New Canaan Home Sales Double in January

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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 
Total2814
January 2021January 2020
$0 to $999,99942
$1 milion to $1.99 million159
$2 milion to $2.99 million41
$3 million to $5 million52
$5 million+00
Source: New Canaan MLS
*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.

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