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New Canaan Home Sales: Median Sales Price Up 18% in June
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The median price of a single-family home in New Canaan increased 18% year-over-year in June, from $1.9 million to $2,237,500, new data show. The overall number of houses sold declined 58% in the same period, from 67 to 28, according to data released by the New Canaan Board of Realtors.
Here’s a snapshot of market activity:
“Median sales price is up and closings at the higher end of the market increased by 50% plus,” the organization’s president, Anne-Lise Brown, said in a statement. “We are still below 2021 activity levels but I would expect that to remain as the volatility in the stock market and increasing interest rates hold some buyers back.”
Year-to-date, the median sales price of a single-family home is up 9%, from $1,776,000 to $1,942,500, according to the Board’s data. Houses spent about the same amount of time on the market in June compared to the year-ago month, at 108 and 109 days, respectively, according to the data. There were just 63 total houses on the market as of month’s end, the data show.