Norwalk, Connecticut, a coastal city known for its water views and beaches, remains a buyers market at this time.
This buyers market is brought about by price reductions and sellers receiving as little 92 percent of their asking prices, giving buyers more room at the negotiating tables.
In 2006 CNN Money rated the city as one of the best places to live, with a median home price of $440,000 -- after 12.9 percent home value gains for 2004-2005 -- and a healthy economy.
Notes one local expert, "Sellers, this is not a market to get greedy in. If you get a decent offer ... work with them [buyers]! In many cases, that may be the last offer you get for a long time."
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