For most of 2016, local markets in Darien and New Canaan were driven by a nagging oversupply of inventory and a resulting lack of urgency on the part of homebuyers. As such, the picture painted by the typical year-end statistics is not particularly pretty for sellers: The number of homes sold in Darien and New Canaan during 2016 was down 10.3% and 24.3%, respectively, compared to the 2015 totals.
That said, a careful look at the fourth quarter (particularly the post-election period) reveals some compelling reasons for optimism. Consider the following:
New Canaan year-end pending sales are higher. In New Canaan, the number of transactions pending on December 31, 2016 was 28, compared to only 13 pending transactions on that date in 2015; this marks a year-over-year increase of 115.4% in pending sales activity. For more detailed information..
Click on the image below to view and download the
2016 New Canaan 4th Quarter Market Report.