Sales of single-family homes in New Canaan doubled in January, new data show.
Driven mostly by sales in the $1 million to $2 million range, sales increased from 14 to 28 for the month on a year-over-year basis, according to data complied by the New Canaan Board of Realtors.
The median home price also increased 20% year-over-year, from $1,213,500 to $1,450,700, according to the data.
Here’s a snapshot of sales activity:
Single-Family Home Sales, January 2021
| Units Sold | ||
|---|---|---|
| Total | 28 | 14 |
| January 2021 | January 2020 | |
| $0 to $999,999 | 4 | 2 |
| $1 milion to $1.99 million | 15 | 9 |
| $2 milion to $2.99 million | 4 | 1 |
| $3 million to $5 million | 5 | 2 |
| $5 million+ | 0 | 0 |
*Data only includes homes listed for sale on the NCMLS and does not include condos.
Melissa Rwambuya, president of the New Canaan Board of Realtors and MLS, said in a statement, “What a difference a year makes. Single family home sales in New Canaan are up 100% over last January, condos 40% and median prices have also risen in both categories. More inventory is all the robust New Canaan real estate market needs.”
There were 33% fewer homes on the market at the end of January the the year-ago period—inventory was down from 188 to 126, the data show.
Single-family homes are spending far fewer days on the market, down 34% year-over-year, from 236 last January to 155 this year, according to the data.
Condominium sales increased from five to seven in January, and the median sales price is up 64%, from $585,000 to $960,000.