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


'For Sale' signs in New Canaan. Credit: Michael Dinan

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:

New Canaan: Single Family Home Sales, November 2018*

 Units Sold 
November '18November '17
$0 to $999,99950
$1 milion to $1.99 million59
$2 milion to $2.99 million41
$3 million to $5 million24
$5 million+00
Source: New Canaan MLS
*Does not include condos


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. Within that figure, the largest change was in the $5 million-plus range, where inventory declined 21 percent, from 24 to 19, the data said.

Houses in November also spent a great deal more time on the market than they did in 2017. The average days on the market increased 41 percent, from 191 to 269, according to the Board’s data.

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