The big news is 24 houses sold in October, up from a normal of 11 or 12 each of the last 3 years. You have to go back to the late 90’s to see an October like this one. Will it be enough? We are 22 house sales behind where we were at this time last year (235 vs 213) but the condo sales are up by 16 (59 vs 43). Looking at the crystal ball a moment, we see the gap will be made up by new pending sales which jumped by 7 in October (24 vs. 17) We predict we will end the year even with last year.
How about the rest of the towns around us? Wilton, Greenwich and Stamford are experiencing a similar 10% decrease in sales volume (but Wilton has not seen the corresponding uptick in prices). Darien’s volume is merely flat amid modest pricing gains. Rowayton stands out in the county with double digit gains in both volume and prices.
Below is a link to our New Canaan Market Report recapping October and the first 10 months of 2014. If you would like to call and discuss the report, or if you would like a price opinion on your house, feel free to let us know.