New Canaan is still in a Buyer’s Market, but moving toward a balanced market. The Spring market resulted in more sales, lower inventory, but lower prices. The bottom of the market in most of Fairfield County occurred in January/February, but perhaps the New Canaan market has not yet hit bottom. New Canaan’s market is heavily dependent upon the high end of the financial services sector, which is still not as lucrative as it once was. The signals are mixed for the New Canaan market, lower inventory usually results in higher prices. Many signals are going in the right … (0 comments)
The New Canaan, Connecticut real estate market enjoyed a good, but not great Spring market. The 3 month trend shows that all indicators are showing signs of a more balanced market. The number of sales and sale prices are trending upward as is the Average List to Sales Price ratio. Average Days on Market has decreased. The amount of inventory that the market can absorb is still very high compared to other Fairfield County towns (of the nine towns we track, only Weston and Easton had slower absorption rates). We … (0 comments)
The New Canaan, Connecticut real estate market is showing signs of picking up yet. The 3 month trend shows that all indicators are showing signs of a more balanced market. The number of sales and sale prices are trending upward as is the Average List to Sales Price ratio. Average Days on Market has decreased. The amount of inventory that the market can absorb is still too high. We use the 12 month absorption rate instead of the 3 or 6 month rate to determine inventory absorption, which means that … (0 comments)
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