Barbara Corcoran on Today Show. "Now is the time to buy"

Barbara Corcoran, real estate guri extraordinaire, appeared on the Today Show this morning.  She had this advice for prospective buyers.  "Now is the time to jump in.  Real Estate prices are at a 9 year low and with cheap money, cheap prices, the time is now.  There is no way to tell where the bottom is, it is very hard to know but the best thing to do is to buy within the low and we are rumbling around the low right now".

There, you have heard it from the horses mouth.

New Canaan Home Prices Up according to Wall St Journal

The Wall St Journal reports New Canaan was one of the best performers in the real estate market last year Sales were up and the fourth quarter median price rose 11%.  "No one here is talking about a double dip" reports the Journal. Click on the link to read the article. http://online.wsj.com/article/SB10001424052748703775704576162724050814098.html?mod=googlenews_wsj

January Sales Prices are High in New Canaan

Even though we have been smothered in feet of snow this January as evidenced by the picture taken at Elm and Main Street showing the William Raveis Real Estate office during a snowstorm, the January closings have reached lofty prices.

9 properties have closed with a total selling volume of $20,958,500.  The average selling price is $2,328,722, the median selling price is $2,180,000 and the days on the market is 166.  Not a bad way to start the year. Let's see if this trend continues but with 25 additional homes pending or in contract it looks as if we will see some promising trends this winter.

The following properties have closed so far this year

1510 Ponus Ridge $1,300,000
12 Wellesley Drive $1,325,000
73 Hickok Road $1,385,000
68 Welles Lane $1,868,500
307 Oenoke Ridge $2,180,000
183 Turtleback Road $2,700,000
83 Gerrish Lane $3,000,000
26 Parkers Glen $3,450,000
402 Springwater Lane $3,750,000