New Canaan, CT April 2026 Real Estate Market Report: Insights & Forecast
Assembled by: Judy Michaelis, 203-247-5000
Market Trends Report
Overview
The overview below shows real estate activity from January 2026 to March 2026. You will see data comparisons between March and the previous month, the last three months and March 2025.
| Overview | YTD Avg. | March | February | Dec. – Feb. | Mar. 2025 |
|---|---|---|---|---|---|
| New Listings | 49 | 15 | 16 | 12 | 25 |
| Average Sales Price per Square Foot | 614 | 599 | 690 | 612 | 576 |
| Average Days on Market | 108 | 70 | 162 | 97 | 33 |
| Number of Properties for Sale | 100 | 23 | 39 | 36 | 47 |
| Average List Price | $4,296,271 | $4,735,957 | $3,952,305 | $4,164,101 | $4,685,828 |
| Median List Price | $3,398,000 | $4,099,000 | $2,950,000 | $3,096,667 | $3,750,000 |
| Average Sales Price | $3,634,248 | $3,270,855 | $4,650,000 | $3,652,496 | $2,419,332 |
| Median Sales Price | $3,385,612 | $2,656,836 | $4,300,000 | $3,533,333 | $2,350,432 |
| Sales Price / List Price Ratio | 100.96% | 102.25% | 99.48% | 102.04% | 106.44% |
| Number of Properties Sold | 29 | 16 | 4 | 11 | 10 |
| Month’s Supply of Inventory | 5.14 | 1.44 | 9.75 | 5.17 | 4.7 |
| Absorption Rate | 0.35 | 0.7 | 0.1 | 0.33 | 0.21 |
Average & Median Sales Price
The median sales price in March 2026 was $2,656,836, down -38.21% from $4,300,000 from the previous month and 13.04% higher than $2,350,432 from March 2025. The March 2026 median sales price was at its highest level compared to March 2025 and 2024. The average sales price in March 2026 was $3,270,855, down -29.66% from $4,650,000 from the previous month and 35.20% higher than $2,419,332 from March 2025. The March 2026 average sale price was at its highest level compared to March 2025 and 2024.
Sales Price / List Price Ratio
The sales price/list price ratio is the average sale price divided by the average list price for sold properties expressed as a percentage. If it is above 100%, homes are selling for more than the list price. If it is less than 100%, homes are selling for less than the list price. The March 2026 sales price/list price ratio was 102.25%, up from 99.48% from the previous month and down from 106.44% from March 2025.
Number of Properties Sold & Absorption Rate
The number of properties sold in March 2026 was 16, up 300% from 4 from the previous month and 60.0% higher than 10 from March 2025. The March 2026 sales were at its highest level compared to March 2025 and 2024. Absorption rate is the avg number of sales per month divided by the total number of available properties.
Average Days on Market
The average days on market (DOM) is the number of days a property is on the market before it sells. An upward trend in DOM tends to indicate a move towards a buyer’s market, a downward trend tends to indicate a move towards seller’s market. The DOM for March 2026 was 70 days, down -56.79% from 162 days from the previous month and 112.12% higher than 33 days from March 2025. The March 2026 DOM was at its highest level compared with March 2025 and 2024.
Average Sales Price per Square Foot
The average sales price per square foot is a more normalized indicator for the direction of property value. The sales price per square foot in March 2026 was $599, down -13.19% from $690 from the previous month and 3.99% higher than $576 from March 2025.
Inventory & MSI
The number of properties for sale in March 2026 was 23, down -41.03% from 39 from the previous month and -51.06% lower than 47 from March 2025. The March 2026 inventory was at its lowest level compared with March 2025 and 2024. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The March 2026 MSI of 1.44 months was at its lowest level compared with March 2025 and 2024.
New Listings
The number of new listings in March 2026 was 15, down -6.25% from 16 from the previous month and -40.0% lower than 25 from March 2025. The March 2026 listings were at its lowest level compared to March 2025 and 2024.
Judy Michaelis
Prefer the quick version? Here’s a snapshot of the March 2026 New Canaan Market Update:
🏠 Prices rebound to new three-year highs – Average sales price came in at $3,270,855, up 35.20% from last March’s $2,419,332. Median reached $2,656,836, up 13.04% year-over-year — both at their highest levels compared to March 2025 and 2024.
⏳ DOM snaps back sharply after February spike – Average days on market fell to 70 days, down 56.79% from February’s 162 and still at its highest level compared with March 2025 and 2024. Homes are closing at a 102.25% sale-to-list ratio, up from February’s 99.48%.
📉 Inventory collapses to a three-year low – 23 homes for sale, down 41.03% from February’s 39 and down 51.06% from last March’s 47. MSI of 1.44 months is at its lowest level compared with March 2025 and 2024.
📊 Sales surge to highest level in three years – 16 homes closed, up 300% from February’s 4 and up 60% from last March’s 10. New listings dipped slightly to 15, down 6.25% from February and down 40% from last March’s 25 — still at their lowest level in three years.
What Buyers and Sellers Need to Know
✨ Sellers: With only 23 homes on the market and sales at a three-year high, this is one of the strongest selling windows New Canaan has seen. Prices are at their highest March level in three years and homes are closing above asking.
🔍 Buyers: A 1.44-month supply is razor thin — when the right home appears, hesitation is costly. The 16 closings this March show that motivated, well-prepared buyers are successfully navigating this market.
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