New Canaan, CT November 2025 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 2025 to October 2025. You will see data comparisons between October and the previous month, the last three months and October 2024.
| Overview | YTD Avg. | October | September | Jul. – Sep. | Oct. 2024 |
|---|---|---|---|---|---|
| New Listings | 236 | 15 | 24 | 20 | 19 |
| Average Sales Price per Square Foot | 584 | 623 | 584 | 594 | 515 |
| Average Days on Market | 52 | 67 | 33 | 40 | 59 |
| Number of Properties for Sale | 497 | 41 | 56 | 52 | 69 |
| Average List Price | $4,240,922 | $3,823,315 | $4,105,355 | $4,182,938 | $3,977,725 |
| Median List Price | $3,284,000 | $2,850,000 | $3,147,000 | $3,047,000 | $3,495,000 |
| Average Sales Price | $2,995,665 | $3,175,500 | $3,037,900 | $3,102,755 | $2,425,524 |
| Median Sales Price | $2,555,893 | $2,522,500 | $2,587,500 | $2,551,167 | $2,149,000 |
| Sales Price / List Price Ratio | 103.48% | 99.07% | 104.74% | 104.38% | 104.67% |
| Number of Properties Sold | 182 | 20 | 12 | 23 | 21 |
| Month’s Supply of Inventory | 3.18 | 2.05 | 4.67 | 2.76 | 3.29 |
| Absorption Rate | 0.37 | 0.49 | 0.21 | 0.46 | 0.3 |
Average & Median Sales Price
The median sales price in October 2025 was $2,522,500, down 2.51% from $2,587,500 from the previous month and 17.38% higher than $2,149,000 from October 2024. The October 2025 median sales price was at its highest level compared to October 2024 and 2023. The average sales price in October 2025 was $3,175,500, up 4.53% from $3,037,900 from the previous month and 30.92% higher than $2,425,524 from October 2024. The October 2025 average sale price was at its highest level compared to October 2024 and 2023.
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 October 2025 sales price/list price ratio was 99.07%, down from 104.74% from the previous month and down from 104.67% from October 2024.
Number of Properties Sold & Absorption Rate
The number of properties sold in October 2025 was 20, up 66.67% from 12 from the previous month and 4.76% lower than 21 from October 2024. The October 2025 sales were at a mid level compared to October 2024 and 2023. 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 October 2025 was 67 days, up 103.03% from 33 days from the previous month and 13.56% higher than 59 days from October 2024. The October 2025 DOM was at its highest level compared with October 2024 and 2023.
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 October 2025 was $623, up 6.68% from $584 from the previous month and 20.97% higher than $515 from October 2024.
Inventory & MSI
The number of properties for sale in October 2025 was 41, down 26.79% from 56 from the previous month and 40.58% lower than 69 from October 2024. The October 2025 inventory was at its lowest level compared with October 2024 and 2023. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The October 2025 MSI of 2.05 months was at its lowest level compared with October 2024 and 2023.
New Listings
The number of new listings in October 2025 was 15, down 37.50% from 24 from the previous month and 21.05% lower than 19 from October 2024. The October 2025 listings were at a mid level compared to October 2024 and 2023.
Judy Michaelis
Prefer the quick version? Here's a snapshot of the October 2025 New Canaan Market Update:
🏠 Home prices holding relatively steady – Median sales price is $2.52M, down 2.51% from September's $2.59M, but up 17.38% from last year's $2.15M. Prices remain well above 2024 levels despite slight monthly dip.
⏳ Homes taking significantly longer to sell – Average days on market jumped to 67 days, up 103.03% from September's 33 days, and up 13.56% from last year's 59-day pace. Sharp slowdown in market velocity suggests seasonal shift.
📉 Inventory declining sharply – 41 homes for sale, down 26.79% from last month's 56, and down 40.58% from last year's 69. Severe inventory constraints creating seller's market conditions.
📈 Sales activity nearly flat year-over-year – 20 homes closed in October, up 66.67% from September's 12, but down 4.76% from last year's 21. Strong monthly rebound but slightly softer than last October.
What Buyers and Sellers Need to Know
✨ Sellers: Days on market doubled to 67, signaling seasonal cooling, but inventory at a 3-year low and prices up 17% year-over-year keep you in a strong position. Limited supply provides leverage despite the slower October pace.
🔍 Buyers: Extremely tight inventory with only 41 homes available, but the sharp increase in days on market suggests less competition and more negotiating room. Prices remain elevated vs. 2024, but the cooling pace favors patient buyers heading into winter.
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