Karla Murtaugh’s Market Minute
An unseasonably warm November has seen the Ridgefield Real Estate market remain active. The median price of a single-family home in 2017 is pretty much on par with the same time period last year, checking in $640,000. The number of unit sales is actually up with 23 properties selling in November 2017, as compared to 21 in 2016, and 347 compared to 325 year-to-date. The number of properties that went under contract this month was greater than in 2016 by 64%, representing a 16-property increase.
The under $700,000 market is still very busy, and we have seen steady sales in all other price categories, which is encouraging. The luxury market still continues to struggle slightly with a decreased number of homes over $1 million selling this year as compared to last.
Across the board, key indicators point to a somewhat flat market as compared to 2016, which is actually good news when considering that some Fairfield County towns have had decreases in both property values and the number of homes sold.