New Canaan Market January 2016

Fellow Real Estate fans,

China and oil grabbed all of the financial headlines this month. What about the Fairfield County real estate market? Glad you asked. Public Open Houses are getting traffic. Pendings are up (17 versus 11 in the last 30 days) This is what is happening in the market in our area:   

• Area Sales: We told you Stamford, Darien, Wilton, Norwalk, Westport, Weston and Ridgefield collectively show the number of sales is up 4.54% and $ volume up 3.3%.  When you take out Westport and Ridgefield and add Greenwich the county sales are up 9.3% and dollar volume down 3.1% 
• New Canaan market: 243 house sales was the same as last year. This is 21 houses above our 10 year average of 222 single family home sales.
• New Canaan Inventory:  We begin the year with 188 houses, up 47 houses and 33.3% year over year. Pretty soon we will stop talking about last year and accept that a range of 188-340 is the new normal 
• Condos:  Much attention has been placed on the decrease in sales: down 37.7% for the year. But as we said last month 2014 was exceptional and a statistical aberration. We came in at the new normal level for sales (38 sales vs. the 9 year median of 45) and inventory (40 active vs the 9 year median of 47). 
• Pendings: Pendings are up in New Canaan houses (16 vs. 12 at year end) & down for condos (2 vs 5).  

Interest rates will rise this Spring and the psychological impact cannot be overestimated. A rising tide could impart a newfound sense of urgency to both buyers and sellers. Sellers may accept the diminished buying power and borrowing power of buyers. Lookers,  fearing a market slipping away from them, may become buyers. We have the inventory; tThis Spring should see more deals at all levels.  

Below is a link to our January Market Report, which includes detailed information on the market this past year.  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) .   

Best regards,          

John and Susan

 

29 Maple Street condo $899,000 

If you want a condo that's in the downtown this is the one. High ceilings. Beautiful wood floors. Gardens. Owner is highly motivated to make a deal this winter. Bring it.

Pride's Crossing #9 condominium - $899,000

A beautiful brick end unit at Pride's Crossing means twice as many windows, double the light. The garage is a few steps from the patio. The basement is finished.

108 Toby's Lane -  $1,350,000

One of the few examples under $1.5 on the West side, this immaculate house offers privacy, a play yard and a view of the river.

474 Main St. condominium - $1,400,000

A 2014 built condo, top of the line kitchen, 2 garages, Geothermal heating & cooling, with views of a forest and pond with flat sidewalks into town.
 

309 Park St. condominiums - $1,650,000

NEW construction along Mead Park.  The front house has a first floor master. The rear house borders the park. 

  289 New Norwalk Rd condominium - $1,695,000

Very private townhouse in the newer portion of Canaan Close features 3 large bedrooms (with ensuite baths) and 6 private balconies or decks overlooking the 5 Mile River

44 Benedict Hill - $1,799,000  The Evans House

From 1960, one of the most striking and pure examples of midcentury modern architecture in the world, period. Put this one on your bucket list.  Now rented for 2016/2017. See the video of architect James Evans discussing it here.

1380 Ponus Ridge Road - $2,550,000  Willis Mills House

Yes, its an important midcentury modern. But, it's an absolutely livable and fun modern house with the finest materials, a gourmet kitchen, pool and attached garage. And, at this price you simply cannot find a better modern.

1094 Ponus Ridge - $2,222,000

You say you want charm and character from the 1930's, but updated. You want a "football field" flat lawn. And, you'd like to live on Ponus. This is the house for you. See the video of 1094 Ponus's sunset views here.

 

242 Wahackme Rd - $3,400,000

Maybe the best poolside entertaining in New Canaan. Consider it has the grandest soaring front foyer. This is an important house, showing like new, not to be missed.

1083 Smith Ridge - $4.200,000  Everybody who enters this house says "Wow " Four levels of beautifully finished space & high ceilings, includes a gourmet eat-in kitchen, adjoining family room & lower level spa opening to the outdoor pool. A paneled library, with fireplace, terrace & alcove is a godsend. See the video of 1083 Smith Ridge.

 

 

227 Lambert Road - $5,150,000 

The quintessential family compound on the banks of the Five Mile River includes a gracious main house with river views, a separate studio/office, a guest house and the expertly designed, award-winning party barn. The peaceful, 2.6 acre property is bordered by 2.4 acres of Land Trust and the river. See the video of 227 Lambert Road here.

 

 

 

 

 474 Main Street  rental  $7500  

1654 Ponus Ridge  rental  $5900
44 Benedict Hill   rental    GONE

1271 Oenoke Ridge  rental  $4000 

 

Three Really Great Houses

I just love these three new listings.  I'd be proud to call any one of them my forever home.

