New Canaan, CT October 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 September 2025. You will see data comparisons between September and the previous month, the last three months and September 2024.
| Overview | YTD Avg. | September | August | Jun. – Aug. | Sep. 2024 |
|---|---|---|---|---|---|
| New Listings | 220 | 24 | 18 | 23 | 23 |
| Average Sales Price per Square Foot | 581 | 597 | 607 | 597 | 420 |
| Average Days on Market | 50 | 31 | 50 | 36 | 76 |
| Number of Properties for Sale | 450 | 51 | 48 | 53 | 70 |
| Average List Price | $4,305,184 | $4,262,606 | $4,257,979 | $4,036,648 | $3,715,086 |
| Median List Price | $3,426,667 | $3,499,000 | $3,097,000 | $3,004,833 | $3,595,000 |
| Average Sales Price | $2,978,339 | $3,061,800 | $2,914,071 | $3,006,656 | $2,038,001 |
| Median Sales Price | $2,549,881 | $2,500,000 | $2,525,000 | $2,538,667 | $1,600,007 |
| Sales Price / List Price Ratio | 104.05% | 105.41% | 101.91% | 105.04% | 100.87% |
| Number of Properties Sold | 161 | 11 | 35 | 27 | 5 |
| Month’s Supply of Inventory | 3.3 | 4.64 | 1.37 | 2.03 | 14 |
| Absorption Rate | 0.36 | 0.22 | 0.73 | 0.53 | 0.07 |
Average & Median Sales Price
The median sales price in September 2025 was $2,500,000, equal to the previous month and 56.25% higher than $1,600,007 from September 2024. The September 2025 median sales price was at a mid level compared to September 2024 and 2023.
The average sales price in September 2025 was $3,061,800, up 5.07% from $2,914,071 from the previous month and 50.24% higher than $2,038,001 from September 2024. The September 2025 average sale price was at its highest level compared to September 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 September 2025 sales price/list price ratio was 105.41%, up from 101.91% from the previous month and up from 100.87% from September 2024.
Number of Properties Sold & Absorption Rate
The number of properties sold in September 2025 was 11, down -68.57% from 35 from the previous month and 120.0% higher than 5 from September 2024. The September 2025 sales were at its highest level compared to September 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 September 2025 was 31 days, down -38.00% from 50 days from the previous month and -59.21% lower than 76 days from September 2024. The September 2025 DOM was at its lowest level compared with September 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 September 2025 was $597, down -1.65% from $607 from the previous month and 42.14% higher than $420 from September 2024.
Inventory & MSI
The number of properties for sale in September 2025 was 51, up 6.25% from 48 from the previous month and -27.14% lower than 70 from September 2024. The September 2025 inventory was at its lowest level compared with September 2024 and 2023.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The September 2025 MSI of 4.64 months was at its lowest level compared with September 2024 and 2023.
New Listings
The number of new listings in September 2025 was 24, up 33.33% from 18 from the previous month and 4.35% higher than 23 from September 2024. The September 2025 listings were at a mid level compared to September 2024 and 2023.
Judy Michaelis
Prefer the quick version? Here's a snapshot of the September 2025 New Canaan Market Update:
🏠 Home prices surge dramatically – Median sales price held at $2.5M, matching August, and jumped 56% from last year's $1.6M. Average sales price reached $3.06M, up 50% year-over-year. Strongest annual gains in comparison periods.
⏱️ Homes selling remarkably fast – Average days on market plunged to just 31 days, down 38% from August's 50 days and 59% faster than last year's 76 days. Lowest selling time on record for recent periods.
📊 Inventory slightly up but constrained – 51 homes available, up 6% from August's 48 but down 27% from last year's 70. Supply remains tight despite month-over-month increase.
📉 Sales volume drops sharply – Only 11 homes sold, down 69% from August's 48 sales, though up 120% from last year's meager 5 transactions. Significant month-to-month decline despite strong annual comparison.
What Buyers and Sellers Need to Know
✨ Sellers: Premium market with median at $2.5M and homes selling in just 31 days. Volume dropped to 11 sales creating extreme seller's market conditions.
🔍 Buyers: Minimal competition with only 11 transactions but limited inventory of 51 homes. Properties selling lightning-fast at 31 days despite 69% drop in volume.
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