Tag Archive for: Monthly Market News

Neumann Real Estate Leads The Way In Ridgefield Sales

Once again, Neumann Real Estate – Christie’s dominated the Ridgefield real estate market closing $162,947,834 in sales and exceeding the closest competitor by more than $86 million. Neumann Real Estate- Christie’s also leads the competition with 180 closed transactions, outpacing the nearest competitor by 78 sales. Also of note, in terms of closed sales volume, three out of the four top producing agents – including myself – are with Neumann Real Estate.

For more information about what the Neumann Real Estate – Christie’s partnership can do for you, contact me for a comprehensive free market analysis of what your home’s worth. Don’t miss out on an opportunity to list or buy with the best!

http://108.179.243.173/~d5o7l0g4/wp-content/uploads/2015/01/150101-NRE-stats-OL.pdf

Ridgefield Market Report for December 2014

December showed mixed results in the Ridgefield single family home market. Although the Median Sales Price was slightly decreased at months end, 2014 finished strong with a higher Median Sales Price overall than the previous year. The Days On Market for both December year over year and 2014 overall was lower than previous, and the number of Closed Sales actually increased in December 2014 compared to December 2013. For full recap and analysis of the 2014 home market, please read our “Interpreting The Market Report” found in the February issue of Ridgefield Magazine, or come back and visit KarlaMurtaugh.com to download it.

MEDIAN SALES PRICE and CLOSED SALES
December 2014 saw the median sold price of a property in Ridgefield decrease from $650,000 in 2013 to $640,00 in 2014, representing a 1.5% drop. The number of closed sales actually increased to 35 in December 2014, compared to 34 during the same time period last year. Overall, on the year-to-date, the median price has increased 1.8% over 2013, rising from $650,000 to $661,500. Closed sales are lower than the same time period last year with a total of 331 properties closing since the beginning of the year compared to 389 this time least year; a decrease of 14.9%.

PROPERTIES UNDER CONTRACT
Reflecting strong interest by buyers in December of this year, the number of properties under contract increased by 30.0% over the same time last year, with 26 entering escrow compared to 20 last year. In the year-to-date figures, 346 properties have opened escrow since the beginning of 2014, as compared to 369 last year.

DAYS ON MARKET and INVENTORY
The Average Days On Market decreased in December 2014 with properties spending an average of 187 days as compared to 218 days during the same time last year. Overall, in year-to-date figures, the days on market has decreased by 21.0%. The months supply of inventory has also decreased to just 10.1 months, down from 14.3 months during the same time last year.

NEW PROPERTIES FOR SALE
The number of new properties listed in December totaled 12, which is down from last year’s 21 properties. In the year-to-date figures, 2013 outpaced 2014 for properties listed 654 to 622, a decrease of 34.9%.

For a full graphical analysis of Ridgefield’s December 2014 real estate market, click here. You can also take advantage of my complimentary Comparative Market Analysis to find out what your home’s worth.

http://108.179.243.173/~d5o7l0g4/wp-content/uploads/2015/01/KMMReport-Dec-2014.pdf

Ridgefield Market Report for November 2014

Overall, sales figures are down for single family home sales in November 2014 as compared to the same time last year. This is also true in the overall year to date.

MEDIAN SALES PRICE and CLOSED SALES
November 2014 saw the median sold price of a property in Ridgefield decrease significantly from $757,000 in 2013 to $538,500 in 2014, representing a 28.9% drop. The number of closed sales also decreased to 14 in November 2014, compared to 18 during the same time period last year. Overall, on the year-to-date, the median price has increased 2.5% over 2013, rising from $650,000 to $666,000. Closed sales are lower than the same time period last year with a total of 296 properties closing since the beginning of the year compared to 355 by this time least year, a decrease of 16.6%.

PROPERTIES UNDER CONTRACT
Reflecting strong interest by buyers in November of this year, the number of properties under contract increased by 52.0% over the same time last year, with 38 entering escrow compared to 25 last year. In the year-to-date figures, 330 properties have opened escrow since the beginning of 2014, as compared to 349 over the same time period last year.

DAYS ON MARKET and INVENTORY
The days a listed home spends on the market increased in November 2014 with properties spending an average of 152 as compared to 129 days during the same time last year. Overall, in year-to-date figures, the days on market has decreased by 22.4%. The months supply of inventory has also decreased to just 8 months, from 12.3 months during the same time last year.

