News

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.

News

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.

Around Town

Did You Hear … ?

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The Greenwich Free Press is reporting that an arrest warrant has been issued for Heidi Lueders, a former town resident and head of a pit bull rescue organization who has been identified as the subject of an animal cruelty case in Fairfield. 

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New Canaan Police through the department’s Instagram account has issued safety tips for residents making online purchases in order to avoid becoming a victim of package theft. They include signing up for delivery alerts, ensuring someone is ready to collect the package, requiring a signature when possible and having packages sent to a workplace if feasible. ***

Asked about the Tourism and Economic Development Commission he plans to create, First Selectman Kevin Moynihan said locals have expressed strong interest in joining and that, after candidates are approved by local town political committees, the group will see about 15 total members. ***

The town on Wednesday issued an after-the-fact building permit for a $10,000 job at a Putnam Road home. A new bathroom with a shower had been installed in the basement of the home by New Canaan-based Hoffman Contracting LLC, the permit said.

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Number of New Canaan Home Sales Down 37 Percent in October, Median Price Up

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Sales of single-family homes in New Canaan declined 37 percent year-over-year in October, according to new MLS data. The drop, from 19 in 2017 to 12 this this year, largely reflects fewer home sales in the range of $2 million or less, according to data released by the New Canaan Board of Realtors. Here’s a snapshot of activity:

 

While the number of homes sold declined, the median price of single-family homes sold in October increased 31 percent, according to the Board, from $1,325,000 to $1,735,000. 

Year-to-date, the median sales price for single-family homes in New Canaan is down 2 percent, from $1,487,500 in 2017 to $1,475,00 this year. Homes for sale in New Canaan spent about 37 percent more time on the market in October this year compared to last, up from 211 to 290 days, according to the Board’s data. Inventory is up slightly, with 323 single-family homes on the market in October compared to 311 one year ago.