Is New Canaan, CT a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New Canaan is a seller's market

Buyer's
Market

Difference Since October 2021

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.

How much do homes in New Canaan, CT cost?

Median Sold Price

$1,625,000

$427/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$112,666(+7.4%)

Key Takeaway

Homes in New Canaan have sold for 7.4% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $325K$357.5K
+10.0%
2 $542.5K$622.5K
+14.7%
3 $975K$1.0M
+3.4%
4 $1.3M$1.5M
+10.8%
5+ $2.1M$2.5M
+19.0%

Median Sold Price Compared To Nearby Cities

Norwalk
+8.5%
Wilton
+8.1%
New Canaan
+7.4%
Stamford
+5.3%
Darien
+1.6%

How many homes are available in New Canaan, CT?

Number of Homes For Sale

Sep 2022Oct 2022%
148137-7.4%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 44
0.0%
2 1210
-16.7%
3 2222
0.0%
4 3428
-17.6%
5+ 7673
-3.9%

Number of Homes Sold

Sep 2022Oct 2022%
2524-4.0%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New Canaan, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About New Canaan, CT

Homes for sale in New Canaan, CT have reached 137. The inventory of homes for sale in New Canaan, CT between September 2022 and October 2022 decreased by 7.4%. Between September 2022 and October 2022, listing prices of homes in this real estate market have seen the following changes: prices of 1 bedroom properties went up by 10%, 2 bedrooms properties prices increased by 14.7%, 3 bedrooms properties prices increased by 3.4%, prices of 4 bedrooms properties went up by 10.8%, prices of 5 bedrooms properties went up by 19%. Housing inventory have changed in this real estate market: volume of 1 bedroom homes stayed the same, number of 2 bedrooms homes decreased by 16.7%, the quantity of 3 bedrooms homes have not changed, 4 bedrooms homes became 17.6% less available, number of 5 bedrooms homes decreased by 3.9%. While more than 7 listings in New Canaan, CT in October 2022 were sold above asking price, there were more than 7 listings sold at asking price, and more than 10 were sold below.

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