Sales of single-family homes in New Canaan increased 19% in March compared to the year-ago month, new data show.
The rise—from 21 to 25 total sales—was driven mainly by the $2 million to $3 million range, according to data released by the New Canaan Board of Realtors.
Here’s a snapshot of sales activity:
Single-Family Home Sales, March 2021
|March 2021||March 2020|
|$0 to $999,999||4||10|
|$1 milion to $1.99 million||10||6|
|$2 milion to $2.99 million||8||3|
|$3 million to $5 million||2||2|
*Data only includes homes listed for sale on the NCMLS and does not include condos.
The median sales price also rose 57% year-over-year for the month, the data show. Year-to-date, the median sales price is up 33%, from $1,175,000 to $1,567,500, according to the Board’s data.
Far fewer homes are on the market. Inventory has declined by 38% year-over-year, from 160 at the end of last March to 259 at the end of the same month this year, according to the data.
Homes also are selling faster. The number of average days on the market in March was 169 compared to 213 one year earlier, a decline of 21%, according to the Board.
Sales of condominiums also increased in March, from one in 2020 to five last month, the data show. Year-to-date, the median sales price of a condo is up 64%, from $585,000 through the first quarter of 2020 to $960,000 this year.