Tag Archive for: Ridgefield

Do You Want To Live Like A Hollywood Producer?

Picture the glitz and glamor of old Hollywood, pair it with every modern convenience and move it all to bucolic Ridgefield.  Welcome to 23 Pin Pack Road.  Home to a noted Hollywood producer, the spectacular residence was recently featured in the Danbury News-Times as its cover story and it doesn’t disappoint.

The sophisticated & enchanting 3/4 bedroom, 1920s mini-estate is situated close to town and reflects exceptional Stone & Tudor architecture. Completely rebuilt in 2011 by an award-winning builder, it features a stunning saltwater pool & spa with beautiful high-end resort like appointments and an exercise area open to expansive outdoor patios.  The exceptional mix of wood & stone, soaring ceilings, multiple fireplaces and amazing millwork are hallmarks, while an incredible gourmet chef’s kitchen and breakfast area connect to a fabulous great room featuring a coffered ceiling & stone fireplace. The master retreat includes a sitting room/office, and His & Her separate baths & dressing rooms. Three additional bedroom options with beautifully appointed baths plus sensational outdoor living areas including stone patios with pergolas and open air stone decking, make this a great entertaining home. An additional charming studio on the property is great as an office or additional workspace. Like no other!

To make an appointment to view the home, please contact me.

‘Fairhaven’ Is A True Fair Haven According To HOME Monthly Magazine

We were thrilled when HOME Monthly asked to feature our beautiful listing on 209 West Lane in Ridgefield for their November issue.  From the minute we walked into the home, we knew it was something special and it seems, so did HOME.

Fairhaven – as it is known – is a wonderful mix of vintage and transitional design that encompasses the best in workmanship, flow and elegant features. Tucked away behind mature trees & setback from the road, it is a spectacularly renovated gem that radiates warmth & sophistication at every turn. Once the home of film star Geraldine Farrar, the floor plan gently meanders from one room to another, seamlessly blending the indoor & outdoor living areas to create a perfect entertaining space. The stunning breezeway, with amazing views of the private yard, connects the lower level pool house to the main rooms including a fabulous updated kitchen, formal living & dining rooms, a study, music room, covered porches & more. The gunite pool & multiple terraces, plus lovely open porches are surrounded by mature trees and fabulous perennial gardens.  The home borders Silver Spring Country Club and you can be in NYC in just over 1 hour to. It’s truly exceptional!

Read more about what makes this home so special in this month’s HOME Monthly. If you are interested in purchasing the home or setting up a time to view it, please contact me.

Ridgefield Market Report October 2017

October saw a decline in market activity, which is not uncommon given the usual frenzy that sets in as people start thinking about the Holidays. Encouragingly, the Median Value for single-family homes sold Ridgefield is up over the same time period last year, as were the number of properties that went under contract.

To see how October shook out in Ridgefield real estate , you can click for a snapshot of the market, or a breakdown by price.

MEDIAN SALES PRICE and CLOSED SALES
The number of closed sales was down over the same time last year with 28 properties selling as compared to 35 in 2016. This translated to a 20% decrease year-over-year. Overall however, 324 properties have sold compared to 304 by the same time last year, which represented a 6.6% increase. The Median Sales Price increased this month from $604,000 in October 2016 to $628,750 in October 2017. The year-to-date median value is on par with 2016 sitting at $640,000. Overall, all indicators point to the fact that it has been a steady year for real estate when compared with 2016.

PROPERTIES UNDER CONTRACT
The number of properties that went under contract increased over last year with 40 properties under contract compared to 27 in 2016.  This represents a 48.1% increase. Overall, in 2017 we have seen an 8.4% increase in buyers jumping into the market, with 334 properties going under contract since the beginning of the year, compared to 308 last year.

DAYS ON MARKET and INVENTORY
We are still dealing with a shortage of properties available for sale this month.  The months of inventory has decreased to only 7.9 months compared with 14.4 months last year. Forty new properties entered the market this month, compared with 51 last year, while the average days on market has decreased by 15% over October 2016 with homes spending an average of 149 days instead of 175 on the market before selling.

November and December are a traditionally slower time of year in the Ridgefield real estate market, but there are deals to be had if you’re looking to buy.  If you’ve been thinking of selling, take this time to prepare your home by updating, cleaning and decluttering.  Also, feel free to contact me for my complimentary Comparative Market Analysis to find out what your home’s worth in today’s market.

