By the third quarter of 2010, more homes had been sold in New Canaan than in all of 2009. Last year a total of 150 homes transferred hands. As of December 1, the 2010 total stood at 196, according to the New Canaan Multiple List Service.

And, as of December 20 there were 25 homes for which a buyer and seller had agreed on a price and were in the process moving towards a closing. So it seems likely that the number of homes sold in 2010 will exceed 200. That will represent at least a 30 percent increase in homes sold this year, compared to last.

Lawrence Sullivan of Halstead Property called 2010 a challenging market.

“Sellers were coming to terms with sale prices 25 to 30 percent below what they recognized their property values to be eighteen months ago,” he said.

As for buyers, he added that they, “responded to, for the most part, fair market values and took advantage of favorable interest rates.” While calling the fall market a “fizzle” he added that there continue to be active buyers in the market looking for value.

“The days of the McMansion have passed,’ he said. “The trend is smaller, with attention to detail and quality in 2011.”

Twenty-five home closings were held between Nov. 1 through Dec. 20. Following is a closer look at three of those transactions:

1668 Ponus Ridge Road: This, the highest priced home to sell since Nov. 1, was on the market for 279 days. Originally listed in April, 2009 for $3.395 million, the final selling price was $2.857 million. 

The colonial style home, which was completed earlier this year by Kaeser Homes, includes a total of almost 8,000 square feet. Marketed as an EnergyStar Certified Home, it sits on two acres at the northernmost end of Ponus Ridge and according to its listing information includes, “nine foot ceilings, beautiful moldings, millwork,” and “great flow for entertaining.”

The sale of this home was completed on Nov. 1. The seller’s agent was Paola Carey of Brotherhood and Higley; the buyer was represented by Kelly Kraus of Barbara Cleary’s Realty Guild.

Commentating later on the state of the local market as we reach year’s end, Kraus said New Canaan, “seems to have found a comfortable spot — prices have stabilized and houses are selling.”

“We’re lucky because this town has never been driven by real estate investors,” she said. “People here buy and sell houses because someone gets a new job, people get married or divorced, babies are born and children go off to college,”

However, she added, “the economic downturn” was a, “rude awakening” and a reminder  “that even New Canaan is not immune to tough times.”

10 Alan Lane: This colonial style home, built in 1967, spent 288 days on the market. The sale, which closed on Nov. 16, represented the mid-point of homes which closed during this period.

Sited on a hill on over four acres in the Lost District neighborhood, this home features an updated kitchen and baths. 

The home was listed for $1.475 million and sold for $1.425 million. Prudence Parris of William Pitt Sotheby International Realty was the seller’s agent, and the buyer was represented by Carey.

275 Mill Road: Built in 1910, this home has been on the market several times since early 2007. This current listing began in January of this year. 

Marketed by listing agent Joan Madden of William Pitt Sotheby’s Interational Realty as a “great alternative to a condo,” the home, with a total living space of over 2,000 square feet, enjoys winter views of the Silvermine River.

Listed  at $599,000 it closed on Dec. 16 with a selling price of $575,000.  Karen Sneirson, also with Sotheby’s, represented the buyer.

Sue Jeffries of Brotherhood and Higley said New Canaan is adjusting to what she called a “new normal,” but called the trend positive. 

“Life goes on and so there will always be value in a great community like New Canaan,” Kraus said.

Sullivan added perhaps the most optimistic outlook, “The best is yet to come.”