Sales of single-family homes in New Canaan were up 14% in June from last the same month last year, according to new data.
Most of the increased sales occurred in homes less than $1 million, and the median sales price for June fell by 13% year-over-year, from $1,387,500 to $1,207,500, according to data released by the New Canaan Board of Realtors.
Here’s a table tracking the activity:
Single-Family Home Sales, June 2020
|June '20||June '19|
|$0 to $999,999||11||6|
|$1 milion to $1.99 million||13||16|
|$2 milion to $2.99 million||6||5|
|$3 million to $5 million||2||1|
*Data only includes homes listed for sale on the NCMLS and does not include condos.
Board of Realtors President Melissa Rwambuya said in a statement, “The market continues to be incredibly active with many buyers moving here from New York City.”
The town is reporting increased building permit applications for small home projects, which officials are attributing to homeowners readying their houses for sale amid the strong market.
There are far fewer New Canaan houses on the market than one year ago. Inventory in June was down 33%, from 363 to 242, according to the Board’s data.
Homes spent an average of 183 days on the market in June, up 8% from 170 days one year ago, the data show.
Year-to-date, the median sales price of a single-family home in New Canaan is down 6%, from $1,325,000 to $1,250,000, according to the Board.