Here is a quick summary of what is happening in the market in our area.
- Area Sales: When looking at New Canaan and its surrounding towns of Stamford, Darien, Wilton, Norwalk, Westport, Weston and Ridgefield, collectively the total number of house closings is up 4.6% and volume of sales is up 3.3%.
- New Canaan market: While the 20 house closings in October was slightly lower then October of 2014, it's still the second most closings in this month in New Canaan since 2003.
- New Canaan Inventory: The 284 active New Canaan house listings as of November 1st is a 32.7% year-over-year increase and the most active houses at this time in the year since at least 2007. Similarly, the 47 condo listings is an 80.8% increase vs. last year.
- Pendings: Pendings are down in New Canaan, for both houses and condos. On November 1st there was a combined 27 houses and condos pending as compared to a combined 43 houses and condos pending at the same time in 2014, a 37.2% decrease.