Market Summary: In 2018, New Canaan's year end, Single Family, home sales were down by 15.2% vs. 2017. The average sale price declined by 5.7%; and, the absorption rate (number of months it would take to sell all active listings in a given market) was up by 3.3% vs. 2017. One positive point of interest was the number of “pending” home sales in December 2018 (purchases not yet closed), which were up by 15.8%. Although this does little for 2018’s market, it does reflect a higher level of market interest as we move into the new year. Looking forward, we’ll find the first 3 months of 2019 will prove interesting and provide a stronger indicator of the market’s direction. In the meantime, with an absorption rate averaging 13.3%, New Canaan proves to be a strong buyer's market

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