A total of 15 single-family homes were sold in town in October, according to data released by the New Canaan Board of Realtors.
While the figure is down five from the year-ago month, the median sales price increased 17% in the same period, from $1,497,500 to $1,750,000, the data show.
Here’s a snapshot of market activity:
Single-Family Home Sales, October 2022
Source: New Canaan MLS
Units Sold
Total 15 20
October 2022 October 2021
$0 to $999,999 1 1
$1 milion to $1.99 million 9 13
$2 milion to $2.99 million 4 3
$3 million to $5 million 1 2
$5 million+ 0 1
*Data only includes homes listed for sale on the NCMLS.
Here are some lower Fairfield County statistics noted by the Board’s president, Anne-Lisa Brown. The data encompasses New Canaan as well as Darien, Norwalk, Fairfield, Easton, Greenwich, New Canaan, Ridgefield. Redding, Stamford, Westport, Wilton and Weston:
- 475 – The number of houses and condos that closed in October, a 26% decrease from October of last year. and a 51% decrease from October of 2020. Pre-Covid, the 475 closings are the most since 2015.
- 1,478 – The number of active houses and condos on the market at the end of October, down 19% year-over-year and 4% from last month.
- 432 – The number of houses pending at the end of October, down 23% from the same time last year but an increase of 17% from October of 2019, the last pre-pandemic year. There were also 135 condos pending on October 31, down 20% from last year.
- 100.7% – The percent of the list price buyers paid on average for house closings in October, the tenth month in a row this ratio was above 100%. For condos, the average closed-to-list price ratio was 100.3%, the eighth month in a row above 100%.
Year-to-date through October, the median sales price on a single-family home in New Canaan is up 11% from 2021, to $1,925,000, the data show. (The median sales price of a condo is up 25%, to $1,050,000.)
There were 58 single-family homes on the market at the end of October, and 32 condos, the data show.
New Canaan homes had spent an average of 92 days on the market in October, compared to 79 days in the year-ago month, the data show.