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Despite all of the snow and cold temperatures this winter, first quarter sales in New Canaan kept pace with 2014. We had 34 houses close in Q1 compared with 36 last year. Average price and median price are down a bit versus last year at this time, but it's too early to place a lot of weight on these figures. Inventory is building quickly now that the weather is warming.
Currently, there are 204 houses on the market versus 167 at this time last year. Homes in the
$2-4 million price range showed the biggest increase in inventory. We currently have 90 active listings in this price range versus 70 at this time last year. Condominium inventory remains very low as we continue to see strong demand in all price ranges. There are only 21 active condominium listings as of March 31st versus 35 at the end of the first quarter of 2014.
We are entering the busiest weeks of the season so now is a great time to list your home or condominium. We'll have a much better indication of what 2015 has in store as the second quarter progresses.
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