‘Another Fantastic Month’: New Canaan Home Sales Rise Sharply in February

New Canaan single-family home sales increased more than fivefold year-over-year in February, new data show. The increase, from four to 22, represents a 450% and reflects strong sales in the $2 million to $3 million range, at five, according to data provided by the New Canaan Board of Realtors. “February was another fantastic month for single family home sales on the New Canaan Multiple Listing Service,” the organization’s president, Melissa Rwambuya, said in a statement. “Unit sales were up over 400% and the median sale price was up 13%, year over year. Buyer demand continues to outstrip low inventory, making it a great time to list a home for sale.”

She referred to the median sales price in February of $1,461,000, compared to $1,288,615 in 2020.

New Canaan Home Sales Double in January

Sales of single-family homes in New Canaan doubled in January, new data show. Driven mostly by sales in the $1 million to $2 million range, sales increased from 14 to 28 for the month on a year-over-year basis, according to data complied by the New Canaan Board of Realtors. The median home price also increased 20% year-over-year, from $1,213,500 to $1,450,700, according to the data. Here’s a snapshot of sales activity: 

 

Melissa Rwambuya, president of the New Canaan Board of Realtors and MLS, said in a statement, “What a difference a year makes. Single family home sales in New Canaan are up 100% over last January, condos 40% and median prices have also risen in both categories.

New Canaan Home Sales Up 129% in December

New Canaan home sales more than doubled year-over-year, from 17 to 39, in the month of December, according to new data. The 129% increase largely reflects a steep rise in the number of homes sold in the $1 million to $2 million market, according to data from the New Canaan Board of Relators. 

The median sales price also rose 7% in December, from $1.5 million to $1.6 million, the data show. Here’s a snapshot of sales activity:

 

 

Melissa Rwambuya, the Board’s president, called December “another solid monthly performance” in a statement. “Inventory and the number of days on market are both significantly lower than a year ago at this time,” she said. “It’s a great time to sell a home in New Canaan and always a great time to buy, settle here and take advantage of all the community has to offer.”

Homes in December spent an average of 142 days on the market, compared to 262 one year ago, a 46% decrease, the data show.

New Canaan Home Sales More Than Triple in November

Driven mainly by a six-fold increase in the $1 million to $2 million market, sales of New Canaan homes more than tripled in November year-over-year, according to new data. Single-family homes sold increased from 12 to 39—a 225% increase, according to the New Canaan Board of Realtors. Here’s a look at the data:

Melissa Rwambuya, president of the New Canaan Board of Realtors and New Canaan MLS, said in a statement that both single-family homes and condo sales are up 54% year-to-date. “Inventory is lower across-the-board and both single-family homes and condos sold much faster than in 2019, as reflected by the days on market,” Rwambuya said. “Pending sales are also way up so the news will be good in the coming months as well.

New Canaan Home Sales Double in October

Sales of single-family homes in New Canaan doubled year-over-year in October, from 13 to 26, new data show. The sales were driven in part by the $3 million to $5 million range, according to data released by the New Canaan Board of Realtors. 

Here’s a table breaking down the activity:

 

The Board’s president, Melissa Rwambuya, called October “another solid month for New Canaan real estate.”

“While things generally quiet down over the colder months we expect to see some of the momentum continue based on the number of transactions currently pending,” she said in a statement. The median sales price in October declined 9%, from $1,625,000 to $1,481,000, the data show. Year-to-date, the median sales price is up 9%, at $1,438,250. Inventory was down 20% from last October, with 226 single-family homes on the market at month’s end compared to 284 one year ago.