A home can feel right before you know what to offer. Start by deciding what you can comfortably spend, then judge the home and its asking price against similar sales. That gives you a reasoned offer rather than a reaction.
For single-family homes and condos, the latest market report puts Norwalk's housing supply, measured in months, at 1.72. Among homes that sold in that reported group, the typical sale price was $677,000. Those homes sold for an average of 104.75% of their asking prices. The typical time on market for homes that sold was 29 days, a measure of marketing time rather than closing time.
The average percentage of asking price that homes sold for is useful context, but it cannot set the maximum price you are comfortable offering. A home's condition, size and features still matter more to your decision than a townwide figure on its own. I would settle the financing and inspection protections you need before deciding how firmly to negotiate on price.
Set the maximum price you are comfortable offering with your lender's payment figures and the money you would need to pay in mind. Review recent sales of similar homes, then look separately at the asking price of the home you want. Decide which conditions in the offer, such as financing or inspection requirements, you need to keep before submitting it.
