Ridgefield resident, Karla Murtaugh, a real estate broker in town for two decades and a resident of 30 years, says that the current market is one for the history books. She calls what began in May 2020 a powerful “surge” - one that isn’t letting up.
“After the shutdown, we came back to a different market,” Murtaugh says. “This is so exciting for the town. Our team is working on all cylinders!”
We were able to catch Murtaugh in between appointments and closings to ask her a few questions about the current real estate landscape.
Let’s talk about supply and demand
This time last year, there were 199 Ridgefield homes on the market. Right now, there are 37 single-family homes currently for sale. As of today, Tuesday, March 30, there are 47 accepted offers and 66 homes that are currently in-contract.
Where are all of these homebuyers coming from?
They are coming to Ridgefield from near and far - Long Island, NYC and New Jersey, and quite a few from California! Ridgefielders are also moving within Ridgefield, and residents from neighboring towns are buying homes in town.
How are local agents managing the demand?
People are lined up to see properties. Some agents are even limiting the amount of time interested buyers can spend touring properties to allow for all to have an opportunity to visit in a safe manner.
The kids have moved out, you want to stay in town and downsize. “The Elms” is such an ideal location. Any homes available there?
The Elms is sold out, with the exception of the iconic Seymour house. People are committing before the foundation has been put in the ground!I get calls all the time - is there anything available?
Give me some numbers… changes from Q1 2020 to now?
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Overall dollar volume is up 85%
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Number of sales up 43% with 100 homes sold YTD vs. 70 in Q1 2020
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Median sale price up 42% at $850,000 vs. $596,700
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Average sale price up 30% at $919,842 vs. $710,045
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Homes sold over 1MM - doubled this year compared to last
This is holding some people back! We are helping our clients get a game-plan together and find the next move that makes the most sense for them. Popular destinations for Ridgefield sellers: Florida, the Carolinas, and destinations north including Vermont, Maine, Rhode Island and New Hampshire.
What’s next?
I don’t see any change in the foreseeable future! I mean, Ridgefield checks all of the boxes - amazing schools, vibrant downtown, artist's destination, the great outdoors, a fantastic public golf course and country club - it’s a special place to call home.
Karla Murtaugh is not just a top-producing realtor, she’s part of the fabric of Ridgefield! Karla currently serves on the Executive Board of the Boys & Girls Club of Ridgefield and has also held positions on the Ridgefield PTA Executive Board and the Ridgefield Board of Realtors. She is proud to be the lead sponsor for the Run Like A Mother Annual Mother’s Day 5K race, as well as lending support to many other non-profit groups and events such as Sphere, Ridgefield High School Tiger Hollow fundraising, RVNA health, Ridgefield Library and the Boys & Girls Club of Ridgefield’s Annual Turkey Trot 5K Race.
Learn more at https://karlamurtaugh.com/ and look for Karla’s Q1 Market Report next week.