The answer is good. Buyers are coming out and looking, some homes are going pending and compared to last year, we are light years ahead in sales. During the first 6 weeks of 2009 compared to the same time frame this year, there were actually no sales at all in New Canaan. So far to date, we have had 16 closings with the average sales price of $1,660,000. These sales took an average of 271 days on the market and sold at 91.92% of asking price. Not too bad.
The following is the list of homes that sold
6 Leslie Lane $585,000
74 Thayer Drive $735,000
82 Woodland Rd $850,000
165 Orchard Dr $890,000
103 South Ave $900,000
35 Benedict Hill $1,020,000
135 Lone Tree Farm $1,298,000
216 Carter St $1,800,000
380 Michigan Rd $1,875,000
87 Bald Hill Rd $2,295,000
12 Wascussee Ct $2,300,000
70 Thrush Lane $2,500,000
57 Welles Lane $2,600,000
219 Michigan Rd $2,676,750
In addition, there were also 5 condominium sales in New Canaan.
There are 208 homes currently on the market but there is another 20 homes that are pending or in contract ranging from $499,000 to $3,875,000 with a median listing price of $1,495,000.
I see some pressure from buyers who wish to purchase in the next few months as fears of mortgage interest rates rising cause buyers to act now. So for now, I see a markedly stronger sales market with lower inventory. If you are a seller thinking of selling your home this year, sooner is better than later as you will have less competition now, however, that will change as we get further into the spring and more sellers put their homes on the housing market.
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