New Canaan is still in a strong Buyer’s Market. The Spring market resulted in more sales, lower inventory, and higher prices. The bottom of the market in most of Fairfield County occurred in January/February and January was the lowest point so far for New Canaan prices. Prices have been rising over the past 12 months, although the number of sales has slowed down over the past three months.
48 homes over $2 million sold over the past 12 months. The lowest price was $365,000 and the highest was $5,300,000. The median sales price was $1.4 million.
What homes are most in demand by buyers in New Canaan? The sweet spot in the market is for 4 bedroom homes with a list price of $1.3-1.4 million. They tend to be on the market 114 days and sell for 95% of list price.
NEW CANAAN INVENTORY
NEW CANAAN SALES