NEW PROPERTIES FOR SALE
The number of new properties listed in November totaled 16, which is down from last year’s 23 properties. In the year-to-date figures, 2013 outpaced 2014 for properties listed 633 to 610, a decrease of 3.6%.

For a full graphical analysis of Ridgefield’s November 2014 real estate market, Comparative Market Analysis to find out what your home’s worth.

http://108.179.243.173/~d5o7l0g4/wp-content/uploads/2014/12/KMMReport-2014-NOV.pdf

Ridgefield Market Report for October 2014

October was a mixed month for Ridgefield single family housing sales. The median sales price
decreased significantly from $680,000 in October 2013 to $560,000 in October 2014, which represents a drop of 17.6% The number of properties that sold also decreased from 23 in October 2013 to 12 during the same time this year – a 47.8% decrease. However, the good news is that the properties entering escrow/under contract rose sharply to 35 from 23 in October 2013 – an increase of 52.2%. Overall, sales and median price are still lagging behind last year’s numbers as we head into the Holiday season.

MEDIAN SALES PRICE and CLOSED SALES
October 2014 saw the median price of a property in Ridgefield decrease significantly from $680,000 in 2013 to $580,000, and the number of properties sold also decreased to 12 in October 2014, compared to 23 during the same time period last year. Overall, on the year-to-date, the median price has increased 3.5% over 2013, rising from $650,000 to $672,500. Closed sales are lower than the same time period last year with a total of 282 properties closing since the beginning of the year compared to 337 by this time least year, a decrease of 16.3%.

PROPERTIES UNDER CONTRACT
Reflecting strong sales, the number of properties under contract in October 2014 increased by 52.2% over the same time last year, with 35 entering escrow compared to 23 last year. In the year-to-date figures, 311 properties have opened escrow since the beginning of 2014, as compared to 324 over the same time period last year.

DAYS ON MARKET and INVENTORY
The days a listed home spends on the market continues to decrease in 2014 with properties spending an average of 152 days on the market during October 2014, as compared to 172 days last year. Overall, in year-to-date figures, the days on market has decreased by 24.2%. The months supply of inventory has also decreased to just 9.5 months, from 14.7 months during the same time last year.

NEW PROPERTIES FOR SALE
The number of new properties listed in September totaled 39, which is down from last year’s 46 properties. In the year-to-date figures, 2013 outpaced 2014 for properties listed 610 to 594, a decrease of 2.6%.

For a full graphical analysis of Ridgefield’s October 2014 real estate market, download the report. You can also take advantage of my complimentary Comparative Market Analysis to find out what your home’s worth.

http://108.179.243.173/~d5o7l0g4/wp-content/uploads/2014/11/KMMReport-Oct-2014.pdf

Ridgefield Market Report for September 2014

September was a positive month for Ridgefield single family housing sales. The median sales price held fairly steady, while the number of units sold increased. The number of days a property spent on the market decreased by 45% over the same time last year, indicating properties are still in demand by buyers, and the number of properties that entered escrow (went under contract) increased by 144%! The number of closed sales year-to-date is still lagging behind the same time last year, but the overall median sales price is up over 2013. In my opinion, it’s a strong fall market for sellers, and as interest rates remain low, a great time to invest as a buyer.

MEDIAN SALES PRICE and CLOSED SALES
September 2014 saw the median price of a property in Ridgefield decrease very slightly to $697,500 from $702,000 in 2013 (0.6%), while the number of properties sold increased to 33 in September 2014, compared to 27 during September of last year. Overall, on the year-to-date, the median price has increased 6.0% over 2013, rising from $642,250 to $681,000. Closed sales are lower than the same time period last year with a total of 270 properties closing since the beginning of the year compared to 314 by this time least year, a decrease of 14%.

PROPERTIES UNDER CONTRACT
Reflecting a good end to the quarter, the number of properties under contract in the month of September increased by 143.8% over the same time last year, with 39 entering escrow compared to 16 last year. In the year-to-date figures, 276 properties have opened escrow since the beginning of 2014, as compared to 301 over the same time period last year.

DAYS ON MARKET and INVENTORY
The days a listed home spends on the market continues to decrease in 2014 with properties spending an average of 127 days on the market during September 2014, as compared to 232 days last year. Overall, in year-to-date figures, the days on market has decreased by 24.6%. The months supply of inventory has also decreased to just 9.3 months, from 21.0 months during the same time last year.

