New Canaan Sees Strong Home Sales in December; Median Sales Prices Up in 2017

Sales of single-family homes in New Canaan increased from 15 to 20 year-over-year in December, according to new data, as strong sales in the $2 million-plus bracket drove up the median price 47 percent, according to new data.

The town saw five sales in the $3 million-plus range alone, compared to just one in December 2016, which is “terrific news for the New Canaan real estate market,” according to Janis Hennessy, president of the New Canaan Board of Realtors.

The median sales price is up from $1.3 million to $1,912,500 in the same period, and year-to-date is up 1 percent, according to the data.

“As we enter into 2018 with lower levels of inventory than a year ago, we are optimistic it will translate to stronger opportunities for new listings in January,” Hennessy said. “We are all looking forward to very healthy real estate year ahead.”

Here’s a look at single-family home sales:

New Canaan: Single Family Home Sales, December 2017*

 Units Sold 
Total2015
December '17December '16
$0 to $999,99943
$1 milion to $1.99 million68
$2 milion to $2.99 million53
$3 million to $5 million41
$5 million+10
Source: New Canaan MLS
*Does not include condos

 

The condominium market saw four units sold in December compared to three one year ago, though the median price for those units dropped from $1,035,000 to $504,500 in the same period, the data shows. The decline is due mainly to two condos sold in December 2016 in the $1 million to $2 million range, compared to none last month.

New Canaan: Condominium Sales, December 2017

 Units Sold 
Total43
December '17December '16
$0 to $499,99921
$500,000 to $999,00020
$1 million to $1.99 million02
$2 million+00
Source: New Canaan MLS

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