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.
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