Home sales and prices in New Canaan picked up this spring, compared with a year ago. The number of houses sold rose by 6.1 percent in the three months ending in July, according to Trulia.com. The median price clocked in at $1,297,500 up nearly 30 percent from the previous quarter and up 5.4 percent from the same time last year.
The median is the midpoint. The same number of houses sold above that price as sold below it. A rising median means that more homes are being sold at higher prices than in the previous period. The stronger the increase, the better the market.
The New Canaan market has a way to go before before closing the bad years out. The median price still lies 9.1 percent below its twin 2007 and 2008 peaks. Sellers have gotten the message from their Realtors. To move a house, don't push the envelope too much. New listing prices in New Canaan are staying relatively flat.
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