walk to town, under $1mm
high-style, new wow price
privacy, a gated community
76 Sturbridge Hill Rd $1.599
2 acres, 5 beds, pool, new price
great value, pristine
1094 Ponus Ridge $2.08
reduced 20%, wow price!!!
The Willis Mills House, 1956
gone, two offers. rented it!!
(another modern coming on this week, email for pictures)
shingle style and great pool
227 Lambert Road $4.780
a romantic estate, new price!
How's the market? Everybody is asking. First, some data.
20 houses were sold in April, up from 15 and the most in April since 2007. It allowed us to catch up to where we were last year. Its been a late Spring market.
After 4 months we have 51 sales versus 49. We are not in a recession. This is solid sales volume.
The average sale price decreased 14% since this time last year, down from $2.228 million to $1.908 million. This is a result of more sales at the low end of the market.
We have had zero sales over $4 million this year. Zero. That part of the market is struggling. Last year we posted 3 super-sales in the first 4 months. Sales at $11 .7 million and $5.1 million were attributed to large sub-dividable lots while the $4.2 million sale was a beautiful newer home on 4 acres. Instead, this year we've seen 7 sales between $3.0 and $3.75 million, up from 2 at this time last year.
New Canaan single family home inventory has increased 37% from 260 to 332. As of the writing of this market report two weeks later that total has climbed to 347. We had predicted a June peak of 370 in our February Market Report and we stand by the prediction because pending sales are down 41% from where they were last year year. Instead of looking forward to 61 sales in the next two months we are on track to sell only 36.
Let's break it down...
Below is a link to the New Canaan May Market Report. If you would like to discuss the report, or if you have any other questions, feel free to contact us at 203-247-4700 (JE) or 203-247-5999 (SE).
John and Susan