[image title=”yearly-comparison-of-monthly-sales-in New Canaan, CT. 2007-20101″ size=”large” id=”672″ align=”left” linkto=”viewer” ]
Buyers took advantage of the price dip in the market and the low mortgage rates to boost real estate sales in New Canaan. January sales topped the last 4 consecutive years in number of closings. As of this posting there are 20 properties with deposits and signed contracts just waiting for their upcoming closing date.
The numbers used to create this chart come from our local New Canaan MLS which is not guaranteed, but are considered very reliable. I love numbers and we are being bombarded by them everyday in relation to the housing market in this country. Remember, real estate is very local and I find putting our own community figures together gives me a pretty accurate snapshot of the market in New Canaan.
Inventory will start to increase as sellers try to capture the “bonus” and “spring” markets. However, buyers are beginning to realize that prices have bottomed and interest rates won’t stay low for long. The next few months should be quite active if January and February are any indication.