Home sales in New Canaan increased 8% in October from the year-ago month, according to new data.
The increase from 12 to 13 total homes sold included one in the $3 million to $5 million range, according to the data, released by the New Canaan Board of Realtors.
The organization’s president, Janis Hennessy, said New Canaan has seen “an active Fall.”
“The market is less seasonal than it used to be which is the sign of a buyer’s market,” Hennessy said in an email. “It is especially strong [year-to-date] in the $1 million to $2 million range. It’s a great time to buy.”
Here’s a table summarizing the activity in October:
Single-Family Home Sales, October 2019*
| Units Sold | ||
|---|---|---|
| Total | 13 | 12 |
| October '19 | October '18 | |
| $0 to $999,999 | 2 | 3 |
| $1 milion to $1.99 million | 7 | 5 |
| $2 milion to $2.99 million | 3 | 4 |
| $3 million to $5 million | 1 | 0 |
| $5 million+ | 0 | 0 |
*Data only includes homes listed for sale on the NCMLS and does not include condos.
The median sale home price declined 6 percent, from $1,735,000 to $1,625,000, from last October to last month, according to the data. Year-to-date, the median sale price of a single-family home is down 10%, to $1,315,000.
The average time on the market is down 43%, from 290 to 166 days, the data show.