Things are looking up in the New Canaan's residential real estate market.
Home sales took a turn for the better in 2012, according to a recent report in New Canaan-Darien Magazine, which reported 222 sales of single-family homes, based on data analyzed by Brotherhood & Higley.
The rebound—which would buck recent trends in town—is not only higher than the previous year's sales of 214 but a jump up from the 150 homes sold in 2009, the magazine says.
Though the overall market seems to be improving, it may be a buyer's market. The report also cites a continued depression in average sale prices, which were $1.69 million last year, down from $1.9 million in 2011, "a drop brokers attribute to the weakness in luxury properties," brokers told the magazine.
What's apparently helping sellers make deals is keeping their home up-to-date.
“We don’t have the choices we had a few years ago. There isn’t a lot of new construction,” Rita Kirby of William Pitt Sotheby’s told the magazine. That means buyers may be happy to pay for newly-installed granite countertops and other updated finishes.
To read the full story, click here.
