Is New Canaan, CT 06840 a buyer’s or seller’s market?

The New Canaan housing market right now

In the three months ending August 31, 2026, 75% of homes in New Canaan, CT 06840 sold above their list price, the typical home went under contract in 18 days and there were 1.2 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 114 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 54%, homes sold faster (22 days then) and the median sale price rose 5% to $2,423,951. Overall, New Canaan is more competitive than a year ago, so tougher for buyers.

Within Fairfield County, homes here sell faster than in 89% of the county’s ZIP codes, and sell more often over asking than in 93%. On our competition score, New Canaan ranks #10 of 197 CT ZIP codes with enough sales (score 96 out of 100).

Nearby, buyers who want less competition could look at Bridgeport 06605 (25% sold over asking) or Sherman 06784 (31% sold over asking), while Wilton 06897 (83% sold over asking) and Stamford 06906 (78% sold over asking) are even more competitive.