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Home Sales Rise 13% in December; Median Sales Price Declines 3% in 2019

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Sales of single-family homes in New Canaan increased 13% in December, according to new data. The rise from 15 to 17 homes sold year-over-year reflects an increase in the $2 million to $5 million range, according to data released by the New Canaan Board of Realtors. The median sales price also increased 21% in the same period, from about $1.24 million to $1.5 million, the data said. Here’s a snapshot of home sales activity in the month:

 

Homes had spent an average of 262 days on the market in December, up from 151 days the prior year, according to the Board’s data. Single-family home inventory is down in the same period, from 262 to 199, the data said.

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New Canaan Home Sales Decline in November; Median Sales Price Ticks Up

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New Canaan sold fewer homes in November than in the year-ago month, data show. Sales of single-family homes decreased from 16 to 11—a 31-percent decline, according to data released by the New Canaan Board of Realtors. 

The largest drop came in the $2 million to $3 million segment, which saw just one sale last month compared to four one year ago, the data show. Even so, the median sales price ticked up 3% month-over-month, to $1.4 million. 

Here’s a snapshot of the new sales data:

 

Year-to-date, the median price of single-family homes in New Canaan is still down about 8%, from $1,442,500 to $1,320,000, according to the Board. (The median sales price of condominiums is up 7% in the same period, to $730,000, the data show.)

New Canaan homes’ average days on the market in November was down to 233 from 269 one year ago, according to the Board. There were 244 homes on the market last month, compared to 304 in November 2018, the data said.

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New Canaan Home Sales Up 8% in October; Median Sales Price Down

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Home sales in New Canaan increased 8% in October from the year-ago month, according to new data. The increase from 12 to 13 total homes sold included one in the $3 million to $5 million range, according to the data, released by the New Canaan Board of Realtors. 

The organization’s president, Janis Hennessy, said New Canaan has seen “an active Fall.”

“The market is less seasonal than it used to be which is the sign of a buyer’s market,” Hennessy said in an email. “It is especially strong [year-to-date] in the $1 million to $2 million range. It’s a great time to buy.”

Here’s a table summarizing the activity in October:

 

The median sale home price declined 6 percent, from $1,735,000 to $1,625,000, from last October to last month, according to the data. Year-to-date, the median sale price of a single-family home is down 10%, to $1,315,000.

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Data: New Canaan Home Sales More Than Double in September

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Sales of single-family homes in New Canaan more than doubled year-over-year in September, according to new data. New Canaan home sales increased from 11 in September 2018 to 24 last month, a rise of 118%, according to the New Canaan Board of Realtors. 

The organization’s president, Janis Hennessy, said, “Some bright spots show themselves in the market data with single-family home sales in New Canaan up well over 100% in September 2019 over the same period last year. Inventory is down by 66 units over the same period. I like those trends.”

Much of the difference in sales came in the $1-million-and-under range, from zero one year ago to eight last month. Here’s a table tracking the data:

 

Sales of condominiums also increased from one last September to three this year, the data show.

August Home Sales: Median Sales Price Down 11% Year-Over-Year

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Though the number of single-family homes sold in New Canaan was largely flat in August, the median sales price declined by 11% year-over-year, according to new data. Due largely to increases in sales up to $2 million, the total number of homes sold ticked up from 26 to 27 this August compared to last, according to data released by the New Canaan Board of Realtors. 

Yet the median sales price declined from $1,331,250 to $1,185,000 in the same period, the data show. Here’s a table summarizing the activity:

 

Year-to-date, the median sales price of single-family homes in New Canaan is down 7%, from $1.4 million to $1,302,500, according to the data. Homes for sale are spending fewer days on the market, according to the data—down from 184 days to 145, on average, a decline of 21%. Inventory is also down, as there were 281 homes on the market at month’s end, according to the data, compared to 333 the prior year.