market" section are updated on the first of every month. While you are here, you can create a custom market report below to get updated on the exact segment of the market that is most important to you.
You'd rather watch than read? Below is the latest market report video for Wilton.
Wilton Closed Sales
Let's start with closed sales for the first quarter in Wilton and we were down to 31. Compared to last year we had 49 sales, and the year before we had 69. Take a look at the five year trend, paying particular attention to the years of 2018 and 2020, which was our pre-COVID Market, where we had between 38 and 44 sales. So, 31 is still low even compared to our pre-COVID market, but that's not the full story.
You can analyze what has sold near you by using our Sold Property Search and Interactive map.
Quick Tip: Zoom in on your home for nearby sales.
Wilton Homes for Sale
This is the number of homes for sale in Wilton and we were down to just 41 at the end of the first quarter of 2023. It's hard to sell around 40 homes when you only have 41 homes left at the end of the month.
Take a look at last year when we had 43 homes, and the year before we had 99 homes. It's much easier to sell a large number of homes when you have plenty of inventory.
If you'd like to see what is available in Wilton right now, you can click here to perform a Wilton Home Search.
Wilton Median Days on Market
Here's the median number of days it took a seller to sell in Wilton in the first quarter of 2023. We were down to 48 days. Last year it was 52 days, and the year before it took 63 days. Clearly buyers need to be better prepared and move much quicker in this market.
Wilton Median Percentage of List Price
This is the median percentage of list price that sellers earned, and it was up to 100.5% in the first quarter. Remember this is median price, so half the homes sold for more, and these were likely the homes that sold in the first weekend and to multiple offers. Take a look at the five year trend to see what was the norm before COVID.
Wilton Median Sales Price
This is the median sales price in Wilton and it actually dropped a bit to $915,000 in the first quarter. Last year it was $937,000.
The interesting thing to note is that the drop in median price is relatively modest compared to the other higher priced Gold Coast towns like Westport, New Canaan and Darien.
If reading this has you wondering what your property is worth, you can get an estimate by using our Home Valuation tool.
Wilton Months of Supply
This is the months of supply in Wilton, and it’s up a bit to 1.8 months. Last year we had 1.3 months, and the year before we had 2.6 months. Take a look at the five year trend to see how far we have come. It's nice to see that the supply was up a bit this quarter, but it's still quite low.
Wilton Pending Sales
Here's the number of pending sales, which were down to 48 in the first quarter of 2023. Last year, we had 56 and the year before we had 84 pending. Take a look at the five year trend paying attention to the years of 2018 to 2020, and you will see that we typically had between 39 and 50 sales. So 48 is actually pretty good compared to our pre-COVID market. Especially considering how low current levels of inventory are.
Conclusion
Clearly, looking back at the Q1 stats, the median price in Wilton has fallen a bit. The challenge is that the spring market has begun, and the buyers have shown up to little inventory. Last month I said to get ready for an aggressive market with multiple offers on all good homes, and I am afraid I was right. In fact negotiating over the last month has felt like it did in the spring of 2022, when the market was white hot.
We are currently working hard to get our clients a space on the showing schedule for many homes and anything decent has sold to multiple offers, and often hundreds of thousands over asking. You will see this reflected in the coming months data. Buyers will need to be aggressive to get a home this spring, or wait until the Summer when things usually cool down a bit.
If you are thinking of buying or selling, and don't currently have an agent, don't hesitate to call me. I would be happy to talk about your sale or purchase. You can find my contact information below.
I look forward to hearing from you!
Best,
203.952.7752
Wilton CT Real Estate Market
Each data point represents the past 3 months of data, so you can easily examine the macro level trends of the Wilton CT Real Estate Market.
*All Data comes directly from the Realtor's database, the SmartMLS, and is updated on the first of each month.
Quick Tip: Maps are interactive. Touch or Hover to use.