Data: Eight Single-Family Homes Sold in April

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.

Home Sales Down 37% in March

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.

Median Sales Price of a New Canaan Home Up 48% in January

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.