Sales of single-family New Canaan homes in May stayed largely flat on a year-over-year basis, while the median sales price fell, according to new data.
A total of 22 homes were sold last month, compared to 20 in May 2018, an uptick of 10 percent, according to the New Canaan Board of Realtors.
The organization’s president, Janis Hennessy, noted that inventory is down year-over-year, from 373 homes one year ago to 341 last month.
“Sales were relatively flat, and the $800,000 to $2 million [range] was the strength of our market,” Hennessy said.
Here’s a snapshot of sales data:
Single-Family Home Sales, May 2019*
| Units Sold | ||
|---|---|---|
| Total | 22 | 20 |
| May '19 | May '18 | |
| $0 to $999,999 | 7 | 5 |
| $1 milion to $1.99 million | 11 | 10 |
| $2 milion to $2.99 million | 3 | 3 |
| $3 million to $5 million | 1 | 2 |
| $5 million+ | 0 | 0 |
*Does not include condos
The median sales price declined by 8 percent year-over-year, from $1,250,000 in May 2018 to $1,152,750 last month, the data show.
Year-to-date, the median sales price of single-family homes is down 11 percent, according to the Board.