Market Report DARIEN, ROWAYTON, NEW CANAANQ1-2022
EASTLAGRANGEVILLEDUTCHESSFISHKILLBREWSTERSPRINGCOLD CHAPPAQUASOMERS IRVINGTONARDSLEYBRIARCLIFFMANOR PLAINSWHITE NEW ROCHELLE YORKTOWN BEDFORD/POUND RIDGE SCARSDALE LARCHMONT BRONXVILLE YONKERSWESTCHESTERPUTNAMARMONKRYEKATONAHPELHAMMILLBROOKFAIRFIELD RHINEBECK GREENWICH DARIEN ROWAYTONRIVERSIDENEW CANAAN CROTON-ONHUDSON RIDGEFIELDNEWFAIRFIELD 1 ,4�0 + AGENTS. ONE SIMPLE MISSION. We hire the best agents in the business. Each brings a wealth of knowledge and expertise about their local communities. Each has their own style. What every agent shares is a commitment to service and Houlihan Lawrence’s legacy of leadership. WHITE GLOVE SERVICE. LOCAL EXPERTISE. A PASSION FOR GETTING RESULTS.
FIRST QUARTER 2022 EXECUTIVE SUMMARY
Looking forward to the second quarter and beyond, it seems unlikely that local markets will see a meaningful uptick in inventory soon. Potential sellers find it challenging to secure their next home, making it di cult to contemplate selling their current home. For those sellers who are able to bring their homes to market, this is undoubtedly one of the best times to sell we’ve ever seen.
At the same time, the supply of homes for sale is reaching all-time lows. While supply and demand are rarely balanced, the current situation in Darien, New Canaan, and Rowayton is something few of us in local real estate has ever experienced.
With historically low inventory, it is not surprising that our local markets are posting declines in closed sales volume – there are simply fewer homes to sell. While 2020 and 2021 both saw recordbreaking sales volumes, it seems likely that the pace of sales will slow unless the supply of homes for sale increases suddenly.
While the business media is abuzz with astounding stories of “bidding wars” and buyer euphoria, it is important to remember that most local sales took place below the seller’s stated asking price. Buyers are plentiful, but they remain somewhat price-sensitive in most cases. Well-priced listings can garner a ton of buyer attention, but overpriced listings can be overlooked.
With Warm Regards, Liz PresidentNunanand CEO
The first quarter of 2022 was marked by a continued increase in buyer demand across all local markets.
The low-supply/high-demand environment has created sti competition for the dwindling number of listings. Multiple o ers have pushed up median selling prices in all local markets. For example, in Darien, approximately 45% of first-quarter sales had a closing price above the property’s list price –the highest being $305,000 above the asking price.
HOULIHANLAWRENCE.COM 2022Q1 2021Q1 CHANGE% FULL2021YEAR FULL YEAR 2020 CHANGE% Homes Sold F ull Year Homes Sold Year -to-dat e PRICSALESMEDIANE SOLDHOMESOFNUMBER 0 $1,200$900,$600,$300,000000000,000$1,500,000 5040030200100000 2015 2016 2017 2018 2019 2020 2021 2022ytd20142013 277 268 286 250 305 262 276 437 422 darien 29 363 $1,350,000 $1,462,247 $1,442,500 $1,350,000 $1,425,000 $1,350,000 $1,240,000 $1,425,000 $1,642,000 $1,568,000 40 32 45 47 40 41 60 64 53 DARIEN TEN-YEAR MARKET HISTORY to%OnDaysPerAverageSaleAveragePricePriceSquareFootMarketSalePriceListPrice QUARTERLY MARKET OVERVIEW HOMES MEDIANSOLDSALE PRICE AVERAGE SALE PRICE AVERAGE PRICE/ SQUARE FOOT DAYS ON MARKET % SALE PRICE TO LIST PRICE $1,568,00053$2,059,353$54568100.96% $1,535,018$1,276,32564$45310797.33% -36.45%20.30%22.85%-17.19%34.16%3.72% NEWYORK NEW CANAANDARIEN ROWAYTON STAMFORD NORWALKWILTON to%OnDaysPerAverageSaleAveragePricePriceSquareFootMarketSalePriceListPrice$1,618,805$46812396.74% $1,619,782$47510997.46% $1,705,979$50410596.84% $1,673,647$49011096.68% $1,676,744$47712696.45% $1,603,743$45912295.58% $1,534,435$42914795.14% $1,655,525$44712497.06% $1,929,798$50670100.08% $2,059,353$54568101.03%
