Sales of single-family homes in New Canaan declined by more than 50 percent year-over-year in September, according to new data.
The month saw a 56 percent drop to 11 homes sold versus 25 in 2017, and the median price also fell 16 percent, from $1.6 million to $1,350,000, according to the New Canaan Board of Realtors.
“There is a lot of uncertainty in the market,” said Janis Hennessy, president of the New Canaan Board of Realtors and MLS. “We have seen peaks and valleys throughout the year, just like other Fairfield County towns.”
In September, no New Canaan homes sold for up to $1 million, whereas seven sold in that range one year ago.
Here’s a look at the numbers:
Copy of New Canaan: Single Family Home Sales, September 2018*
|September '18||September '17|
|$0 to $999,999||0||7|
|$1 milion to $1.99 million||9||11|
|$2 milion to $2.99 million||2||4|
|$3 million to $5 million||0||2|
*Does not include condos
In a small sample size, sales of condominiums also saw a year-over-year decline, from three in September 2017 to just one last month, according to the data.
Year-to-date, the median sale price of single-family homes in New Canaan has declined from $1.5 million to $1.4 million, according to the Board of Realtors. Inventory was about the same in September this year, with 317 single-family homes on the market compared to 312 in 2017.