Cherry Trees in bloom at Mead Park in New Canaan
As April has come to a close, it is a good time to compare this year's activity against last year. The good news is that there are 35 properties that are pending in New Canaan right now including 3 of my listings (12 Ludlowe Rd, 109 Sagamore Trial and 599 North Wilton Rd, which means 35 soon to be closings. The homes that are pending range from a low of $749,000 to a high of $8,195,000 with a median price of $1,465,000. Interesting to note that the $8,195,000 listing was only on the market for a little over one month before it went pending. It is a fabulous property listed by Brotherhood and Higley with over 10,000 square feet of living space and over 6 acres of waterviews looking over the reservior. The home was custom built in 1995 by Hobbs and it is really spectacular. But even more interesting is that it bindered so quickly, which means that there are still some very high end buyers out there.
There were 12 sales in April ranging from $500,000 to $2,550,000 with an average sales price of $1,491,633. These homes were on the market for an average of 221 days and sold for 94.3% of asking price. If these statistics don't seem too impressive, they look a lot better that April 2009 where there were only 6 sales with an average price of $1,309,000 which took an average of 271 days to sell.
Currently there are 262 homes on the market ranging from $550,000 to $24,000,000. We will see what activity May will bring.
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