$1,642,000422$1,929,798$50670100.07% $1,425,000437$1,655,525$44712497.07% -43.55%16.57%15.23%-3.43%13.23%3.09%
HOULIHANLAWRENCE.COM AS OF MARCH 31, 2022 AS OF MARCH 31, 2021 2022 vs. 2021 3/31/221/1/22- 3/31/211/1/21- %CHANGE2022/2021 3/31/224/1/21- 4/1/20-3/31/21 %CHANGE DARIEN *Supply Demand Ratio Key 1-4: High Demand 5-6: Balanced 7-9: Low Demand 10+: Very Low Demand PRICE RANGE $0$5,000,000$3,000,000$2,500,000$2,000,000$1,500,000$1,000,000$700,000$500,000$499,999-$699,999-$999,999-$1,499,999-$1,999,999-$2,499,999-$2,999,999-$4,999,999andup 024973423 LISTINGSSUPPLY:ACTIVE 028784361 DEMAND:PENDINGSALES 0 Not 011111Valid3 DEMANDSUPPLY/RATIO* Market Totals 34 39 1 SUPPLY/DEMAND ANALYSIS 20241951716146 LISTINGSSUPPLY:ACTIVE 1618237815131 DEMAND:PENDINGSALES 621311111 DEMANDSUPPLY/RATIO* 112 83 1 CHANGE%LISTINGSIN CHANGE% PENDINGSIN -100.00%-60.00%-78.90%-62.50%-65.00%-57.10%-75.00%-85.70%-50.00% -100.00%0.00%14.30%-61.10%-50.00%-50.00%-80.00%-53.80%0.00% -69.60% -53.00% Source: SMLS Darien, Single Family Homes, Sold SOLD PROPERTIES Market Totals 53 64 -17.20% PRICE RANGE $0$5,000,000$3,000,000$2,500,000$2,000,000$1,500,000$1,000,000$700,000$500,000$499,999-$699,999-$999,999-$1,499,999-$1,999,999-$2,499,999-$2,999,999-$4,999,999andup 101013038522 241041125440 Not-100.00%-25.00%-20.00%-45.80%-16.70%0.00%-50.00%150.00%Valid 10251172883543649 13874214914235342 350.00%-50.00%-19.00%-31.10%-26.10%-3.30%-16.70%22.90%88.20% YEAR-TO-DATE 411 441 -6.80% YEAR-OVER-YEAR
HOULIHANLAWRENCE.COM 2022Q1 2021Q1 CHANGE% FULL2021YEAR FULL YEAR 2020 CHANGE% ROWAYTON TEN-YEAR MARKET HISTORY to%OnDaysPerAverageSaleAveragePricePriceSquareFootMarketSalePriceListPrice QUARTERLY MARKET OVERVIEW to%OnDaysPerAverageSaleAveragePricePriceSquareFootMarketSalePriceListPrice NEWYORK NEW CANAANDARIEN ROWAYTON STAMFORD NORWALKWILTON $1,135,079$3749995.18% $1,340,895$43911797.00% $1,273,027$43513695.60% $1,337,149$46414595.44% $1,379,318$45910995.08% $1,273,418$4469296.74% $1,276,696$43913996.13% Homes Sold F ull Year Homes Sold Year -to-dat e PRICSALESMEDIANE SOLDHOMESOFNUMBER 0 $1,200$900,$600,$300,000000000,000$1,500,000 5040030200100000 2015 2016 2017 2018 2019 2020 2021 2022ytd20142013 69 76 74 82 87 69 84 116 91 rowayton 12 60 $878,300 $979,750 $1,187,500 $1,205,000 $1,325,000 $975,000 $1,207,750 $1,217,000 $1,610,000 $934,500 8 14 15 15 11 11 17 20 10 $1,345,651$45311097.60% $1,774,300$5498099.78% $1,280,400$57757104.11% HOMES MEDIANSOLDSALE PRICE AVERAGE SALE PRICE AVERAGE PRICE/ SQUARE FOOT DAYS ON MARKET % SALE PRICE TO LIST PRICE $1,280,400$934,50010$57757104.11% $1,362,50020$1,517,356$49610198.85% -50.00%-31.41%-15.62%16.18%-43.56%5.32% $1,610,00091$1,774,300$5498099.78% $1,217,000116$1,345,651$45311097.60% -21.55%32.29%31.85%21.28%-27.27%2.23%
HOULIHANLAWRENCE.COM AS OF MARCH 31, 2022 AS OF MARCH 31, 2021 2022 vs. 2021 3/31/221/1/22- 3/31/211/1/21- %CHANGE2022/2021 3/31/224/1/21- 4/1/20-3/31/21 %CHANGE ROWAYTON SUPPLY/DEMAND ANALYSIS Source: SMLS, Rowayton, Single Family Homes, Sold *Supply Demand Ratio Key 1-4: High Demand 5-6: Balanced 7-9: Low Demand 10+: Very Low Demand PRICE RANGE $0$5,000,000$3,000,000$2,500,000$2,000,000$1,500,000$1,000,000$700,000$500,000$499,999-$699,999-$999,999-$1,499,999-$1,999,999-$2,499,999-$2,999,999-$4,999,999andup 011600130 LISTINGSSUPPLY:ACTIVE 000122742 DEMAND:PENDINGSALES Not 00311Valid1 