New Canaan, CT February 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 for January 2026. You will see data comparisons between January and the previous month, the last three months and January 2025.
| Overview | YTD Avg. | January | December | Oct. – Dec. | Jan. 2025 |
|---|---|---|---|---|---|
| New Listings | 16 | 16 | 1 | 10 | 22 |
| Average Sales Price per Square Foot | 552 | 552 | 593 | 606 | 550 |
| Average Days on Market | 91 | 91 | 38 | 59 | 84 |
| Number of Properties for Sale | 32 | 32 | 30 | 37 | 42 |
| Average List Price | $4,276,434 | $4,276,434 | $4,214,097 | $3,997,330 | $4,518,976 |
| Median List Price | $3,145,000 | $3,145,000 | $3,072,500 | $2,981,667 | $3,822,000 |
| Average Sales Price | $2,981,889 | $2,981,889 | $3,325,600 | $3,260,763 | $2,333,294 |
| Median Sales Price | $3,200,000 | $3,200,000 | $3,100,000 | $2,783,333 | $1,660,000 |
| Sales Price / List Price Ratio | 101.16% | 101.16% | 105.48% | 101.08% | 97.91% |
| Number of Properties Sold | 9 | 9 | 20 | 17 | 17 |
| Month’s Supply of Inventory | 3.56 | 3.56 | 1.5 | 2.29 | 2.47 |
| Absorption Rate | 0.28 | 0.28 | 0.67 | 0.49 | 0.4 |
Average & Median Sales Price
The median sales price in January 2026 was $3,200,000, up 3.23% from $3,100,000 from the previous month and 92.77% higher than $1,660,000 from January 2025. The January 2026 median sales price was at its highest level compared to January 2025 and 2024. The average sales price in January 2026 was $2,981,889, down -10.34% from $3,325,600 from the previous month and 27.80% higher than $2,333,294 from January 2025. The January 2026 average sale price was at its highest level compared to January 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 January 2026 sales price/list price ratio was 101.16%, down from 105.48% from the previous month and up from 97.91% from January 2025.
Number of Properties Sold & Absorption Rate
The number of properties sold in January 2026 was 9, down -55.00% from 20 from the previous month and -47.06% lower than 17 from January 2025. The January 2026 sales were at its lowest level compared to January 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 January 2026 was 91 days, up 139.47% from 38 days from the previous month and 8.33% higher than 84 days from January 2025. The January 2026 DOM was at a mid level compared with January 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 January 2026 was $552, down -6.91% from $593 from the previous month and equal to January 2025.
Inventory & MSI
The number of properties for sale in January 2026 was 32, up 6.67% from 30 from the previous month and -23.81% lower than 42 from January 2025. The January 2026 inventory was at its lowest level compared with January 2025 and 2024. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The January 2026 MSI of 3.56 months was at a mid level compared with January 2025 and 2024.
New Listings
The number of new listings in January 2026 was 16, up 1500% from 1 from the previous month and -27.27% lower than 22 from January 2025. The January 2026 listings were at its lowest level compared to January 2025 and 2024.
Judy Michaelis
Prefer the quick version? Here's a snapshot of the January 2026 New Canaan Market Update:
🏠 Dramatic pricing surge – Median sales price at $3.2M, up 3% from December and soaring 93% year-over-year to highest level ever. Average sales price at $3.0M, down 10% monthly but up 28% YoY, also at highest level historically. Price/sq ft at $552, down 7% monthly but matching last year.
⏳ Market pace slowing significantly – Average days on market jumped to 91 days, up 139% from December's rapid 38 days and up 8% from last year's 84 days. Mid-level pace indicates market normalization from December's unusual velocity.
📈 Limited but improving inventory – 32 homes for sale, up 7% from December but down 24% from last year. Lowest inventory level historically. Months supply at 3.56, up from December's 1.5 but mid-level compared to recent years.
📉 Volume collapse after December surge – Only 9 homes closed, down 55% from December's 20 and down 47% from last year's 17. Lowest sales volume historically. New listings at 16, up from December's single listing but down 27% YoY to lowest level.
What Buyers and Sellers Need to Know
✨ Sellers: Mixed conditions with record pricing ($3.2M median, +93% YoY) and homes still trading above asking (101% ratio), but market transitioning from December's heat. Slower pace (91 days) and volume decline (-55% MoM) suggest seasonal correction after exceptional December.
🔍 Buyers: Ultra-luxury market ($552/sq ft) with extreme YoY price appreciation but monthly softening signals opportunity. 3.56-month supply (mid-level) offers more selection than recent months. December's 20 sales demonstrates buyer interest exists at current pricing despite January's slowdown.
Want Personalized Advice?
Have thoughts or questions? Let me know what you think!
Feel free to reach out anytime—and don’t forget to like and subscribe for more updates on the Weston market!
