New Canaan, CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating New Canaan Neighborhoods Since 2000




New Canaan, CT Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

New Canaan Housing Market Information

With a population of 20,387, 6,857 total housing units (homes and apartments), and a median house value of $1,562,737, New Canaan house prices are not only among the most expensive in Connecticut, New Canaan real estate also is some of the most expensive in all of America.

New Canaan is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in New Canaan than is found in 98% of the communities in America.

The large homes that make up New Canaan are primarily owner-occupied ( 77.69%).

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. New Canaan's housing was primarily built during this period, from the '40s through the '60s. A full 40.37% of the town's housing hails from this era. Other housing ages represented in New Canaan include homes built between 1970-1999 ( 32.61%) and housing constructed before 1939 ( 15.88%). There's also some housing in New Canaan built between 2000 and later ( 11.14%).

New Canaan Home Appreciation Rates

Real estate appreciation rates in New Canaan's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.19% during the period.

Over the last year, New Canaan appreciation rates have trailed the rest of the nation. In the last twelve months, New Canaan's appreciation rate has been -0.89%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in New Canaan were at -1.81%, which equates to an annual appreciation rate of -7.04%.

Notably, New Canaan's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Connecticut, our data show that New Canaan's latest annual appreciation rate is lower than 60% of the other cities and towns in Connecticut.

Average Home Values

 

Median Home Value:
$1,562,737

New Canaan, CT HOME PRICES

Value Range
> $1,041,000 64.4
$781,001 - $1,041,000 14.5
$521,001 - $781,000 11.0
$416,001 - $521,000 2.5
$312,001 - $416,000 2.2
$208,001 - $312,000 3.3
$104,001 - $208,000 1.5
$52,001 - $104,000 0.1
$0 - $52,000 0.5

Very High for CT
Very High for Nation

Value Relative to Nation Value Relative to State
0.339857025665065 0.591715976331361

Number Of Homes And Apartments:
6,857

New Canaan Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
58.46% 2.70% 10 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,560 / per month

Homeownership Rate

Homeownership
Owners 77.69
Renters 22.31
Vacant 6.20

Housing Market Details

 

Age of Homes

AGE OF New Canaan HOMES
2000 or Newer 11.1
1970 - 1999 32.6
1940 - 1969 40.4
1939 or Older 15.9

Types of Homes

TYPE OF New Canaan HOMES
Single-Family 73.0
Townhomes 8.9
Small Apt. Buildings 9.4
Apt. Complexes 8.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF New Canaan HOMES
No Bedroom 0.21
1 Bedroom 5.09
2 Bedrooms 13.65
3 Bedrooms 21.72
4 Bedrooms 30.44
5 or more bedrooms 28.89