The first, at 227 Lambert Road, is definitely what you'd call a "forever home"  It is a beautiful home on a beautiful flat property beside a picturesque river about a block from the Country Club. Alongside the home are three of the most beautiful barns you've ever seen. The first is currently set up as an exercise studio. The second is a two bedroom apartment for guests. And the third barn is whats known as a"party barn" because it has got everything you will need to throw the party to end all parties. Inside, under high ceilings and massive beams is a bar area, a full chef's kitchen, large screen TV's, and a massive sliding barn door that opens to let the party spill outside. Downstairs is enough room for 20 square dancers. Or, a trading floor. Or, a Zumba studio. Upstairs is sleeping accommodations for what seems like half a dozen guests, at least.

While on the one hand this compound of interesting buildings appeals to a certain nostalgia we all have for the house in the country that is not too big, not too small, with great fireplaces, old reclaimed barn-wood floors and full of interesting spaces and character, it also appeals to our more modern needs for an open floor plans, high ceilings and space to get away from everyone. After all, sometimes you just want to go dancing, or exercise, or watch a movie or play music with the sound all the way up. That's what the barns are for.

The second house is practically in the middle of town (although you'd never know it!) Hidden behind an electric gate this vintage 1938 colonial sits on one acre with a pool only steps from the village and train station. I promise if you live here you are definitely close enough to walk to the train and walk home from the bars.

The house was home to several stars over the years. Mary Martin, the original Peter Pan on Broadway, lived here in the 1950's with her teenage son, Larry Hagman, who would later play Major Nelson on "I Dream of Jeannie" and later J.R. Ewing on TV's Dallas. Thirty years later Academy Award winning actress Claire Trevor bought this house and added the first floor master bedroom suite, an elegant suite which is today as elegant and far more tasteful than anything you'll find in Beverly Hills.

Finally, this stunning modern home on 93 Graenest Ridge Road in Wilton is the surprise of the group. Unassuming when you approach coming up the driveway, this house of wood and stone really opens up on the sides and rear with walls of glass to let the light and feeling of nature inside. I think this is going to appeal to someone coming from the city who just wants to get away from the bustle and is drawn to the sophisticated design and the private setting. And, what they'll discover is that there is a secret trail through the woods to the restaurants and shopping of downtown Wilton center. That combination of both style and privacy with such proximity to the best of Wilton makes this house completely unique on the market.

227 Lambert Road Farm: Is it Time to Buy Your Forever House?

Relax and unwind at New Cannan's Lambert Farm, where serenity and entertainment meet along the banks of the Five Mile River. The Farm includes a gracious main house accompanied by three separate and unique buildings;  a studio retreat, a guest house and "The Barn", winner of the 2007 Builder's Choice Award for Adaptive Reuse.

The Barn restoration houses a full kitchen, pantry, game room and two bedroom bunk lofts which sleeps 8. It is the ultimate in entertainment space. Copper counters and soapstone sinks are surrounded by period farm implements used as hardware and wall decorations.

 

Original lumber and horse stalls were preserved and smartly incorporated into the barn to maintain the character and history of the original farm.  A good time to be had by all who visit. The piece de la resistance of the barn is a 30 foot silo which has been dramatically converted into a copper spun spa surrounded by radiant heated walls and topped by a copula to let in natural light.  The spa was featured by Diamond Spa in their promotional materials. 

For the wine enthusiast, a wine cellar and sipping room hideaway can be found in the basement by following the terra cotta tiles through the rod iron gates.





 A well appointed one bedroom Guest House with full kitchen, full bath, stone fireplace and blue stone patio provides a separate retreat for visiting family and friends.

The Studio Retreat can be adapted to be an artist studio, office, library or any other space that one desires. It has 14 foot vaulted ceilings and built-in shelves, hardwood floors and has heat and air conditioning.




All this is waiting for you along with the sophisticated town of New Canaan,  its award-winning schools, delicious restaurants, boutique shopping and express train to NYC.

  The 5 bedroom Main House underwent a complete renovation to add an additional kitchen to the front of the house, family room and solarium.  

 

  The original kitchen was also renovated with curly maple cabinetry, gold & silver leaf ceilings and amber fixtures, and now serves as a butler kitchen adjacent to the dining room.  Appliances include high-end 3 Sub Zero refrigerators, a Viking stove, and Jotul fireplace inserts.  Random-width, wide board reclaimed antique pine floors line much of the main level.  The warmth of the solarium is enhanced by radiant heat and African Slate floors.  The second floor includes two bedrooms and a master suite.   An office/Au-pair suite with full bath sits atop the garage.