Market Trends Report
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 use the 12 month figure to determine inventory absorption, which means that it would take 18.5 months to sell every home currently on the market in New Canaan.
Thinking of buying or selling in New Canaan, Connecticut, call Gail Robinson, REALTOR, at 203-521-0768 for a consultation.