New Canaan CT Housing Market Update Eric Radecki Coldwell Banker Realty

If you’re a homeowner in New Canaan, CT, the latest housing numbers should grab your attention. Single-family home prices have surged, with the average sales price now around $2,954,842, up 19% from a year ago. This kind of double-digit appreciation means sellers are receiving significantly more money for their homes than they would have just a year prior. It’s clear that New Canaan’s market has shifted firmly in favor of sellers, and homeowners have an opportunity to capitalize on these high prices.

What’s driving these impressive gains? Limited supply and high buyer demand are creating competitive conditions that push prices upward. Homes in New Canaan aren’t just selling for more money in many cases, they’re selling above the asking price. The average list-to-sales price ratio (the percentage of the listing price that homes actually sell for) has climbed into record territory, now standing well above 100% on average. In fact, buyers are paying roughly 2% more relative to list price than they did last year an unmistakable sign of bidding wars and competition. In recent months, homes have sold for approximately 106% to 107% of their list prices on average. Translation: many sellers are getting over the full asking price for their properties.

Meanwhile, the luxury segment of the market is thriving. Not only are sold prices up, but asking prices for active listings have also risen. The average list price of homes currently on the market is about $4,494,998, which is roughly 10.9% higher than the average a year ago. Sellers are clearly confident about pricing, and buyers are validating it by snapping up high-end properties. Even ultra-luxury sales ($5M+) have accelerated proof that strength is present at the very top of the market.

Why the Market Favors New Canaan Sellers

• Steep Price Growth: Home values have grown dramatically, boosting sellers’ equity and enabling stronger asking prices.
• Sales Above Asking: Homes are selling at or above list price on average. Bidding wars are common in well-priced segments.
• High-End Market Confidence: Luxury sellers are pricing homes higher—and the market is supporting those numbers.
• Low Inventory, High Demand: With fewer homes on the market and strong buyer interest, sellers face less competition and stronger offers.
• Record Luxury Activity: The $5M+ market is growing in volume, indicating strong demand at the top end.

What This Means for You as a Seller

All these factors add up to a fantastic window of opportunity for homeowners thinking about selling. New Canaan’s market is hotter than it’s been in years and as a seller, you stand to maximize your return in this environment. Properties are moving quickly and for exceptional prices, often with competitive bidding involved. If you’ve been on the fence about listing your home, now is the time to seriously consider it.

Bottom line: In today’s market, New Canaan sellers are truly in the driver’s seat. You can potentially achieve a record-high sale price for your home in a relatively short time frame. To get an updated valuation of your property or to discuss how to take advantage of these favorable conditions, reach out for a personalized consultation. With a strategic listing plan, proper pricing, and expert guidance, you could be the next homeowner to sell for top dollar.

Contact Eric Radecki luxury real estate agent affiliated with Coldwell Banker 170 Main Street New, Canaan CT 06840 for a free home value estimate. Call 475-245-4205 or go to ColdwellBankerLuxuryHome.com