NEW PROPERTIES FOR SALE
The number of new properties listed in September totaled 59, which incidentally almost equaled the 58 new properties that were listed for sale in September 2013. In the year-to-date figures, 2013 outpaced 2014 for properties listed 564 to 555, a decrease of 1.6%.

For a full graphical analysis of Ridgefield’s September 2014 real estate market, download the report. You can also take advantage of my complimentary Comparative Market Analysis to find out what your home’s worth.

http://108.179.243.173/~d5o7l0g4/wp-content/uploads/2014/10/KMM-Report-Sept.pdf

Ridgefield Market Report For August 2014

August 2014 saw both the number of sales and the median price drop as compared to the same time last year. However, when you look at the year-to-date figures, the median price is still $40,000 higher than last year, even though unit sales are lower. Inventory, days on market, new properties listed and the number of properties under contract (entering escrow) remain fairly constant – a good sign that the market is stable. I’m looking forward to a continued positive market, and maintain that with record low mortgage rates still in effect, its a good time to buy or sell.

CLOSED SALES
The number of closed sales decreased from 50 in August 2013 to 37 this year, representing an 26.0% decrease over last year. Total closed sales to date figures also follow this trend with 287 sales in 2013 compared to 236 in 2014.

MEDIAN SOLD PRICE
The August median sales price decreased 18.4% from August 2013 with the median price being $633,500 compared to $776,500 last year. Overall, year-to-date figures however, show an increase in the median sales price from $637,500 in 2013 to $677,500 this year. That represents a $40,000 or 6.3% increase.

PROPERTIES UNDER CONTRACT
Encouragingly, the number of properties under contract in the month of August was substantially higher than during the same time period last year. 48 properties are currently under contract compared to 34 last August–an increase of 41.2%. In the year-to-date figures, 273 properties have opened escrow since the beginning of 2014, as compared to 285 over the same time period last year.

DAYS ON MARKET and INVENTORY
The days a listed home spends on the market continues to decrease in 2014 with properties spending an average of 124 days on the market during August 2014, as compared to 142 days last year. Overall, in year-to-date figures, the days on market has decreased by 21.9%. The months supply of inventory has also decreased to just 7.4 months, from 10.3 months during the same time last year.

NEW PROPERTIES FOR SALE
Interestingly, the number of new properties for sale has not changed significantly from last years figures with 34 new properties coming onto the market in August 2014, compared to 35 last year. Overall, 496 new properties have been listed in Ridgefield in 2014 compared to 506 by this time last year.

For a full graphical analysis of Ridgefield’s August 2014 real estate market, download the report. You can also take advantage of my complimentary Comparative Market Analysis to find out what your home’s worth.

http://108.179.243.173/~d5o7l0g4/wp-content/uploads/2014/09/August-2014-09-03-08.04.01.pdf

Ridgefield Market Report : 2014 Mid-Year Review

The Housing Recovery Continues.

At first glance it appears the momentum over the past two years has stalled. We need to remind ourselves that 2013 was a breakaway year for the local real estate market here in Ridgefield. We experienced a 37% increase in unit sales when comparing the first 6 months of sales in 2013 vs. 2012. We ended 2013 with a 45% increase in unit sales over 2012. Those are signs of significant shifts, further demonstrating the market is in recovery mode. The 15.2% decrease in 2014 sales for the first 6 months is a direct reflection of an extremely harsh winter. Q1 2014 unit sales were 27.4% below the same three-month period in 2013. Typically, by March the Spring Selling Season should be in full swing, but we did not start to see business pick-up until mid-late April. Unit Sales from April through June 2014 fell short 7.8% when compared to the same period in 2013, proving that fewer buyers were in the market this winter, and resulting in fewer Q2 closings. Most promising, however, is that the Median Sales Price for a home in Ridgefield increased by nearly 17% to $690,000 when compared to the median price of $590,000 in the first 6 months of 2013. The Unit Sales by Price Category Chart reveals that we are selling a greater number of higher priced homes than we did in 2013 indicating consumers are confident about investing in Ridgefield.

Supply and Demand.

