If you have a blog I suppose you should be blogging! Well, the past several months got away from me which should indicate to you all that real estate in New Canaan became quite active.
As is the norm our inventory tends to rise during the spring. Properties look their best, people come out of hibernation and buyers want to be settled in their new homes before the weather changes. In the first six months 148 houses and 41 condominiums were new to the market creating an available inventory of 242 single family homes and 69 condos.
By the end of June, 87 homes had sold and there are 52 pending. Currently there are 20 sold condominiums and 10 pending . That’s the real story. Sales. Some buyers are shaking off their hesitation and taking advantage of low interest rates and numerous choices. Click on the chart above to see the yearly sale comparison. 2010 is showing a marked increase over the past two years. And, as evident from the second chart, sale prices continue to be stronger in the $2 million and below range. However, there has been a noticeable increase in the over $2 million and $3 million range. Will have the mid year analysis up in a couple of weeks.