Q2-2024
Q2-2024 MARKET REPORT
EXECUTIVE SUMMARY
The real estate market was marked by low inventory and rising property values during the second quarter of 2024. Demand continues to outpace supply in many communities, driving competitive bidding and notable price increases.
Seller reluctance to list, driven by a lack of inventory and hesitancy to trade their historically low interest rates, further fueled the listing shortage. Sellers remain firmly in the driver's seat, benefiting from favorable market conditions and the potential for significant returns on their investments. Proper pricing remains critical. Overinflated prices risk rejection from savvy buyers who prioritize value. Sellers are advised to strategically price properties to align with market realities and buyer expectations to achieve success.
As we enter the third quarter of 2024, Darien, Rowayton and New Canaan stand out as highly desirable destinations for buyers. Our communities offer natural beauty, diverse housing opportunities, and a pleasant quality of life.
With Warm Regards,
Liz Nunan President and CEO
QUARTERLY MARKET OVERVIEW
DARIEN
TEN-YEAR MARKET HISTORY
* Homes sold for 2024 are annualized based on actual sales year-to-date.
DARIEN
SUPPLY/DEMAND ANALYSIS
AS OF JUNE 30, 2024
SOLD PROPERTIES
$5,000,000
Source: Smart MLS, Darien, Single Family Homes, Sold
OF JUNE 30, 2023
QUARTERLY MARKET OVERVIEW
ROWAYTON
TEN-YEAR MARKET HISTORY
* Homes sold for 2024 are annualized based on actual sales year-to-date.
ROWAYTON
SUPPLY/DEMAND ANALYSIS
AS OF JUNE 30, 2024 AS OF JUNE 30, 2023
Source: Smart MLS, Rowayton, Single Family Homes, Sold
QUARTERLY MARKET OVERVIEW
NEW CANAAN
TEN-YEAR MARKET HISTORY
* Homes sold for 2024 are annualized based on actual sales year-to-date.
NEW CANAAN
SUPPLY/DEMAND ANALYSIS
AS OF JUNE 30, 2024 AS OF JUNE 30, 2023
SOLD PROPERTIES
Source: Smart MLS, New Canaan, Single Family Homes, Sold
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