A new year and a new market. Sales for January totaled 266, a 30% decrease from December. Since actual closings reflect activity from the previous two months, and November and December have typically low activity, January sales are often down. As 2022 progresses, sales are expected to rise. Despite the decrease in sales across most towns, New Cannan sales were up and Wilton sales remained level. Time to sell a home remains at an average of about 50 days. In this area, sales above $2.0 million accounted for about 18% of the total, and sales below $1.0 million accounted for about 53% of the total. Inventory was unusually low in 2021 and is typically lowest in January. As we get into the Spring market, inventory levels will rise, but it is yet to be seen if we reach more normal levels or remain low.
Information obtained from SmartMLS.
