New Canaan Single-Family Home Sales Up 18 Percent in July

The town saw 32 single-family homes sold in July, a 23 percent over 2017, according to new data from the New Canaan Board of Realtors.

The median sales price also increased year-over-year for the month, from $1,320,000 to $1,559,500—an 18 percent rise, according to the Board.

Here’s a breakdown of the month:

New Canaan: Single Family Home Sales, July 2018*

 Units Sold 
Total3226
July '18July '17
$0 to $999,99975
$1 milion to $1.99 million1313
$2 milion to $2.99 million107
$3 million to $5 million11
$5 million+10
Source: New Canaan MLS
*Does not include condos

In the condominium market, while the median sales price fell 15 percent year-over-year—from $1,032,500 to $881,000—the total number of sales held steady, at four, according to the data.

The median sales price of a single-family home in New Canaan ticked up to $1,450,000 year-to-date.

Year-over-year, there were about the same number of homes on the market in July—330 this year versus 332 in 2017. Within that figure, however, the types of homes on the market have seen a shift. Specifically, more homes in the $1 million to $2 million range are on the market this year, while fewer homes in the $5 million-plus range are on the market. 

Here’s a table breaking down inventory:

Inventory, Single-Family Homes

RangeJuly 2018July 2017
Total330332
Up to $1 million5353
$1 million to $2 million155136
$2 million to $3 million6977
$3 million to $5 million3540
$5 million and over1826
Source: New Canaan Board of Realtors and New Canaan MLS

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