Real Estate

New Canaan property transfers, plans for tear-downs and new construction, building permit applications, open houses and new homes on the market.

Recent Articles

Developer Seeks To Create New Mixed-Use Building, Townhouses at Forest and Locust

A Westport real estate firm is seeking to create a new, mixed-use building and adjoining row of townhouses at the northwest corner of Forest Street and Locust Avenue—site of the long-vacant former Bank of America building. In an application filed on behalf of Silver Heights Development, officials said they want to put a mixed-use building with 1,500 square feet of ground floor retail uses and two residential units above facing Locust Avenue, and five townhouses fronting Forest Street. Schematics included in the Aug. 24 application show that the mixed-use building would run to the corner of Forest and Locust. The application for the .4-acre lot at 42 Forest St.—from attorney Jacqueline Kaufman, a partner at Stamford-based Carmody, Torrance, Sandak & Hennessey LLP—includes two proposed changes to the New Canaan Zoning Regulations in order to make the project possible as it now is envisioned. Continue Reading →

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Total New Canaan Single-Family Home Sales, Median Price Tick Up in August

The town saw single-family home sales tick up 6 percent year-over-year in August, while the median price of those homes increased by 10 percent, to $1,565,000, according to new data from the New Canaan Board of Realtors. Inventory of single-family homes is down 12 percent year-over-year, with 281 homes on the market at the end of August compared to 319 one year ago, the board’s data says. Joe Scozzafava, president of the New Canaan Board of Realtors, called the figures “encouraging for sellers” and “good indicators,” though he cautioned that “one month’s stats are not a trend.”

“Also, last year August was a slower-than-average month so the increases may just be a return to normalcy,” Scozzafava said. Here’s a snapshot of the single-family home data from last month:

 

Year-to-date, the median sales price of single-family homes is down 9 percent—$1,450,000 this year compared to $1,590,000 at the end of August last year, according to the Board of Realtors. Meanwhile, the year-to-date median sales price of a condominium is up 23 percent year-over-year—$730,000 versus $592,000—though there were 24 percent more condo units on the market at the end of this August (57) compared to last (46), the board’s data says. Continue Reading →

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