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NEW CANAAN REAL ESTATE | Market Stats from April 23-29 ... plus, Bidding Wars are Back?

A 'numbers' look at New Canaan's real estate market for April 23-29 ... including properties new to market and the status of our current inventory ... plus, "Are Bidding Wars Back?" - a WSJ excerpt.

New Canaan Real Estate Market Activity | April 23-29

Photos of new market offerings listed during the past week are shown above, and the statistics for market activity are outlined in the weekly charts below.

NEW SINGLE FAMILY RESIDENTIAL LISTINGS 

# of Properties 21 Listing Property Volume $49,514,500 Listing Property Median $  1,850,000

ACTIVE SINGLE FAMILY RESIDENTIAL LISTINGS

# of Properties 277 Listing Property Volume $640,938,149 Listing Property Median $    1,875,000 Average Days on Market 148

SINGLE FAMILY RESIDENTIAL LISTINGS UNDER CONTRACT

# of Properties 8 Pending Property Volume $   10,666,900 Pending Property Median $     1,847,450 Average Days on Market 38

SINGLE FAMILY RESIDENTIAL LISTINGS CLOSED

# of Properties    4 Closed Property Volume   $      8,778,000 Closed Property Median $      2,122,000 Average Days on Market 180

4 Single-Family Residential Property Transfers • Week of April 23

List $1,335,000 / Sold $1,285,000 . 259 Marvin Ridge Road . O'Halloran to Walden

List $1,949,000 / Sold $1,850,000 . 316 Mariomi Road . Hedley to o'Brien

List $2,295,000 / Sold $2,250,000 . 42 Orchard Drive . A Tomas Builders LLC to DePetris

List $3,195,000 / Sold $2,885,000 . 432 South Avenue . Dennis to Cooke

Source . NC FLEX MLS


Stunned Home Buyers Find the Bidding Wars Are Back

April 27, 2012 . The Wall Street Journal . brokerbeatNewCanaan edited and reblogged Nick Timiraos

A new development is catching home buyers off guard as the spring sales season gets under way: BIDDING WARS ARE BACK !

From California to Florida, many buyers are increasingly competing for the same house. Unlike the bidding wars that typified the go-go years and largely reflected surging sales, today's are a result of supply shortages.

Competitive bidding in the current environment isn't producing huge price increases or leaving sellers with hefty profits, as occurred during the housing boom. Still, the bidding wars caused by tight inventory provide the latest evidence that housing demand is starting to pick up after a six-year-long slump.

Despite the fact that our single family residential inventory, at 277 this week, is not low, New Canaan too is happily sharing in this recent trend ...

For the full article and a WSJ infographic please click here to go to my daily blog, www.brokerbeatNewCanaan.blogspot.com ...

 

Thank you for taking the time to read my column in Patch, new posts of 'brokerbeatNewCanaan on Patch' publish weekly on Friday mornings.

My very best, Regina

brokerbeatNewCanaan ... bringing real estate to life.

While I specialize in listing and selling New Canaan real estate, please know that all information contained herein is deemed reliable but is not guaranteed and should be independently verified. I would be happy to provide you with a free home evaluation, buying tips and strategies, and/or offer a subscription to 'Listing Book' which will provide you with daily MLS updates of properties currently listed, as well as inform you of properties that are new to market. Should you need that assistance, please call or text to 203.644.5025, or email to regina.brokerbeat@gmail.com.

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

Steve May 04, 2012 at 02:45 PM
The article never answers the headline's question from a New Canaan viewpoint, either here or in the author's linked promotional blog. I don't read Patch to see what's happening in California or Florida - I read it to find out what's going on in my community. I know that realtors try to put a positive spin on the market. It's not their fault, it's inherent to the job. But I would have hoped that your editors would have insisted on more clarity in this article.
Glen K Dunbar May 04, 2012 at 06:11 PM
if only I was able to live on my own and have my own place. System STINKS Glen
Glen K Dunbar May 04, 2012 at 07:27 PM
Steve: I would LOVE to live in CA or FL. Need sponsor !!!!!!!! Glen
Glen K Dunbar May 07, 2012 at 12:14 PM
ahhh again. Wish I had a nice condo in FL or AZ or CA. Maybe HI

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