New Canaan Real Estate Market Stats 2011

In looking back at last year’s statistics, New Canaan did just fine. While certainly not a blockbuster year by any account, we can see a slight increase in the average sales price. There were 193 sales of residential single family homes as compared to 192 in 2010, which is just about even. The average sales price of these sold homes actually increased to $1,841,490 from $1,704,612 in 2010 representing an increase of 8%; however, what these statistics do not show is that values of those homes sold have decreased from previous years. The properties that have sold represent sellers who have adjusted their prices to reflect market demand. The overpriced and unrealistic priced homes on the market either remain on the market unsold or have been withdrawn.

As for this coming year 2012, at this point there are only 183 homes actively on the market. This inventory will climb as we get further into the year and the spring selling season. My advice to anyone who is thinking of selling this year, do it soon and do it early. Stay ahead of your competition and get a jump on the market. Price your home according to the most recent comps, prepare your home to look its best and hire an experienced agent who is knowledgeable in the local market and who has a proven track record of getting homes sold.

The picture above is one of my listings that sold last year for above the asking price. It was located at 64 Butler Lane. The sellers took my advice and priced their home competitively but attractively, prepared the home thoroughly for the market, both inside and out and planned in advance for a smart sell. Priced at $1,795,000, it sold in less than 30 days for $1,820,000

Raveis Real Estate Page updated: January 26, 2012 @ 8:24 pm | © 2018 Denise Gannalo, Realtor Licensed in the State of Connecticut
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