a 4/1/2016 sample of current homes for sale in New Canaan showed overall declines of:
Property | Current Price | Original | Price Change |
727 Smith Ridge Road | $6,900,000 | $8,900,000 | -22.5% |
579 Frogtown Road | 4,295,000 | 5,800,000 | -25.9% |
354 South Avenue | 3,995,000 | 4,950,000 | -19.3% |
60 White Oak Shade d | 2,995,000 | 3,195,000 | -6.3% |
260 Lukes Wood Road | 2,699,000 | 2,899,000 | -6.9% |
117 S Bald Hill Road | 2,269,000 | 2,495,000 | -9.1% |
14 Gower Road | 2,195,000 | 2,650,000 | -17.2% |
99 Hickok Road | 1,995,000 | 2,195,000 | -9.1% |
43 Bartling Drive | 1,950,000 | 1,995,000 | -2.3% |
165 Old Norwalk Rd | 1,649,000 | 1,735,000 | -5.0% |
251 White Oak Shade | 1,329,000 | 1,395,000 | -4.7% |
116 Rocky Brook Road | 999,999 | 1,100,000 | -9.1% |
157 Weed Street | 975,000 | 1,050,000 | -7.1% |
128 Bald Hill Road | 927,900 | 959,000 | -3.2% |
PRICE CHANGES | $39,004,899 | $45,407,000 | -14.1% |
Homes over $4 million declined 22.6%, homes over $1 million declined 4%. The final sale price will be below these declines.
CONCLUSION: The erosion in home prices is particularly severe on high-priced homes. The actual sale price of these homes is not known, but will most likely show further reductions.
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