Is New Canaan, CT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, New Canaan has remained a Seller's Market.
Key Takeaway
New Canaan is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in New Canaan, CT
How much do homes in New Canaan, CT cost?
Median Sold Price
$1,803,350
$478/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in New Canaan have sold for 9.6% more than they did a year ago.
Summary: The median home sold price in New Canaan was $1,803,350 in March 2024, up 9.6% from last year, and the median price per square foot was $478.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $332.5K | $429K | +29.0% |
| 2 Bedrooms | $806K | $715K | -11.3% |
| 3 Bedrooms | $1.1M | $1.1M | 0.5% |
| 4 Bedrooms | $1.6M | $1.8M | +10.9% |
| 5+ Bedrooms | $2.7M | $2.6M | -0.1% |
Summary: New Canaan housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 29%, 2 bedroom homes decreased by 11.3%, 3 bedroom homes increased by 0.5%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes decreased by 0.1%.
Housing Supply in New Canaan, CT
How many homes are available in New Canaan, CT?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 86 | 101 | +17.4% |
Summary: The New Canaan real estate market had 101 homes for sale in March 2024, a 17.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 7 | +16.7% |
| 3 Bedrooms | 14 | 17 | +21.4% |
| 4 Bedrooms | 15 | 22 | +46.7% |
| 5+ Bedrooms | 51 | 55 | +7.8% |
Summary: The New Canaan housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 21.4%, 4 bedroom homes increased by 46.7%, and 5+ bedroom homes increased by 7.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 17 | +142.9% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Canaan, you could pay more than the asking price. 52.9% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in New Canaan in March 2024, up by 142.9% month-over-month. Of the 17 sold homes, 41% were sold under asking, 6% were sold at asking, and 53% were sold over asking.
Days on Market for New Canaan, CT
How long does it take to sell a home in New Canaan, CT?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in New Canaan has remained consistent over time.
Summary: During March 2024, 17 homes were sold in New Canaan; 0% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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