The housing market in New Canaan continues to see strong price appreciation, with values up 100.7% compared to last year. Home prices have increased 8.6% in the past month alone. At the current pace, all available homes in New Canaan would sell out in just 0.7 months, indicating a continued supply shortage. Transaction volume is up 43% compared to what's typically expected this time of year. Only 0.0% of listings saw price reductions, suggesting sellers are confident in their pricing. Approximately 50.0% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the New Canaan market with the affordability index at 998.6. Based on current market indicators, home prices in New Canaan are projected to decrease by approximately 14.6% over the next month.