We continue to lead the market with the most comprehensive, proven marketing initiatives allowing your home to be in front of the widest audience possible on a local, regional, national and global level.  We recognize your home is your biggest asset and both Buyers and Sellers experience an unparalleled level of customer service when working with us. Contact us today! 

October KMM report

Who’s Buying and Selling Homes in 2017?

The National Association of Realtors just released the  2017 Profile of Home Buyers and Sellers survey which provides demographic insights into the real estate market nationally. For most home buyers, the purchase of real estate is one of the largest financial transactions they will make. Buyers purchase a home not only for the desire to own a home of their own, but also because of changes in jobs, family situations, and the need for a smaller or larger living area. This annual survey conducted by the National Association of Realtors® of recent home buyers and sellers provides insight into detailed information about their experiences with this important transaction. Here are highlights from the latest report.

  • First-time buyers made up 34 percent of all home buyers, a decrease from last year’s 35 percent.
  • Age for first-time buyers remains flat, but the age of repeat buyers continues to climb—now at an all-time high of 54.
  • Married couples continue at 3-year decline, while single females increased for the 3rd year.
    Buyer and seller use of agent remains at historical highs, 87% and 89% respectively. FSBOs remain at an all-time low of 8%.
  • Drop in those who stalled their sale of the home because they were underwater to 10%, but it is still common among those who purchased 8-10 years ago at 26%.
  • Tenure (holding on to the same property)  remains at an all-time high of 10 years.

In Ridgefield, we are seeing young families make the move to the suburbs, while empty-nesters are starting to downsize. While we may not have seen the gains in value that some of the country is experiencing, 2017 has been a strong year for both single-family unit sales and median home values.  We hope to see this trend continue through the end of the year.

 

Source: “2017 Profile of Home Buyers and Sellers,” National Association of REALTORS® (Oct. 30, 2017)

Ridgefield Q3 Market Report

The third quarter of 2017 sees the culmination of an active summer market with median values increasing for the first time this year when compared to 2016, and the number of sales remaining constant.

Unit Sales
Incredibly, the number of sales of single family homes in Ridgefield remained the same at 116 units in both the third quarters of 2016 and 2017, however the total dollar volume sold in Q3 2017 amounted to $93,705,894, up from $86,206,720 in 2016. Overall, since January, 294 homes have sold in Ridgefield compared with 269 during the same time last year. This represents an 8.5% increase and reaffirms that we are experiencing a healthy real estate market.

Market Inventory
The number of homes listed for sale was lower every month during Q3 2017 when compared to Q3 2016, with an average of 282 homes available for purchase. The average months of inventory was only 6 months in July and August, but has risen to 14 months in September, which is to be expected as families settle into school, and less new homes come on the market.

Pricing
The median sales price for single family homes is currently sitting at $657,500 as compared to $637,500 during the same period last year. This represents a nominal increase in median values of 3%. The average sales price also saw a shift towards higher values with the return of upper end sales. It rose from $743,161 in Q3 2016 to $807,809 this year. Homes also continue to sell at an average of 96.6% of the listed price.

For a snapshot of of single family home sales in September, click here.

Ridgefield Schools Named Among State’s Best

Niche.com has released it’s 2018 Best Public Schools ranking and it comes as no surprise that Ridgefield schools once again fared very well. The district as a whole was ranked number 17 out of 118 school districts in Connecticut with good showings at all three levels of education. Our teachers were ranked number 8 in the state.  Nationally, Ridgefield School District ranks number 709 out of 10,574 and comes in at number 389 in terms of our teachers.

District rankings were determined by a thorough examination and analysis of key statistics and millions of reviews from students and parents using data from the U.S. Department of Education. Ranking factors include state test scores, college readiness, graduation rates, SAT/ACT scores, teacher quality, public school district ratings, and more.

Ridgefield High School

Ridgefield High School placed #11 out of 196 Connecticut public schools, while our teachers ranked #9 and we came in at #7 in terms of collage prep. Nationally, Ridgefield High School places number 685 out of 17, 867 schools. Overall, Fairfield County counted many top 10 finishers with the ranking based on factors including state test scores, college readiness, graduation rates, SAT/ACT scores, teacher quality, and high school ratings.  For a full ranking of the State’s Best High Schools, click here.