Inventory is down slightly when compared to June 2013. Many predicted there would be a significant number of new homes hitting the market this spring, but this did not materialize. With lower than expected inventory levels in the more popular price segments, homes that were priced properly, updated and show ready sold quickly.

Going Forward.

I predict that the current trend of steady, reasonable growth will continue through the end of the year. With consumer confidence at its highest since 2007, and interest rates remaining historically low, buyers still feel the urge to buy – especially those properties which reflect good value. Ridgefield continues to attract families looking to settle in a community that offers a wonderful quality of life, award winning schools and a vibrant downtown center with many new destinations.

DOWNLOAD THE FULL REPORT HERE

http://108.179.243.173/~d5o7l0g4/wp-content/uploads/2014/07/2014-Mid-Year-Review.pdf

Ridgefield Market Report for May 2014

May 2014 was an interesting month for Ridgefield home sales. The number of closed sales actually decreased from previous months, however the median sales price increased, as did the number of homes under contract. The months supply of inventory decreased as did the days on market, indicating homes are selling quickly and at an increased market value. This is all good news for the Ridgefield Real Estate market moving forward.

CLOSED SALES
The number of closed sales decreased by 4 over May 2013 from 35 to 31, representing an 11.4% decrease over last year. Total closed sales to date figures also follow this trend with 124 sales in 2013 sales compared to 98 in 2014. Given the timing of the closings, I would say this decrease can still be attributed to the relatively slow start to the market given the bad weather seen in February and March.

MEDIAN SOLD PRICE
Even though the number of unit sales was down, the median sales price rose from $627,000 in May 2013 to $644,000 in May 2014. This represents a modest increase of 2.7%. When comparing year-to-date median values however, the jump is more apparent with prices increasing 13.7% year-over-year. ($653,750 in 2014 compared to $575,000 in 2013).

PROPERTIES UNDER CONTRACT
The number of properties that went under contract and opened escrow in May 2014 was up 93.3% over May 2013 rising from 45 to 87. This trend continued in the year-to-date figures where 199 have opened escrow since the beginning of 2014 as compared to 153 over the same time period last year.

DAYS ON MARKET and INVENTORY
Good news for sellers! The average days on market for homes listed has been steadily decreasing since last year. Although there was no big change when comparing May 2013 to May 2014 (133 vs 134 days) there was a significant 9.5% decrease in the number of days a home spent on the market when comparing the year-to-date. The months supply of inventory is also down by 51% over May 2013, which indicates strong demand for homes in Ridgefield.

NEW PROPERTIES FOR SALE
As expected, the number of properties for sale is steady from last year to the this year with 95 new properties listed in May, and 358 overall year-to-date. This represents no significant change from 2013.

For a full graphical analysis of Ridgefield’s May 2014 real estate market, download the report here. You can also take advantage of my complimentary Comparative Market Analysis to find out what your home’s worth.

http://108.179.243.173/~d5o7l0g4/wp-content/uploads/2014/06/May-2014.pdf

Ridgefield Market Report for March 2014

March 2014 unit sales of Single Family Homes in Ridgefield were lower as compared to the same time last year, dropping to 19 from last year’s 24. The same holds true for the Q1 2014 results where only 45 homes sold as compared to 62 in Q1 of 2013. This represents an approximately 29% drop in sales, which could be attributed to the unseasonably bad weather we experienced in January, February and March of this year.

The Median Sales Price of a single family home, however, showed a favorable increase in dollar value in Q1 2014 rising from $527,750 to $680,000. The March 2014 figures also follow this trend increasing to $619,000 from $562,500 a year ago. The Average Days on Market decreased by 15.4% from Q1 2013 to Q1 2014, and 30.8% when comparing the month of March alone. These two indicators would seem to point to a strong demand for homes in good condition that are priced appropriately.

The number of homes the went under contract in the month of March was 52, as compared to 32 last year, while the Months Supply of Inventory decreased to only 5.9 months compared to 11 months last year. The number of New Properties for Sale in March 2014 outpaced 2013 86 to 70, but overall we are still lagging behind when looking at the number of new properties listed overall in Q1 2014.

For a full graphical analysis of Ridgefield’s March and Q1 2014 real estate market, download the report here. You can also take advantage of my complimentary Comparative Market Analysis to find out what your home’s worth.

http://108.179.243.173/~d5o7l0g4/wp-content/uploads/2014/04/March-ridgefield.pdf