The Engel Team
Move What Moves You
First Quarter 2020 Manhattan Market Report A Message from Halstead’s Chief Economist Greg Heym: For what it’s worth, the First Quarter 2020 Manhattan Market Report shows an improvement in both sales and prices of apartments compared to a year ago. The total number of closings was 9% higher than 2019’s first quarter, and the average […]
16 Individual Town Reports. To download full reports click on the town names. Or go to the bottom of the page. This month we looked at total dollar volume as an indicator of market health. Three towns stand out posting solid dollar volume numbers: Darien, Old Greenwich and Rowayton. The rest […]
16 Individual Town Reports. To download full reports click on the links at the bottom of the email. This is the 6 month report for Fairfield County. Good news: interest rates at record lows, 3% Bad news: there is little urgency among buyers Good news: budget skips tolls & regionalization Bad news: state budget […]
The Connecticut First Half 2019 Market Reports are now available in Pilot. You can find the template in the Promo Blast section, called “CT First Half 2019 Market Reports“. If you type “CT” in the search bar it will appear among the CT template selections. Just a reminder, quarterly reports include an additional page for each town’s absorption rates for houses, and a page on absorption […]
Chairman’s View: Spoiler alert APRIL 11, 2019 BY JOHN ENGEL, CHAIRMAN, TOWN COUNCIL Spoiler alert: I really like New Canaan’s prospects. Here are five observations taken from the revaluation, the Town budget, the State election, and the first quarter real estate sales. There is a happy ending. 1. The uncertainty coming from Hartford is probably worse than […]
16 Individual Town Reports. To download full reports click on the links in-line and at the bottom. New Canaan – Closings are up 20% this quarter. Pending sales are down by the same amount. First quarter sales have dramatically increased for the past 3 years. 42 may be the new normal, up from 20 […]
Westport, a little less expensive at $1.33mm, suffers a little bit less, volume down 9% in October and 2% for the year with prices down only 7% for the year. Wilton where the average house is still under $800k (and condos under $400k), is seeing prices rise 4% (and 13%) for the year despite inventory levels rising […]
Friends! Find out the state of Connecticut real estate by clicking on the links to the right. Of note: * New Canaan July closings rebounded 7% August closings from 18 to 26, a 44% gain. * New Canaan annual $ volume was down 16%, now down 9.2%. Inventory up to 313. * Rowayton closings down 55% Median price down 32% this […]
Chairman’s View: Support a ban on house ‘for sale’ signs MAY 8, 2018 BY NEW CANAAN ADVERTISER The overwhelming majority of New Canaan citizens want to eliminate real estate signs. In a recent poll at the Advertiser Coffee 95% support a ban. They are a blight on our town. The signs would be gone except for the […]
This column is making good on a promise of transparency. As your bow-tie wearing Town Council Chairman, rarely accused of being shy, it’s my charge to let people know what is going on in New Canaan. Bankwell is quitting the residential mortgage business. Based on Bankwell’s tremendous history and visibility here in New Canaan (sponsoring […]
We are having a very good Fall market here in New Canaan, not just in comparison to 2016. This chart makes it apparent that 2014 and 2015 were exceptional years and that 13 sales is more typical. This chart of cumulative house and condo sales over the last ten years is a more […]
To download the entire market report as a PDF, click here. House closings: The 172 house closings in New Canaan over the first 8 months of 2017 is a 26.5% increase vs. the same time frame in 2016. The difference has been seen entirely in the under $2 million price point, where New […]
According to today’s New Canaan Advertiser: Home sales up 28% year-to-date; growth at points under $2 million I think that this feels a little optimistic and can be a bit misleading for a couple of reasons the comparisons are only made between this year and last year. 2016 was an unusual year with record levels of […]
First, notice how few listings there are at the end of January 2017. At the end of January we were down to a more reasonable 203 houses on the market, (still a bit higher than the 187 that sold during all of 2016) but down from the 225 exactly one year ago. The absorption rate […]
One of the subscribers to the New Canaan Market Report for October asked for a Wilton report. There is no such thing. So, I am going to write one right here, right now. First, here is a chart of the amount of inventory in Wilton over the last five years. With the exception of spikes […]
Friends, There has been plenty of hand-wringing this year about the state of the local real estate market, much of it justified. Sales volume dropped and prices were slow to react. An article in last month’s Atlantic Magazine attributed a soft suburban market throughout the northeast to the fact that we aren’t supplying what buyers want, […]
Richmond Hill Condo $754,000 new listing, under $1mm 29 Maple Street condo $799,000 high-style, new wow price Pride’s Crossing $888,000 walk to town, under $1mm 108 Toby’s Lane $1.295 NEW PRICE riverfront retreat 151 East Avenue $1.368 new listing, top-flight condo Windermere On the Lake $1.649 private 80 […]
34 Urban Street $739,000 new listing, 3 rental units, wow! Orchard Hills Condo $754,000 new listing, under $1mm Pride’s Crossing #9 $888,000 walk to town, under $1mm 29 Maple Street condo $799,000 high-style, new wow price 108 Toby’s Lane $1.350 private riverfront retreat 151 East […]
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