With just 78 single-family homes in New Canaan listed on the market at the end of December, the overall number of homes sold in the month declined to 16 from 41 one year ago, according to new data.
The median sales price for December stood at $1,557,000, according to data released by the New Canaan Board of Realtors. The figure is down 3% from the year-ago month, though for all of 2021 the median sales price increased 22%, from $1,442,500 to $1,759,000, the data show.
“Given the lack of inventory, it is no surprise that prices have increased to the extent that they did at the end of 2021,” Anne-Lise Brown, president of the New Canaan Board of Realtors and New Canaan MLS, said in a statement. “However, I would caution that as more inventory comes on the market in 2022, these numbers may not be sustainable. What I do hope is that local families can take advantage of the shorter ‘days on market’ to make the most of the opportunities for their families. As soon as people are willing to list their homes the market will start moving again.”
Here’s a look at December sales data:
Single-Family Home Sales, December 2021
| Units Sold | ||
|---|---|---|
| Total | 16 | 41 |
| December 2021 | December 2020 | |
| $0 to $999,999 | 2 | 4 |
| $1 milion to $1.99 million | 10 | 26 |
| $2 milion to $2.99 million | 2 | 7 |
| $3 million to $5 million | 2 | 4 |
| $5 million+ | 0 | 0 |
*Data only includes homes listed for sale on the NCMLS.
Single-family homes spent just 106 total days on the market in December, down 24% (140 days) from the year-ago month, according to the data.
December also saw seven condominiums sold, up 17% from the year-ago month. The median sales price for a condo in December stood at $1,250,000—up 59% from the year-ago month ($784,188). Year-to-date, the median sales price of a condo in New Canaan is up 31%, from $737,938 to $967,500, the data show.