Ridgefield Market Report : Mid-Year Review 2015

Putting Things Into Perspective

Nationally, as a result of improved consumer confidence, unit home sales are up nearly 10% when compared to the first six months of 2014. Fairfield County overall is up 9% during the same period. Although Ridgefield sales results are lower than 2014, this can again be attributed to the long and treacherous winter. The eight week loss of valuable market time in the typically brisk Spring selling season certainly impacts our mid-year results. However, there still is time to meet – and possibly surpass – 2014 sales, as the second half of the year outperformed the first half in both 2013 and 2014. The looming threat of rising interest rates should also bring more buyers to the table this fall and banks have begun to loosen their financing practices, which also makes the outlook more positive. The Luxury Market, which can be realized as $1.5 million and higher, is on target with 2014 in terms of unit sales, but has experienced a slight drop in value due to higher inventory levels. In-town and walk-to- town locations continue to be particularly popular, and tend to sell more quickly and at a higher price per square foot.

The Value Factor

Based on the Months Supply Of Inventory, 2015 seems to indicate that the market is slowing. However, this is not necessarily accurate as there have been many examples this year, across a number of price points, where multiple offer situations existed. As the market continues to be driven by value, proper pricing is critical. Today’s buyers also measure value based on the condition of the home and are responding most positively to homes that are updated and in pristine condition. When examining the inventory, there seems to be a discrepancy between the amount and the quality of the inventory. Buyers are ready to purchase, but they are still in the driver’s seat and want homes that are turn-key, almost without exception.

Looking Ahead

With no housing bubble in sight, we can expect moderate, sustainable sales growth. If you are in the market for a change, there’s no better time to buy up. If you are thinking of selling now or in the not too distant future, take the time to get your home ready for market or to just enjoy.


Ridgefield Schools Top Ranking Lists

Once again, the Ridgefield Public School system has proven to be one of the best in Connecticut, with the district’s high school earning a Gold Badge from U.S. News & World Report—the highest award possible. Another organization that ranks education systems, Niche, ranked Ridgefield High School as the 6th best in the state. The elementary and middle schools ranked similarly well: both middle schools are in Connecticut’s top 10 list, and all the elementary schools are in the top 30. Overall, the district was ranked the fourth best in Connecticut.

Ridgefield’s education system holds up on a national scale as well. Out of 8,738 school districts, Ridgefield was ranked 79th on Niche, putting it in the top 1% of districts nationally. On U.S. News & World Report, the high school was ranked #413 nationally out of 29,070 public schools.

Even more impressive, U.S. News & World Report says Ridgefield High School has one of the top 50 science, technology, engineering, and mathematics (STEM) programs in the nation. Workers in these fields are in high demand, with higher average salaries than non-STEM majors; this makes the Ridgefield school system a good investment in terms of getting a job later on in life.

The top rated Connecticut district was New Canaan. Eight of the top ten school districts in the state were from Fairfield county, including Ridgefield, New Canaan, Westport, Darien, Wilton, Weston, Greenwich, and Newtown. The top public high school in Connecticut was in Weston, while the best middle and elementary schools were both in New Canaan.

As Benjamin Franklin said, “An investment in knowledge pays the best interest.” Homes in areas with good education systems are lucrative, with 90% of homebuyers saying that school boundaries are a top concern when buying a home. Purchasing a house in an area with a good education system may equate to a higher selling price later down the line.

If you’re interested in moving to Ridgefield, sign up to receive the latest new home listings delivered right to your inbox, or contact me to see how I can work with you to find you a great home in Connecticut’s Number 1 ranked town.