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Data: New Canaan Single-Family Home Sales Largely Flat in May

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Sales of single-family New Canaan homes in May stayed largely flat on a year-over-year basis, while the median sales price fell, according to new data. A total of 22 homes were sold last month, compared to 20 in May 2018, an uptick of 10 percent, according to the New Canaan Board of Realtors. The organization’s president, Janis Hennessy, noted that inventory is down year-over-year, from 373 homes one year ago to 341 last month. “Sales were relatively flat, and the $800,000 to $2 million [range] was the strength of our market,” Hennessy said. Here’s a snapshot of sales data:

 

The median sales price declined by 8 percent year-over-year, from $1,250,000 in May 2018 to $1,152,750 last month, the data show.

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Home Sales in New Canaan Up 56% in April; Median Sales Price Also Increases

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Single-family home sales in New Canaan jumped 56% in April from the prior year, from nine to 14, according to new data from the Board of Realtors. Driven mainly by an increase in the $2 million to $3 million range, up from zero to five, the median price for homes also is up 16%, from $1,490,000 in April 2018 to $1,733,500, according to the data. “Millennials are embracing suburban living in New Canaan with our great schools, sense of community and vibrant, walkable town center,” according to Janis Hennessy, president of the New Canaan Board of Realtors. “The price ranges that saw the biggest gains were in the under $1 million and $2 million to $3 million range.”

Here’s a snapshot of the sales activity:

Sales of condos remained flat in the same time period, the data show. The number of single-family homes on the market is down 2 percent year-over-year, dropping from 324 to 317, the data show, while the year-to-date median sales price of a home is down 11 percent even with the strong April, from $1,499,500 to $1,340,000.

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Home Sales Up in February As Median Sales Price Declines 

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Sales of single-family homes in New Canaan increased 50 percent in February compared to the year-ago month, though the median sales price declined 21 percent in the same time period, according to new data. Driven mainly by sales of houses in the $1 million to $2 million range, the town saw a total of nine homes sold in February, compared to six in the same month last year, according to information from the New Canaan Board of Realtors. 

Here’s a snapshot of the sales data:

 

Year-over-year, the median sales price of a single-family home declined from $1,417,500 in February 2018 to $1,125,000 last month, the data showed. Year-to-date, the median sales price has declined 12 percent, according to the data. On average, homes are spending 12 percent less time on the market—163 days in February compared to 186 in the year-ago month. Inventory is down 4 percent year-over-year, from 270 homes one year ago to 259 last month.

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Single-Family Home Sales Up 14 Percent in January

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Sales of single-family homes in town ticked up 14 percent in January over last year, according to new data from the New Canaan Board of Realtors. In all, 16 homes were sold in January compared to 14 in the same month in 2018, the data said. The number of homes sold in the $1 million to $2 million range rose 29 percent, while the number of homes sold in the $2 million to $3 million range rose 50 percent. 

Here’s a summary:

 

The median sales price declined by 2 percent year-over-year, from $1,388,750 in January 2018 to $1,365,000 last month, according to the data. Houses are spending far more time on the market on average, the data said, up from 184 to 269 days, a rise of 46 percent. While the total number of single-family homes on the market rose by 3 percent, from 219 in January 2018 to 226 last month, the total number of condominiums on the market declined by 29 percent, from 45 to 32, the data said.

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Total Single-Family Home Sales in New Canaan Ticks Up in November as Median Sales Price Declines

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The town saw a modest uptick in the number of single-family homes in November, while the median sales price fell by 21 percent on a year-over-year basis, according to new data released by the New Canaan Board of Realtors. The total number of homes that sold increased from 14 to 16, according to the data. Within that total, the number of homes that sold in the $3 million to $5 million range declined from four to two year-over-year. That difference, along with a decline in the $1 million to $2 million range from nine to five, likely contributed to a drop in the median sales price, from $1,727,000 in 2017 to $1,360,000 last month. Here’s a snapshot of single-family home sales year-over-year:

 

Board of Realtors President Janis Hennessy said in a statement that she “likes the 14 percent uptick in single family home sales.”

The number of single-family homes on the market held steady, at 296 in November compared to 299 in the year-ago month, according to the data.