Data: New Canaan Home Sales Slowed in September

Sales of single-family homes in New Canaan declined by more than 50 percent year-over-year in September, according to new data. The month saw a 56 percent drop to 11 homes sold versus 25 in 2017, and the median price also fell 16 percent, from $1.6 million to $1,350,000, according to the New Canaan Board of Realtors. “There is a lot of uncertainty in the market,” said Janis Hennessy, president of the New Canaan Board of Realtors and MLS. “We have seen peaks and valleys throughout the year, just like other Fairfield County towns.”

In September, no New Canaan homes sold for up to $1 million, whereas seven sold in that range one year ago. 

Here’s a look at the numbers:

 

In a small sample size, sales of condominiums also saw a year-over-year decline, from three in September 2017 to just one last month, according to the data. 

Year-to-date, the median sale price of single-family homes in New Canaan has declined from $1.5 million to $1.4 million, according to the Board of Realtors. Inventory was about the same in September this year, with 317 single-family homes on the market compared to 312 in 2017.

New Canaan To Ban Real Estate Signs for Six-Month Trial Starting in July

New Canaan’s pervasive ‘For Sale’ signs next month will disappear from hundreds of properties on the market, following a decision from the organizing bodies for real estate professionals. The “trial ban” on real estate signs will run from July 1 to Jan. 1, according to Janis Hennessy, president of the New Canaan Board of Realtors. The decision was made by members of the Board as well as the New Canaan Multiple Listing Service, “to further improve our already beautiful town,” Hennessy said in a release. “At the end of that time we will re-examine the issue,” Hennessy said.

Did You Hear … ?

The state Superior Court on April 27 authorized the eviction of a Millport Avenue woman and two men from a New Canaan Housing Authority unit. ***

Buckle up: From May 21 to June 3, New Canaan Police will join a statewide a “Click It or Ticket” seatbelt enforcement campaign. ***

A locally owned company called Sports Media Properties LLC purchased the 2,000-square-foot, red barn-looking office building at 191 Elm St. downtown, behind the DEANE showroom, for $1.3 million, according to a property transfer recorded May 1 in the Town Clerk’s office. ***

The town on April 25 issued an after-the-fact permit to demolish a pool at 53 Alan Lane.

‘Good Reason for Optimism’: New Canaan Sees 50 Percent Rise in Home Sales in March

The number of single-family homes in town sold in March increased by 50 percent year-over-year, from 10 to 15, according to new data shared by the New Canaan Board of Realtors. Sales of houses $2 million and up saw the most dramatic increase, from just two last March to seven in 2018, the data said. For that reason, the median price of homes sold in New Canaan also jumped year-over-year, from $1,381,250 to $1,967,500—a 42 percent rise. Here’s a look at the data:

Janis Hennessy, president of the board, said the figures point to “a nice rebound in March.”

“Single family home sales are up in nearly every price category and the median price increase is strong,” she said. “Buyers have realized the value in a town with such outstanding schools and amenities.

Year-over-Year New Canaan Home Sales Down in February, Data Shows

Year-over-year New Canaan home sales in February declined by more than 50 percent, though pending sales are up in the same timeframe, according to new data supplied by the New Canaan Board of Realtors. Citing statistics from the Multiple Listing Service, the board said that homes in the $2 million to $3 million range dropped from eight to three year-over-year, while overall homes of single-family houses declined by 57 percent, from 14 to 6. Here’s a look at the data:

 

Janis Hennessy, president of the Board of Realtors and New Canaan MLS, noted in comments on the data that February is a short month, with a quiet week during school break, though “inventory is stable.”

“The spring market is just starting to kick in and we are now seeing buyers coming into our market,” Hennessy said. “We feel they were hesitant because of the potential tax law changes but are realizing we offer tremendous value and that New Canaan is an exceptional town to live in.  Interest rates hikes will also bring more buyers into town as the spring market progresses.”

In a small sample, sales of condominiums in New Canaan increased from six to four in February from last year, according to the MLS data: