New Canaan, CT May 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 April 2026. You will see data comparisons between April and the previous month, the last three months and April 2025.
| Overview | YTD Avg. | April | March | Jan. – Mar. | Apr. 2025 |
|---|---|---|---|---|---|
| New Listings | 86 | 37 | 15 | 16 | 28 |
| Average Sales Price per Square Foot | 631 | 681 | 600 | 614 | 589 |
| Average Days on Market | 106 | 95 | 74 | 109 | 53 |
| Number of Properties for Sale | 142 | 36 | 28 | 35 | 56 |
| Average List Price | $4,145,946 | $4,063,361 | $4,329,000 | $4,173,474 | $4,437,132 |
| Median List Price | $3,078,125 | $2,972,500 | $3,222,500 | $3,113,333 | $3,245,000 |
| Average Sales Price | $3,624,590 | $3,580,667 | $3,285,805 | $3,639,231 | $3,106,167 |
| Median Sales Price | $3,305,918 | $3,045,000 | $2,678,671 | $3,392,890 | $2,985,000 |
| Sales Price / List Price Ratio | 101.48% | 103.29% | 102% | 100.88% | 106.72% |
| Number of Properties Sold | 55 | 25 | 17 | 10 | 18 |
| Month’s Supply of Inventory | 4.33 | 1.44 | 1.65 | 5.29 | 3.11 |
| Absorption Rate | 0.41 | 0.69 | 0.61 | 0.32 | 0.32 |
Average & Median Sales Price
The median sales price in April 2026 was $3,045,000, up 13.68% from $2,678,671 from the previous month and 2.01% higher than $2,985,000 from April 2025. The April 2026 median sales price was at its highest level compared to April 2025 and 2024. The average sales price in April 2026 was $3,580,667, up 8.97% from $3,285,805 from the previous month and 15.28% higher than $3,106,167 from April 2025. The April 2026 average sale price was at its highest level compared to April 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 April 2026 sales price/list price ratio was 103.29%, up from 102% from the previous month and down from 106.72% from April 2025.
Number of Properties Sold & Absorption Rate
The number of properties sold in April 2026 was 25, up 47.06% from 17 from the previous month and 38.89% higher than 18 from April 2025. The April 2026 sales were at its highest level compared to April 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 April 2026 was 95 days, up 28.38% from 74 days from the previous month and 79.25% higher than 53 days from April 2025. The April 2026 DOM was at a mid level compared with April 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 April 2026 was $681, up 13.50% from $600 from the previous month and 15.62% higher than $589 from April 2025.
Inventory & MSI
The number of properties for sale in April 2026 was 36, up 28.57% from 28 from the previous month and -35.71% lower than 56 from April 2025. The April 2026 inventory was at its lowest level compared with April 2025 and 2024. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The April 2026 MSI of 1.44 months was at its lowest level compared with April 2025 and 2024.
New Listings
The number of new listings in April 2026 was 37, up 146.67% from 15 from the previous month and 32.14% higher than 28 from April 2025. The April 2026 listings were at a mid level compared to April 2025 and 2024.
Judy Michaelis
Prefer the quick version? Here’s a snapshot of the April 2026 New Canaan Market Update:
🏠 Prices at their highest April level in three years – Average sales price hit $3,580,667, up 15.28% from last April’s $3,106,167. Median rose to $3,045,000, up 2.01% year-over-year — both at their highest levels compared to April 2025 and 2024.
⏳ Homes closing above asking despite a longer runway – DOM came in at 95 days, at a mid level compared with April 2025 and 2024. Homes are still closing at 103.29% of asking, up from March’s 102% — a healthy premium for a luxury market.
📉 Inventory at a three-year April low – Just 36 homes for sale, down 35.71% from last April’s 56. The MSI of 1.44 months is at its lowest April level compared with April 2025 and 2024.
📊 Sales hit their highest April in three years – 25 homes closed, up 38.89% from last April’s 18. New listings surged 146.67% to 37 from March’s 15, though still at a mid level compared to prior Aprils.
What Buyers and Sellers Need to Know
✨ Sellers: With just 36 homes available — the fewest for any April in three years — and prices at a three-year high, conditions strongly favor listing now.
🔍 Buyers: Only 36 homes are on the market and they’re closing above asking. New Canaan moves deliberately, but the right home won’t wait.
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