Rowayton Real Estate Market Bucks Regional Trend: Report

Norwalk, CT-Houlihan Lawrence has released its analysis of the Darien, New Canaan and Rowayton real estate market for the second quarter of the year.

Year-over-year pending sales as of June 30 in Darien and New Canaan are down 50 percent an 37 percent respectively, but Rowayton is bucking the trend and pending sales have improved 80 percent, according to the report.

Rowayton is attractive for empty-nesters and downsizers.

In all local markets buyers are looking for brand new or recently-renovated homes. Buyers are also willing to pay a premium for homes close to town, train and schools.

Sellers need to stand out because home inventory on the market is high and presents buyers with a number of options.

While interest rates are still near historic lows, many buyers have no memory of higher rates and don't feel the urgency to act quickly.