New Canaan, CT June 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 May 2026. You will see data comparisons between May and the previous month, the last three months and May 2025.
| Overview | YTD Avg. | May | April | Feb. – Apr. | May 2025 |
|---|---|---|---|---|---|
| New Listings | 118 | 30 | 39 | 23 | 38 |
| Average Sales Price per Square Foot | 627 | 612 | 681 | 657 | 598 |
| Average Days on Market | 105 | 104 | 95 | 110 | 81 |
| Number of Properties for Sale | 182 | 37 | 39 | 36 | 56 |
| Average List Price | $4,058,033 | $3,970,486 | $3,829,615 | $4,039,710 | $4,461,900 |
| Median List Price | $3,006,800 | $2,895,000 | $2,799,000 | $2,998,000 | $3,750,000 |
| Average Sales Price | $3,551,388 | $3,258,580 | $3,580,667 | $3,838,824 | $3,189,844 |
| Median Sales Price | $3,226,814 | $2,910,398 | $3,045,000 | $3,341,224 | $2,997,500 |
| Sales Price / List Price Ratio | 101.37% | 100.93% | 103.29% | 101.59% | 104.96% |
| Number of Properties Sold | 65 | 10 | 25 | 15 | 16 |
| Month’s Supply of Inventory | 4.23 | 3.7 | 1.56 | 4.4 | 3.5 |
| Absorption Rate | 0.37 | 0.27 | 0.64 | 0.45 | 0.29 |
Average & Median Sales Price
The median sales price in May 2026 was $2,910,398, down -4.42% from $3,045,000 from the previous month and -2.91% lower than $2,997,500 from May 2025. The May 2026 median sales price was at a mid level compared to May 2025 and 2024. The average sales price in May 2026 was $3,258,580, down -9.00% from $3,580,667 from the previous month and 2.15% higher than $3,189,844 from May 2025. The May 2026 average sale price was at its highest level compared to May 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 May 2026 sales price/list price ratio was 100.93%, down from 103.29% from the previous month and down from 104.96% from May 2025.
Number of Properties Sold & Absorption Rate
The number of properties sold in May 2026 was 10, down -60.0% from 25 from the previous month and -37.50% lower than 16 from May 2025. The May 2026 sales were at its lowest level compared to May 2025 and 2024. Absorption rate is the average 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 a seller’s market. The DOM for May 2026 was 104 days, up 9.47% from 95 days from the previous month and 28.40% higher than 81 days from May 2025. The May 2026 DOM was at its highest level compared with May 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 May 2026 was $612, down -10.13% from $681 from the previous month and 2.34% higher than $598 from May 2025.
Inventory & MSI
The number of properties for sale in May 2026 was 37, down -5.13% from 39 from the previous month and -33.93% lower than 56 from May 2025. The May 2026 inventory was at its lowest level compared with May 2025 and 2024. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The May 2026 MSI of 3.7 months was at a mid level compared with May 2025 and 2024.
New Listings
The number of new listings in May 2026 was 30, down -23.08% from 39 from the previous month and -21.05% lower than 38 from May 2025. The May 2026 listings were at their lowest level compared to May 2025 and 2024.
Judy Michaelis
Prefer the quick version? Here’s a snapshot of the May 2026 New Canaan Market Update:
🏠 Average sales price hits its highest May level in three years — Median came in at $2,910,398, near flat with May 2025’s $2,997,500. Average reached $3,258,580, its strongest May showing in the three-year window.
⏳ Homes taking longer to sell than anywhere else in Fairfield County — DOM rose to 104 days, up from May 2025’s 81. New Canaan buyers move deliberately — that’s the nature of this market.
📉 Inventory at its lowest May level in three years — Only 37 homes for sale, down 34% from May 2025’s 56. With an MSI of 3.7 months, selection is limited.
📊 Only 10 sales — but buyers still paid over asking — Down from April’s 25 closings, yet homes closed at 100.93% of list price. The market is slow but not soft.
What Buyers and Sellers Need to Know
✨ Sellers: Inventory is at a three-year low and values are holding firm near $3M. Precise pricing is what separates a quick close from a 100-day wait.
🔍 Buyers: With only 37 homes available, selection is thin. Take your time — but know that well-priced listings here still close above asking.
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