News

Data: 22 Single-Family Homes Sold in May

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Sales of single-family homes in May was down 29%—to 22 from 31—compared to the year-ago month, new data show. The median sales price also declined 13% year-over-year, from $2,012,500 to $1,750,500, according to data released by the New Canaan Board of Realtors. 

Even so, the sales figures are up from April, officials noted. “May stats show a ticking upwards of sales—especially in the $1-2 million price range—but one must remember that sales that closed in May likely went to contract in March and April,” Board President Anne-Lise Brown said in a statement. “We end May with a significant—40%-plus—increase in existing inventory, 49 homes in May versus 34 in April. Finally, the year-to-date sales price is down versus this time last year when the sales prices were rising.”

Here’s a snapshot of market activity:

 

Year-to-date, the sales price of a single-family home stands at $1,875,000, according to the data, compared to $1,750,000 through the first five months of 2021. 

Homes spent just 106 days on the market, on average, last month, compared to 159 in May 2021—a drop of 33%, the data show. 

Six condominiums sold in May, compared to four in the year-ago month, according to the data. The median sales prices of a condominium, year-to-date, was up 12% through the first five months of the year, the data show, at $1.1 million versus $985,000 in 2021. 

Anne-Lise Brown

New Canaan Board of Realtors: Market ‘Remains Relatively Flat’

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The median price of a single-family home increased 32% year-over-year in February, from $1,475,000 to $1,942,500, according to new data, even as the total number of home sales declined. 

Just 43 homes were on the market at month’s end, according to the data, released by the New Canaan Board of Realtors. Here’s a snapshot of market activity:

 

Anne-Lise Brown, president of the Board of Realtors and New Canaan MLS, said in a statement, “The market remains relatively flat, and we did not see the uptick we were hoping for with new listings in February but we expect more inventory for the coming spring market.”

Through the first two months of 2022, the median sales price of a single-family home in New Canaan is up 44%, to $2,131,000, according to the data. Homes spent 147 days on the market on average in February, compared to 172 one year ago, the data show, a decrease of 15%. The median sales price of condominiums also was up year-over-year in February, from $1,449,500 to $2 million, a 38% jump, the data show. Condos also are moving more quickly, with 79 days on the market on average in February compared to 127 in the year-ago month.

News

Median Sales Price of a New Canaan Home Up 48% in January

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The median sales price for a single-family home in New Canaan increased 48% year-over-year in January, according to new data. The rise, from $1,450,750 to $2,150,000, comes even as the number of overall home sales declines from 28 to 17 i the same period, according to data released by the New Canaan Board of Realtors. Here’s a snapshot of market activity:

 

“As anticipated, single family median sales price is up and unit sales are down,” Anne-Lise Brown, president of the Board of Realtors and MLS. “With new condo development units selling well, the condo market is keeping pace with 2021. I suspect that will continue through the spring.

Anne-Lise Brown

Median Sales Price of New Canaan Home Rises 22% in 2021

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With just 78 single-family homes in New Canaan listed on the market at the end of December, the overall number of homes sold in the month declined to 16 from 41 one year ago, according to new data. The median sales price for December stood at $1,557,000, according to data released by the New Canaan Board of Realtors. The figure is down 3% from the year-ago month, though for all of 2021 the median sales price increased 22%, from $1,442,500 to $1,759,000, the data show. “Given the lack of inventory, it is no surprise that prices have increased to the extent that they did at the end of 2021,” Anne-Lise Brown, president of the New Canaan Board of Realtors and New Canaan MLS, said in a statement. “However, I would caution that as more inventory comes on the market in 2022, these numbers may not be sustainable. What I do hope is that local families can take advantage of the shorter ‘days on market’ to make the most of the opportunities for their families.

Anne-Lise Brown

Median Price of New Canaan Home Up 37% in November, Overall Sales Down Year-Over-Year

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The median sales price for a single-family home in New Canaan increased 37% year-over-year in November, according to new data. The rise, from $1,399,000 to $1,915,000, came even as the number of overall home sales declined from 39 to 23 in this seller’s market, the data from the New Canaan Board of Realtors show. Referring to the 41% decline, the organization’s president, Anne-Lise Brown said in a statement, “One month’s stats don’t reflect the bigger picture.”

Here’s a look at the month’s activity:

 

Year-to-date, the median sales price of a single-family home in New Canaan is up 24%, from $1,427,500 to $1,775,000 through November, the data show. There were just 80 single-family homes on the market in New Canaan at month’s end, according to the data. They spent an average of 108 days on the market, down from 135 last November.