Home Sales Up in February As Median Sales Price Declines 

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'For Sale' signs in New Canaan. Credit: Michael Dinan

Sales of single-family homes in New Canaan increased 50 percent in February compared to the year-ago month, though the median sales price declined 21 percent in the same time period, according to new data.

Driven mainly by sales of houses in the $1 million to $2 million range, the town saw a total of nine homes sold in February, compared to six in the same month last year, according to information from the New Canaan Board of Realtors. 

Here’s a snapshot of the sales data:

New Canaan: Single-Family Home Sales, February 2019*

 Units Sold 
February '19February '18
$0 to $999,99932
$1 milion to $1.99 million63
$2 milion to $2.99 million01
$3 million to $5 million00
$5 million+00
Source: New Canaan MLS
*Does not include condos


Year-over-year, the median sales price of a single-family home declined from $1,417,500 in February 2018 to $1,125,000 last month, the data showed.

Year-to-date, the median sales price has declined 12 percent, according to the data.

On average, homes are spending 12 percent less time on the market—163 days in February compared to 186 in the year-ago month.

Inventory is down 4 percent year-over-year, from 270 homes one year ago to 259 last month.

New Canaan saw two condominiums sold last month, compared to six in February 2018, according to the data. 

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