No Cooling Off for Record-Breaking Real Estate Market

January 28, 2021
Real Estate Homes Outside NYC in New Canaan CT

The record-breaking real estate market in New Canaan doesn’t want to cool down.

Almost every measurable metric used to compare single-family homes sales and prices is still trending upward, even as winter settles over Fairfield County and the rest of the state.

The year-to-date statistics comparing 2020 to 2019 are eye-popping.

–The average sales price of a home in New Canaan rose 12.8 percent to $1,691,454;

–The median sales price rose 7.2 percent to $1,439,000;

–The average sales price per square foot rose 7.9 percent to $374;

–The average list price of a home rose 6.5 percent to $2,250,951

Some numbers went down, but only ones that are positive news for home sellers, which included a drop in the average number of days a home was on the market.

If you were to compare sales in December 2020 to December 2019, the numbers were equally impressive.

–The median sales price rose 5.8 percent to $1,586,500;

–The average sales price per square foot rose 20.1 percent to $406;

–The average list price of a home rose 23.1 percent to $2,634,585

The only “negative number” may be that the inventory of available homes for sale in the community is at its lowest point in many years. 

For those of you who are keen to list or purchase a New Canaan home, you can get in touch with one of our Real Estate agents here.

More than 300,000 New Yorkers left the Big Apple since February 2020, with most heading towards Connecticut. The US Postal Service data says that over 10,000 New Yorkers changed their addresses to Connecticut from March through June. This compares to just 1,200 over the same period in 2019.