New Canaan Market Report: May 2013

Year-Over-Year looking UP: A good indication of the energy in the market right now is the year-over-year increase in total houses sold, up for the month of April and the first four months of the year (see chart). An even better indication is the amount of pendings—properties that are currently under contract but have yet to close. There were 28 houses that went pending in April, the second highest total in the past two years, with the most pendings in any one month happening in March of 2013 when we had 29. In all, there were a total of 63 houses with a pending status as of May 1. They ranged in price from $498,000 to $4,595,000, with a median list price of $1,655,000.
Hottest Price Point: In the first four months of 2013, 18 of the 51 properties sold for under $1 million (35%). What makes this a particularly competitive price point for buyers is that there are currently only 23 active house listed under $1 million.
New Listings: There were 55 new house listings that came on the market in April, a considerable amount yet still less than April of 2012, when we had 79 new house listings.
Inventory: There were a total of 227 active houses (a 14% decrease from the same time last year), ranging in asking price from $519,000 to $15,900,000 with a median list price of $1,995,000.

© 2018 Nicole Steel is a real estate agent with Steel RE Partners and licensed in the state of Connecticut · Last modified: 01 July 2013 · Log in · Site Map · IDX · Real Estate Web: darrylo