With just 74 single-family homes on the market at month’s end, the total number of home sales declined 49% year-over-year in September, from 39 to 20, according to new data.
The median sales price for the month also declined 2%, from $1,675,000 to $1,648,500, according to new data from the New Canaan Board of Realtors.
Even so, year-to-date, the median sales price of houses is 23% in New Canaan, noted Melissa Rwambuya, president of the Board Of Realtors and New Canaan Multiple Listing Service.
“With unprecedented low inventory, sales are down but demand remains very high,” Rwambuya said in a statement. “Sellers are seeing multiple offers on their homes so it is still a great time to be a seller. We do not see this buyer demand going away any time soon.”
Here’s a snapshot of sales activity:
Single-Family Home Sales, September 2021
|September 2021||September 2020|
|$0 to $999,999||2||6|
|$1 milion to $1.99 million||12||19|
|$2 milion to $2.99 million||4||8|
|$3 million to $5 million||2||6|
*Data only includes homes listed for sale on the NCMLS.
Single-family homes had spent just 84 days on the market in September, the Board’s data show, compared to 172 in the year-ago month.
There were 38 condos on the market at months’ end, the data show, and the year-to-date sales price is up 43%, from $670,000 to $960,000.