The State of the New Canaan Market. What's happening in January 2008.

As of today, January 16, 2008, there are 193 homes for sale in New Canaan. This number is up from only 167 as of the end of the year resulting from 26 new listings in New Canaan. Of the 193 homes for sale, 56 are new construction. There are also 21 homes that have contracts pending and 6 of them are new construction.
The breakdown is as follows:

24 over $5,000,000
18 between $4,000,000 and $4,999,999
27 between $3,000,000 and $3,999,999
54 between $2,000,000 and $2,999,999
51 between $1,000,000 and $1,999,999
19 under $1,000,000

In line with the average selling price, the largest category of homes for sale is the $2-3 million bracket. As we progress further into the year, the number of homes for sale will rise. If you are thinking of selling your home this year, sooner is better than later. Get a jump on your competition by having a professional market analysis, preparing your home for prospective buyers and pricing it right. Many buyers have delayed purchasing homes last year because of media reporting about the market slowdown, however, many buyers are ready to make their move now. Buying a house is not just an investment, it is where people live and the center of their families. More importantly, for many different reasons, some buyers have to move now. With interest rates continuing to drop, buyers are getting out there and getting interested.