New Canaan Home Sales: Median Sales Price Up 48% in August


The median sales price of a single-family New Canaan home increased by 34% year-over-year in August, to $2.2 million from $1,642,000 in the year-ago month, as total homes sold declined by 35%, new data show.

Thirty-one homes were sold in August, down from 48 one year ago, though six of those recently sold homes were in the $3 million to $5 million (compared to three in August 2021) and one was in the $5 million-plus range (zero), according to data released by the New Canaan Board of Realtors. 

Here’s a snapshot of market activity:

Single-Family Home Sales, August 2022

 Units Sold 
August 2022August 2021
$0 to $999,99912
$1 milion to $1.99 million1230
$2 milion to $2.99 million1113
$3 million to $5 million63
$5 million+10
Source: New Canaan MLS
*Data only includes homes listed for sale on the NCMLS.


Year-to-date, the median sales price is up 13% in 2022, to $2 million compared to $1,767,000 through the first eight months of 2021, the data show. Inventory at the end of August stood at 54 total single-family homes, and they’re spending just 76 days on the market, on average, compared to 114 one year ago, the data show.

Sales of condominiums declined from nine in August 2021 to six last month, a 33% decline, while the median sales price of a condo increased by 48% in the month, to $987,500 from $667,000, the data show. Year-to-date, the median sales price of a condo is up 14% (from $880,000 to $1,005,000, the data show).

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