Ridgefield Middle Schools

Ridgefield middle schools also finished strong with East Ridge Middle School ranking #19 out of  287 schools and Scott’s Ridge Middle School in the #25 position. Reached ranking were #4 and #12 respectively. Middle school ranking involved a similar process to the high school ranking and included factors such as state test scores, student-teacher ratio, student diversity, teacher quality, middle school ratings, and the overall quality of the school district. You can see more about how Ridgefield Middle Schools ranked overall here.

Ridgefield Elementary Schools

Overall, Ridgefield elementary schools placed in the top 100 schools when compared to a total of 577 public elementary schools throughout the state.  Branchville Elementary School ranked the highest at #37, with Ridgebury at #50, Barlow Mountain #58, Scotland #60, Farmingville #63, and Veteran’s Park #97. For a full list, see the rankings here.

New Trend – Living Rooms Are Heading Upstairs

After years of hearing the buzzwords “open concept”, homes are starting to see a bit more compartmentalization with additional cozy places to retire becoming more common.

As such, upper-level living rooms are becoming a sought-after space among homeowners, The Wall Street Journal reports. Homeowners are finding these second-floor lounges can be more informal spaces than living areas on the first floor—and can offer more privacy, too.

The idea behind these spaces are nothing new. Historic homes often have included an upstairs “retiring room” for mothers nursing children or for resting midday, says T. Jeffrey Clarke, an architect in Philadelphia, and Karla Murtaugh Homes has a few homes on the market right now that embody these qualities.  You can check out 321 Main Street, 22 Oak Knoll Road, 285 West Lane and 258 Black Rock Turnpike, just to name a few.

Upper-level living rooms—sometimes labeled “pajama lounges”—are usually located right off bedrooms. They may include comfy sofas, a kitchenette, a television, and even a nook to work from. Architects are removing long hallway spaces upstairs to make room for these central living spaces upstairs.

The lounge area is intended for “the bedrooms [to] spill out, and the family can have a space to assemble,” says Kobi Karp, an architect in Miami who recently designed an upper-level living room in one of his projects. “It’s where you go on a Sunday morning and wait for the rest of the house to wake up.”

Upper-level living rooms tend to be more casual than their lower counterparts. They also tend to have recessed lighting instead of chandeliers and favor cozier seating areas over larger sectionals.

As families create new functions for classic spaces, it’s nice to see a trend recognizing the value that an antique home’s architecture and design brings to a modern world.

Source: “The Living Room Moves Upstairs,” The Wall Street Journal (Aug. 23, 2017)

Ridgefield’s 2017 Mid-Year Market Report

The first half of 2017 had sellers chomping at the bit to get their homes on the market early and take advantage of the relatively mild weather. Buyers were also out in full force looking to move when the school year ended and take advantage of the increased inventory. A very wet spring curtailed some of the action but unit sales have still surpassed 2016 by 17%, which is encouraging for steady growth. While home values have not risen, we have seen a competitive marketplace with multiple offers and homes selling for more than the asking price on numerous occasions. Also interesting is the segmentation that seems to be occurring in the market with the greatest gains seen in the $500,000-$600,000 and the $800,000-$900,000 categories. This is encouraging for middle-class families who are looking to upsize, downsize or move to the area for our wonderful schools, low crime, superb cultural offerings, family-friendly lifestyle, and proximity to major commerce centers.

Ridgefield Market Snapshot
Overall, the first half of 2017 has been a success for the Ridgefield Real Estate market. Unit sales increased 17.1% from January to June 2017 with 178 parcels selling compared to 152 in the first half of 2016. Total sales volume was also up 6.1% from $118,218,854 last year to $125,453,815 in 2017. The majority of home sales were priced under $1 million. If the market continues at its current pace, we are on track to match or exceed last year’s results.

Sellers Or Buyers Market
Inventory hit a record low in June 2017 with only six months worth of housing available for purchase. While this would suggest a sellers market, it does not yet seem to be playing out that way. The mid-year Sales-to-List Price Ratio held steady at 96.8%, slightly up from 2016’s 96.2%. However, pricing and the condition of the home still seem to be the key to selling with buyers using technology to assess for themselves what they think a property is worth. Sellers are also becoming increasingly savvy by staging and upgrading their homes for a quicker, more profitable sale.

