Luxury Home Buying Report In Connecticut

We analyzed all home sales in Connecticut for 2022 of over $2 million dollars or more to find the towns with the most "luxurious lawns" in the state.

First, we pulled all single-family home sales of $2M+ using Zillow data for last year in Connecticut.

Then, we organized the sales listings by zip code, to find the towns with the most home sales of $2M+.

Then, to adjust for population size differences, we pulled the latest census data for each town, and then came up with a population-adjusted metric to find the towns with the most luxury home sales per capita.

So without further ado, let’s see the results.

Here is a Summary of Our Key Findings:

  1. There were a total of 1,049 single-family home sales in Connecticut in 2022 of $2 million or more.
  2. Of those 1,049 sales, 379 of them (36%) were in Greenwich, which led the state by a wide margin. 
  3. Of these sales, the average sales price in Greenwich was $4.53 million, the only town with an average of more than $4 million.
  4. Westport came in 2nd place with 181 sales (17%) of $2M or more.
  5. Placing third was Darien, with 105 sales (10%).
  6. Right behind Darien was New Canaan, which saw 100 sales (10%) of $2M or more.
  7. Rounding out the top five in Connecticut was Fairfield, with 49 (5%) single-family homes selling for $2M or more.
  8. When adjusted for population size, Westport ranked #1, with 67 sales per 10,000 residents. 
  9. Greenwich placed 2nd in population-size-adjusted sales, with 60 sales of $2M+ per 10,000 residents.
  10. Tied for 3rd when adjusted for population size were Darien and New Canaan, which both saw 49 sales per 10,000 residents.
  11. And rounding out the top five when adjusted for population size was Weston, which saw 20 sales per 10,000 residents.

1,000+ Luxury Home Sales In Connecticut In 2022

Using Zillow data, we ran the numbers on "luxury" home sales in Connecticut for 2022.

Using a minimum of a $2 million sale as our benchmark, and looking only at single-family homes, there were 1,049 luxury home sales.

These ranged from sales just at $2 million, all the way up to a $25,000,000 sale in Greenwich.

In fact, of the top 10 highest sales in Connecticut, 9 of them were in Greenwich.

Greenwich Dominates The Luxury Home Market In Connecticut

To those familiar with the local market, it probably comes as no surprise that Greenwich had the most luxury home sales in the state last year.

In fact, the ritzy town accounted for 36% of Connecticut's luxury sales, clocking in at a staggering 379 sales of $2M or more.

Of these sales, the average sales price was $4.53 million.

These included sales at the following price points:

  • $25,000,000
  • $21,875,000
  • $17,616,666
  • $13,600,000
  • $12,800,000
  • $12,481,520
  • $12,350,000
  • $11,900,000
  • $11,770,000

In all, there were 13 sales in Greenwich alone that were for $10,000,000 or more, by far the most in the Nutmeg state. 

Westport Cements Its Status Amongst The Elite Coastal Towns

If Greenwich is the king of luxury real estate in Connecticut, then we have to say that Westport is the clear #2.

Westport accounted for an impressive 17% of the state's luxury home sales last year, with 181 single-family homes going for $2M+.

Of these sales, the average sales price was $3.75 million.

These included sales at the following price points:

  • $15,175,000
  • $11,400,000
  • $10,800,000
  • $9,700,000
  • $8,500,000
  • $7,600,000
  • $7,500,000
  • $7,500,000
  • $6,800,000
  • $6,700,000

In all, there were 3 sales in Westport that were for $10,000,000 or more, and 26 sales that went for $5,000,000 or more.

Darien & New Canaan Battle It Out For #3 In The State

When it comes to luxury home sales in Connecticut, the towns of Darien and New Canaan run neck-and-neck.

While Darien saw 105 sales of $2 million or more, New Canaan had 100, both representing 10% of all luxury home sales in the state.

Of these sales, the average amount was $3.46 million in Darien, and $3.24 in New Canaan. 

In all, there were 12 sales in Darien that were for $5,000,000 or more, while New Canaan saw 6 such sales.

When Adjusted For Population, Westport Tops Greenwich As Most Exclusive

We thought it would also be interesting to see how the total population of each town affected luxury home sales, and what would happen if we adjusted for the size of each town.

For example, when we compare the raw total sales between Greenwich and Westport, then Greenwich is the clear winner.

But Greenwich is also nearly 2 1/2 times the size of Westport in terms of population.

So we decided to run the numbers on a per-capita basis, or the number of luxury sales per 10,000 residents.

And when you account for population size, Westport actually comes out on top, ahead of Greenwich.

On a capita-adjusted basis, Westport saw 67 luxury single-family home sales per 10,000 residents in 2022, which was tops in the state.

Greenwich placed 2nd with 60 sales per 10,000 residents, while Darien and New Canaan tied for 3rd with 49 sales per 10,000 residents.