News

Data: Eight Single-Family Homes Sold in April

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Eight single-family homes were sold in New Canaan in April, new data show, down from 38 in the year-ago month. The median sales price for a house increased by 33% in the same period, from $2,025,000 to $2,687,500, according to data released by the New Canaan Board of Realtors. Here’s a snapshot of market activity:

 

So far this year, the median sales price of a single-family home has risen 15%, from $1,650,000 to $1,905,000, according to the data. There were just 34 homes on the market at the end of April, the data show, and homes are spending an average of just 164 days on the market in April, compared to 172 one year ago. Sales of condominiums increased to five in April compared to four in the year-ago month, according to the data.

News

Home Sales Down 37% in March

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With inventory still down, the number of single-family New Canaan houses that sold in March declined 37% year-over-year. The total number of homes sold dropped to 17 in March from 27 in the year-ago month—largely reflecting a decline in houses sold in the $2 million to $5 million range, according to new data released by the New Canaan Board of Realtors. Though the year-to-date median sales price is up 16% (to $1,825,000), the median sales price for the month declined 10%, from $1,650,000 to $1,485,000, according to the data. Here’s a snapshot of market activity:

 

There were just 32 single-family homes on the market at the end of March, according to the data, and 30 condominiums. Houses spent just 119 total days on the market in March, on average, compared to 170 in the year-ago month, a 30% change. Meanwhile, two condos were sold last month compared to five in March 2021, according to the data.

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.