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Sarah Mitchell
Compass Real Estate · ZIP 06850
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06850 ZIP Code Housing Market
$608,125median sale price
What is the 06850 housing market like right now?
The median home sale price in ZIP code 06850 is $608,125, up 9.1% year-over-year. Homes sell in an average of 34 days with 38 active listings. The market is currently a seller's market. (Source: Redfin monthly MLS data, as of March 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is the 06850 ZIP code a buyer's or seller's market?
ZIP code 06850 is currently a seller's market and homes selling in about 34 days. How we determine this →
What are the latest 06850 housing market stats?
| Metric | Value |
|---|---|
| Median sale price | $608,125 |
| Median list price | $719,000 |
| Year-over-year price change | +9.1% |
| Average days on market | 34 days |
| Active inventory | 38 listings |
| Sale-to-list price ratio | 104.3% |
| Market condition | Seller's market |
Source: Redfin · Updated monthly
The 06850 zip code, located in New Canaan, CT, is currently classified as a seller's market. The median sale price stands at $608,125, representing a +9.1% change year over year. Homes in this area spend an average of 34 days on the market before going under contract. There are currently 38 active listings in the area, which influences how much negotiating power buyers and sellers have.
ZIP 06850 sits in the New Canaan, CT area, roughly 2.5 miles from downtown New Canaan. Because home prices are set street by street, this ZIP can move differently from New Canaan's citywide averages. The figures below reflect 06850 specifically — drawn from Redfin transactions, U.S. Census data for its 19,692 residents, and Zillow value estimates.
Homes sold
53
Last 12 weeks
Days on market
34
Average pace
Active listings
38
Sale-to-list
104.3%
Above asking
What is driving the 06850 housing market?
The 06850 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a seller's market, homes are selling at approximately 104.3% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 06850 have increased +9.1% compared to last year, suggesting continued demand and potential for further appreciation. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 06850 stands at $655,473, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $2,856 per month. This gives a price-to-rent ratio of approximately 19.1, which sits in a moderate range where the buy-versus-rent decision depends heavily on individual financial circumstances and time horizon. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Who lives in 06850?
Population
19,692
Median income
$123,633/yr
Median age
40 years
Owner-occupied
54.1%
College grads
51.2%
Avg commute
30.82 min
What is it like living in 06850?
Zip code 06850 is home to approximately 19,692 residents. The median household income is $123,633 per year, which shapes the types of homes and amenities available in the area. With a median age of 40 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 54.1% of housing units are owner-occupied, showing a healthy mix of homeowners and renters that contributes to a diverse community.
About 51.2% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 30.82 minutes, which is close to the national average. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 06850.
Which public schools serve ZIP 06850?
6 schools tracked · 2,624 students
The largest public schools serving ZIP code 06850 by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Ponus Ridge STEAM Academy
Grades 6-8 · 622 students
Jefferson Marine Science Elementary School
Grades PK-5 · 465 students
Silvermine Dual Language Magnet School
Grades K-5 · 427 students
Kendall College & Career Academy
Grades PK-5 · 378 students
Fox Run Elementary School
Grades PK-5 · 370 students
Concord Magnet School
Grades K-8 · 362 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Frequently asked questions about 06850
What is the median home price in 06850?
The current median sale price in 06850 is $608,125, based on recent Redfin transaction data. Prices have changed +9.1% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 06850 a buyer's or seller's market?
The 06850 zip code is currently classified as a seller's market. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population of zip code 06850?
Zip code 06850 has a population of approximately 19,692 residents. The median household income is $123,633 per year. About 54.1% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 06850?
Properties Incorporated provides comprehensive data for 06850 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 06850 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
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