Sales of single-family homes in New Canaan declined 37 percent year-over-year in October, according to new MLS data.
The drop, from 19 in 2017 to 12 this this year, largely reflects fewer home sales in the range of $2 million or less, according to data released by the New Canaan Board of Realtors.
Here’s a snapshot of activity:
New Canaan: Single Family Home Sales, October 2018*
|October '18||October '17|
|$0 to $999,999||3||5|
|$1 milion to $1.99 million||5||10|
|$2 milion to $2.99 million||4||2|
|$3 million to $5 million||0||2|
*Does not include condos
While the number of homes sold declined, the median price of single-family homes sold in October increased 31 percent, according to the Board, from $1,325,000 to $1,735,000.
Year-to-date, the median sales price for single-family homes in New Canaan is down 2 percent, from $1,487,500 in 2017 to $1,475,00 this year.
Homes for sale in New Canaan spent about 37 percent more time on the market in October this year compared to last, up from 211 to 290 days, according to the Board’s data. Inventory is up slightly, with 323 single-family homes on the market in October compared to 311 one year ago.
Sales of condominiums also declined, though with a very small sample, down from five in October 2017 to three last month.
Single-family sales in New Canaan also had seen a year-over-year decline in September.