The February New Canaan Multiple Listing Service real estate statistics were what we expected following a slower 4th quarter in 2017. February is a short month and the school vacation is a very quiet week. Inventory is stable and even though we had fewer closings, pending sales are up over same time last year.The Spring market is just starting to kick in and we are now seeing buyers coming into our market. We feel they were hesitant because of the potential tax law changes, but are realizing we offer tremendous value and that New Canaan is an exceptional town to live in. Interest rates hikes will also bring more buyers into town as the Spring market progresses.
(Janis Hennessy, President of the New Canaan Board of Realtors and the New Canaan Multiple Listing Service)
| New Canaan | UNITS SOLD | MEDIAN PRICE | AVG DAYS ON MARKET | ||||||||
| Feb-18 | Feb-17 | % ch | Feb-18 | Feb-17 | % ch | Feb-18 | Feb-17 | % ch | |||
| $0 – $999,999 | 0 | 0 | #### | 1417500 | 1562500 | -9% | 311 | 316 | -2% | ||
| $1 million to $1.99 million | 2 | 2 | 0% | ||||||||
| $2 million to $2.99 million | 3 | 8 | -63% | ||||||||
| $3 million to $5 million | 1 | 3 | -67% | ||||||||
| $5 million and over | 0 | 1 | -100% | ||||||||
| TOTAL | 6 | 14 | -57% | ||||||||
| New Canaan | Sales of Condominiums | ||||||||||
| UNITS SOLD | MEDIAN PRICE | AVG DAYS ON MARKET | |||||||||
| Feb-18 | Feb-17 | % ch | Feb-18 | Feb-17 | % ch | Feb-17 | Feb-17 | % ch | |||
| $0 – $499,999 | 2 | 3 | -33% | 653000 | 337500 | 93% | 186 | 148 | 26% | ||
| $500,000 – $999,999 | 3 | 1 | 200% | ||||||||
| $1 million to $1.99 million | 1 | 0 | #### | ||||||||
| $2 million and over | 0 | 0 | #### | ||||||||
| TOTAL | 6 | 4 | 50% | ||||||||
| New Canaan | Inventory | END OF THE MONTH | YTD MEDIAN SALE PRICE | ||||||||
| Feb-18 | Feb-17 | % ch | |||||||||
| # SF Homes on mkt | 255 | 253 | 1% | 2018 | % ch | ||||||
| SF Homes | 1388750 | 1500000 | -7% | ||||||||
| # condos on mkt | 43 | 45 | -4% | Condos | 653000 | 370625 | 76% | ||||