Prices Holding Steady
The Median Sales Price for a single-family home in Ridgefield decreased by 5.0% from $660,000 in the first half of 2016 to $627,000 during the same time period in 2017. The average sales price also decreased from $772,672 to $704,797. Most of the growth in the first half of 2017 was seen in the $500,000 to $900,000 sector with 101 homes sold as compared to only 71 last year.

The Luxury Market
The luxury market – generally defined as homes selling for $1.5 million and above – saw a marked decrease in activity over the first half of 2017. Only two homes sold in this price range – one for $2.9 million and one for $3.1 million. There were no home sales between $1.5 and $2 million, which is unusual. Currently, as of July 1st there are four additional homes in this price range that are either under deposit or under contract to close by Labor Day, and anecdotally activity has picked up with more showings occurring in this price point. Sales were strong in the $1 million to $1.5 million category mimicking 2016 with 21 sales as compared to 22 last year.

Where Are People Buying?
Using Town Hall as the center of the Village, 37% of all sales occurred within a 2 mile radius in what would be considered “in-town” properties. Additionally, these in-town properties commanded a Median Sales Price of $739,000 and an Average Sales Price of $807,288, which is well above the town as a whole. The results support a continuing trend towards more walkable residences. We expect to see in-town properties remain desirable as both younger families escape the city and empty-nesters downsize. Upper end condominiums were also in high demand with five sold that were priced over $700,000, including one priced at $1,860,000.

Sales Up Across The Board
All Fairfield County towns experienced significant growth in the number of homes sold during the first half of 2017, reiterating the fact that individuals and families still consider Fairfield County a great place to live. However, it was a mixed message when it came to median home values with some towns showing double-digit increases, while others saw prices remain relatively flat or somewhat decreased. Traditionally more affordable towns like Stamford and Norwalk saw gains in pricing, while Wilton, Ridgefield and Redding saw values slip. Surprisingly, Westport experienced an almost 10% increase in median home value after seeing decreases during the past two years. Overall, slow but steady growth seems to be what we can expect throughout the county in the upcoming year.

DOWNLOAD THE FULL REPORT

Ridgefield Market Report May 2017

The spring market is in full swing and we are seeing new inventory enter the market every day, while existing homes are selling at a faster rate than at the same time last year. We are experiencing good movement at all price points, particularly under $1 million. We also continue to see the ultra high-end luxury market have a few transactions, which is encouraging.

To see how May shook out in Ridgefield real estate , you can click for a snapshot of the market, or a breakdown by price.

MEDIAN SALES PRICE and CLOSED SALES
The number of closed sales is up over the same time last year with 40 properties selling as compared to 26 in 2016. This translates to a 53.8% increase year-over-year. Overall, 125 properties have sold compared to 105 by the same time last year, which represents a 19.0% increase. The median sales price decreased this month from  $686,250 in May 2016 to $564,000 in May 2017. The year-to-date shows a decrease of 5% from $638,000 last year to $606,000 this year.  We expect the median price to increase again given higher priced sales that have entered escrow or are pending.

PROPERTIES UNDER CONTRACT
The number of properties that went under contract took a huge jump over last year with 96 properties under contract compared to only 28 in 2016.  This represents a 243% increase. Overall in 2017 we have seen an 56% increase in buyers jumping into the market, with 198 properties going under contract since the beginning of the year, compared to 127 last year.

DAYS ON MARKET and INVENTORY
We are still dealing with a shortage of properties available for sale this month.  The months of inventory has decreased to only 4.5 months, – which is even less than April’s 5.4 months. 87 new properties entered the market this month, compared with 83 last year.  Overall, we have 3% less properties entering the market this year than at the same time last year. The average days on market has decreased slightly over May 2016 with homes spending an average of 155 days instead of 191.

Early June continues to bring strong  interest in the market from both buyers and sellers. Don’t wait !  Take advantage of my complimentary Comparative Market Analysis to find out what your home’s worth.

We continue to lead the market with the most comprehensive, proven marketing initiatives allowing your home to be in front of the widest audience possible on a local, regional, national and global level.  We recognize your home is your biggest asset and both Buyers and Sellers experience an unparalleled level of customer service when working with us.