Not Valid Not Valid DEMANDSUPPLY/RATIO* Market Totals 12 18 1 004521311 LISTINGSSUPPLY:ACTIVE 000133313 DEMAND:PENDINGSALES Not 2Valid1 Not 02Valid11 Not Valid DEMANDSUPPLY/RATIO* 17 14 1 CHANGE%LISTINGSIN CHANGE% PENDINGSIN -100.00%-50.00%-66.70%500.00%-100.00%-100.00%0.00%0.00%0.00% -100.00%100.00%-33.30%0.00%0.00%0.00%133.30%33.30%0.00% -29.40% 28.60% SOLD PROPERTIES Market Totals 10 20 -50.00% PRICE RANGE $0$5,000,000$3,000,000$2,500,000$2,000,000$1,500,000$1,000,000$700,000$500,000$499,999-$699,999-$999,999-$1,499,999-$1,999,999-$2,499,999-$2,999,999-$4,999,999andup 015210010 043315211 Not-100.00%-100.00%-100.00%-66.70%66.70%-50.00%-80.00%0.00%Valid 10161614170521 25114372312241 -100.00%-54.50%-32.00%-62.20%-30.40%33.30%0.00%150.00%0.00% YEAR-TO-DATE 81 119 -31.90% YEAR-OVER-YEAR
HOULIHANLAWRENCE.COM 2022Q1 2021Q1 CHANGE% FULL2021YEAR FULL YEAR 2020 CHANGE% NEW CANAAN QUARTERLY MARKET OVERVIEW NEWYORK NEW CANAANDARIEN ROWAYTON STAMFORD NORWALKWILTON TEN-YEAR MARKET HISTORY to%OnDaysPerAverageSaleAveragePricePriceSquareFootMarketSalePriceListPrice to%OnDaysPerAverageSaleAveragePricePriceSquareFootMarketSalePriceListPrice$1,661,172$38912395.55% $1,929,472$39012295.81% $1,783,190$40712696.14% $1,770,026$35614894.63% $1,713,202$35514794.72% $1,628,161$34213893.80% $1,424,860$31716493.42% Homes Sold F ull Year Homes Sold Year -to-dat e PRICSALESMEDIANE SOLDHOMESOFNUMBER 0 $1,200$900,$600,$300,000000000,000$1,500,000$1,800,000 7060504003020010000000277 250 251 194 255 217 248 390 440 new canaan 28 341 $1,425,000 $1,662,500 $1,517,500 $1,447,500 $1,475,000 $1,341,500 $1,238,750 $1,399,500 $1,725,000 $1,742,500 36 35 34 46 35 42 44 84 54 2015 2016 2017 2018 2019 2020 2021 2022ytd20142013 $1,670,517$33713796.07% $1,995,194$4008199.55% $1,931,841$4258099.10% HOMES MEDIANSOLDSALE PRICE AVERAGE SALE PRICE AVERAGE PRICE/ SQUARE FOOT DAYS ON MARKET % SALE PRICE TO LIST PRICE $1,742,50054$1,931,841$4258099.10% $1,587,50084$1,815,293$36811897.43% -32.20%-35.71%9.76%6.42%15.65%1.72% $1,725,000440$1,995,194$4008199.55% $1,399,500390$1,670,517$33713796.07% -40.88%23.26%12.82%19.44%18.78%3.62%
HOULIHANLAWRENCE.COM AS OF MARCH 31, 2022 AS OF MARCH 31, 2021 2022 vs. 2021 3/31/221/1/22- 3/31/211/1/21- %CHANGE2022/2021 3/31/224/1/21- 4/1/20-3/31/21 %CHANGE NEW CANAAN Source: SMLS, New Canaan, Single Family Homes, Sold SUPPLY/DEMAND ANALYSIS *Supply Demand Ratio Key 1-4: High Demand 5-6: Balanced 7-9: Low Demand 10+: Very Low Demand PRICE RANGE $0$5,000,000$3,000,000$2,500,000$2,000,000$1,500,000$1,000,000$700,000$500,000$499,999-$699,999-$999,999-$1,499,999-$1,999,999-$2,499,999-$2,999,999-$4,999,999andup 14004964611 LISTINGSSUPPLY:ACTIVE 003876972 DEMAND:PENDINGSALES Not Valid Not 6211111Valid DEMANDSUPPLY/RATIO* Market Totals 54 42 1 29270252112159 LISTINGSSUPPLY:ACTIVE 20006161410141 DEMAND:PENDINGSALES Not Valid Not 9221111Valid DEMANDSUPPLY/RATIO* 120 81 1 CHANGE%LISTINGSIN CHANGE% PENDINGSIN -100.00%0.00%-20.00%-66.70%-71.40%-66.70%-60.00%-51.70%22.20% 100.00%-60.00%-50.00%0.00%0.00%-56.30%-57.10%-10.00%-50.00% -55.00% -48.10% SOLD PROPERTIES Market Totals 54 84 -35.70% PRICE RANGE $0$5,000,000$3,000,000$2,500,000$2,000,000$1,500,000$1,000,000$700,000$500,000$499,999-$699,999-$999,999-$1,499,999-$1,999,999-$2,499,999-$2,999,999-$4,999,999andup 16025119560 19150317136110 Not Not-30.80%-66.70%-33.30%Valid-15.80%-35.30%-16.70%-45.50%Valid 10511323086242534 14467150884727393 Not-46.70%Valid-65.70%-21.50%19.30%31.90%55.60%35.90%33.33% YEAR-TO-DATE 410 430 -4.70% YEAR-OVER-YEAR
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