New Canaan Board of Realtors Finds Millennials Are Embracing Suburban Living

NEW CANAAN, Conn., May 14, 2019 /PRNewswire/ -- For first time homebuyers, the allure of top-rated schools, walkability and a strong sense of community are proving reason enough to leave city life behind. A survey of recent homebuyers conducted by the New Canaan Board of Realtors found that these were the three top criteria drawing Millennials out of New York City. Data from the National Association of Realtors underscores the demand for walkability, finding 62 percent of Millennials prefer walkable communities. And, year-over-year data from the Board shows a 56-percent increase in units sold in New Canaan during April.

"We consistently hear from buyers that New Canaan offers a quality of life that isn't available in other communities," Janis Hennessy, president, New Canaan Board of Realtors, said. "From generous lot sizes to classic New England colonials to iconic modern architecture to rich cultural amenities, New Canaan is a tight knit community with notable features."

Home to Niche.com's #1-rated public school district in Connecticut, top private schools and 13 preschools, New Canaan is nestled in Fairfield County, an hour away from New York City, with easy access to the Merritt Parkway. Residents enjoy a vibrant walkable downtown with first-class dining, a diverse mix of retail, cultural attractions and more. New Canaan is also home to numerous parks, including the 300-acre Waveny Park, which features a pool, trails and fields, serving as a central gathering place within the community.

An extension of its strong sense of community, New Canaan is invested in helping new residents acclimate to the town. New Canaan's Newcomers Club is the largest in the U.S. and offers a wide-range of social activities to help those who are new to town meet their neighbors and forge lifelong friendships. The community also has a Town Greeter who welcomes new residents and educates them about the amenities, from exercise classes to foodie destinations.

Millennials account for 42 percent of home buyers nationwide and 43 percent of first-time buyers purchase in the suburbs, according to The Zillow Group 2018 Consumer Housing Trends Reports.

"Moving from the city into the suburbs is a big change," Hennessy said. "Our goal is to make buyers feel welcomed and help them experience the many benefits of living in New Canaan."

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SOURCE New Canaan Board of Realtors