New Canaan, CT March 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 February 2026. You will see data comparisons between February and the previous month, the last three months and February 2025.
| Overview | YTD Avg. | February | January | Nov. – Jan. | Feb. 2025 |
|---|---|---|---|---|---|
| New Listings | 30 | 12 | 18 | 10 | 15 |
| Average Sales Price per Square Foot | 621 | 690 | 552 | 584 | 538 |
| Average Days on Market | 127 | 162 | 91 | 66 | 54 |
| Number of Properties for Sale | 69 | 32 | 37 | 35 | 43 |
| Average List Price | $4,134,103 | $4,021,559 | $4,246,646 | $4,240,427 | $4,572,279 |
| Median List Price | $3,083,750 | $2,972,500 | $3,195,000 | $3,128,333 | $3,849,000 |
| Average Sales Price | $3,815,945 | $4,650,000 | $2,981,889 | $3,170,441 | $3,679,875 |
| Median Sales Price | $3,750,000 | $4,300,000 | $3,200,000 | $3,000,000 | $3,050,000 |
| Sales Price / List Price Ratio | 100.32% | 99.48% | 101.16% | 101.82% | 99.47% |
| Number of Properties Sold | 13 | 4 | 9 | 13 | 8 |
| Month’s Supply of Inventory | 6.06 | 8 | 4.11 | 3.01 | 5.38 |
| Absorption Rate | 0.18 | 0.12 | 0.24 | 0.4 | 0.19 |
Average & Median Sales Price
The median sales price in February 2026 was $4,300,000, up 34.38% from $3,200,000 from the previous month and 40.98% higher than $3,050,000 from February 2025. The February 2026 median sales price was at its highest level compared to February 2025 and 2024. The average sales price in February 2026 was $4,650,000, up 55.94% from $2,981,889 from the previous month and 26.36% higher than $3,679,875 from February 2025. The February 2026 average sale price was at its highest level compared to February 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 February 2026 sales price/list price ratio was 99.48%, down from 101.16% from the previous month and equal to February 2025.
Number of Properties Sold & Absorption Rate
The number of properties sold in February 2026 was 4, down -55.56% from 9 from the previous month and -50.0% lower than 8 from February 2025. The February 2026 sales were at its lowest level compared to February 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 February 2026 was 162 days, up 78.02% from 91 days from the previous month and 200% higher than 54 days from February 2025. The February 2026 DOM was at its highest level compared with February 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 February 2026 was $690, up 25.00% from $552 from the previous month and 28.25% higher than $538 from February 2025.
Inventory & MSI
The number of properties for sale in February 2026 was 32, down -13.51% from 37 from the previous month and -25.58% lower than 43 from February 2025. The February 2026 inventory was at its lowest level compared with February 2025 and 2024. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The February 2026 MSI of 8 months was at a mid level compared with February 2025 and 2024.
New Listings
The number of new listings in February 2026 was 12, down -33.33% from 18 from the previous month and -20.0% lower than 15 from February 2025. The February 2026 listings were at its lowest level compared to February 2025 and 2024.
Judy Michaelis
Prefer the quick version? Here’s a snapshot of the February 2026 New Canaan Market Update:
Record-high pricing — Median sales price at $4.3M, up 34% from January and up 41% year-over-year, at highest level in 3 years. Average sales price at $4.65M, up 56% monthly and up 26% yearly, also at 3-year high. Price/sq ft at $690, up 25% monthly and up 28% yearly.
⏳ Market pace slowing sharply — Average days on market at 162 days, up 78% from January’s 91 and up 200% from last year’s 54 days. Highest February DOM in 3 years.
📈 Inventory tightening — Only 32 homes for sale, down 14% from January and down 26% from last year, lowest February level in 3 years. Months supply at 8, at mid-level compared to prior years.
📉 Volume at 3-year low as listings decline — 4 homes closed, down 56% from January’s 9 and down 50% from last year’s 8, lowest February count in 3 years. New listings at 12, down 33% monthly and down 20% YoY to lowest level historically.
What Buyers and Sellers Need to Know
✨ Sellers: Record pricing with median up 41% YoY and price/sq ft up 28% YoY signals exceptional value, despite 162-day DOM requiring patience and precise pricing to attract limited active buyers.
🔍 Buyers: Inventory at 3-year low (-26% YoY) with only 4 closings signals a very thin market, though sale-to-list at 99.48% offers modest negotiating room just below asking price.
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