Dear Friends,
Often we get caught up in month to month
swings. After a big October (sales and pendings) the pan came off the
fire and things cooled down in December. It is time to reflect on 2014.
-
Double digit increases in median and average price show us that buyers
and sellers are finally meeting on homes over $2 million
- 242 closings is down from last year, but above average for the last five.
-
the Condo market was strong and will stay strong with too little
inventory to meet demand: 68 sales last year versus 47 previously.
-
Interest rate fears have begun to impart a sense of urgency. Buyers
who were content to to wait for a deal are running out of time. Sellers
will be anxious to sell before rates rise later this year. It should be a
brisk Spring.
Note, on page 7 of the Market Report "February
is historically the best month to list, with an average of 66 percent
of homes listed then selling within 90 days . . . home sellers were
better off listing their homes in the winter than during other
seasons."
How about the rest of the towns around us? Wilton,
Greenwich and Stamford are experiencing a similar 10% decrease in sales
volume (but Wilton has not seen the corresponding uptick in prices).
Darien's volume is merely flat amid modest pricing gains. Rowayton
stands out in the county with double digit gains in both volume and
prices.
Below is a link to our
New Canaan Market Report
recapping December and 2014. If you would like to call and discuss the
report, or if you would like a price opinion on your house, feel free to
let us know.
Best regards,
Susan Engel and John Engel
203-247-5999 203-247-4700
PLEASE CLICK HERE FOR THE JANUARY MARKET REPORT
listing prices number of listings absorption rate sold to list ratio
new median list falling 240 is high for Dec 9 months is high back down to 94%
 |
106 Dunning Road
$2.0 million
outstanding house |
 |
52 Mariomi Road GONE
new listing, just sold |
 |
82 Beacon Hill
3 acres new listing |
 |
Modern House
sneak peek $2.0 mm
in-house exclusive |
 |
Oenoke Lane
sneak peek
call (203) 247-5999 |
 |
20 Toilsome Avenue
great value $475,000 |
 |
New Canaan Sales 2003 |
 |
New Canaan Sales 2014 |