Sales of single-family homes in New Canaan increased 38% in May, from 21 to 29 year-over-year, according to new data.
The median sales price for May increased by 35%, from $1,495,000 to $2,012,000, according to data released by New Canaan Board of Realtors.
Here’s a snapshot of sales activity:
Single-Family Home Sales, May 2021
| Units Sold | ||
|---|---|---|
| Total | 29 | 21 |
| May 2021 | May 2020 | |
| $0 to $999,999 | 3 | 3 |
| $1 milion to $1.99 million | 10 | 12 |
| $2 milion to $2.99 million | 11 | 6 |
| $3 million to $5 million | 5 | 0 |
| $5 million+ | 0 | 0 |
*Data only includes homes listed for sale on the NCMLS and does not include condos.
Through the first five months of 2021, the median sales price of single-family homes is up 40% over last year, from $1,250,000 to $1,750,000, according to the data. (The median sales price of condominiums is up 68% year-over-year, from $585,000 to $985,000, the data show.)
At month’s end, 92 single-family homes were on the market in New Canaan, according to the data.
Single-family homes had spent more time on the market in May of this year than in 2020, at 163 days compared to 133 one year ago, an increase of 23%. Yet through the first five month so the year, the average days on market is down 53%, dropping from 220 one year ago to 104 in 2021, according to the Board’s data.
In May, a total of seven condominiums were sold in New Canaan, compared to just two in the year-ago month, the data show.