New Canaan Market Trend
The current average list price for a single family home in New Canaan, CTÂ is $2,406,345. July's average sale price was $1,536,645. Based on this difference you may begin to think all houses in New Canaan are overprice. That's not necessarily true. In fact, the sale to list price ratio was over 95% for the month of July. What is causing the reduced average? It's simple. Many of the higher price homes were rented. These houses were often listed for sale AND rent. If a $4,000,000 house gets rented instead of sold, the house is removed from the system but the "for sale" statistic doesn't get removed.