[Editor: A sentence in this article referring inventory has been removed while the Board of Realtors reviews its data, and will be replaced as soon as it’s furnished.]
Sales of single-family homes in New Canaan increased 64% year-over-year in April, new data show.
The total number of homes sold jumped to 36 from 22 in the year-ago month, according to data released by the New Canaan Board of Realtors.
The median sales price increased by 63% in April, from $1,250,000 to $2,042,500, according to the data.
Here’s a snapshot of sales activity:
Single-Family Home Sales, April 2021
|April 2021||April 2020|
|$0 to $999,999||0||7|
|$1 milion to $1.99 million||17||11|
|$2 milion to $2.99 million||11||2|
|$3 million to $5 million||6||1|
*Data only includes homes listed for sale on the NCMLS and does not include condos.
Melissa Rwambuya, president of the Board, called the New Canaan real estate market “robust.”
“Inventory is low and the median sale prices of both condos and houses are up substantially year over year,” she said in a statement. “We’re welcoming lots of new families to New Canaan.”
Year-to-date, the median sales price for single-family homes is up 32%, from $1,250,000 to $1,650,000, according to the data. Houses also are selling far more quickly—the average number of days on the market is down 69% year-to-date, from 241 to 74, the data show.
The median sales price of condominiums has risen dramatically in 2021, from $520,000 to $960,000—an 85% rise.