A Look Inside the Summer Real Estate Market

Q: It’s August and vacation is on a lot of people’s minds. After a crazy couple of years, have you had a chance to get away and take some time for R&R?

A: Actually no – haven’t gotten there yet! But we’re happy to be so busy. Business is still moving forward quickly. We’ve been very busy this summer, listing properties, negotiating sales, and securing properties for our buyers. We recognize people are still taking vacations this summer, but things are still fluid. The response and attendance of touring properties has been great. The properties we’ve launched in the height of this summer continue to move swiftly so we’re not seeing a traditional seasonal market this year.

This week our office just launched some great new construction properties. We’re excited to announce that Carole Cousins with Compass here in Ridgefield is launching two new construction properties with respected long-time builder Sturgess Brothers.


Q: What do you expect for fall?

A: Our team is busy getting ready for some great fall launches. Stay tuned to see what we’re launching – we’re really excited to be launching properties across all price points!

Speaking of fall, the school calendar is very important to some people and we do see some people buying and selling according to that timing. Some very seasoned relocation buyers and sellers have informed me that their experience is not having their children start the first day of school with everyone else in town has its benefits. The schools go out of their way for new students to make them feel welcome and help them adjust, so keep that in mind if you’re thinking of selling and trying to make the best timing choice for your family.

Connecticut Cottages & Gardens’ “Five Brokers You Should Know in Connecticut!

Karla Murtaugh is honored to be included in Connecticut Cottages & Gardens’ “Five Brokers You Should Know in Connecticut!” Says the magazine, “Connecticut has seen an influx of new homeowners who enjoy the best in architecture and design as well as the latest scoop on Real Estate news in CTC&G.
While Real Estate sales have slowed, C&G’s Readership Survey shows that 44% of respondents said they are in the market to buy a house in the next two years. Homeowners will need an agent or broker to help them buy or sell their home. Here, we present some of the brokers you should know when you are ready to move or purchase a vacation home or investment property.
Karla is well respected and consistently recognized as a top-producing Fairfield County Realtor and has repeatedly been named as one of WSJ Real Trends “America’s Best” Realtors. Her talented team represents properties ranging from condominiums to exceptional estate properties. Karla is the founding agent of Compass Ridgefield.
One of Ridgefield’s most admired properties, 23 High Ridge Avenue, is the epitome of extraordinary architecture set against a most

spectacular setting on one of Fairfield County’s most exceptional avenues. This circa 1940 classic Georgian Colonial showcases impeccable craftsmanship and luxurious features throughout. High level renovations/ expansions allow for a sophisticated yet casual lifestyle.

Highlights include an impressive front-to-back foyer, impressive high-end kitchen, his/her baths, beautifully appointed rooms with easy access to the oversized patio, outdoor kitchen, and covered veranda. Outdoor amenities include a heated saltwater pool & spa, renovated cabana, and beautiful landscaped grounds. Approximately 1 hour to NYC.”
Click here to check out the list plus highlights of 23 High Ridge Avenue.

Interpreting the Market: Ridgefield Real Estate Report 2023 Mid-Year Review

The market in the second quarter performed similarly in most aspects to the first quarter. There was a continued decline in single family sales as compared to the second quarter of 2022. The limited availability of inventory remained a significant factor, effectively impeding sales growth. This quarter witnessed a consistent decrease in active listings across the board. Simultaneously, the presence of a competitive buyer environment arising from low inventory increased demand contributed to maintaining sale prices at higher levels than the same period last year.



Sellers continued to approach the market cautiously in the early months of 2023 leading to a challenging inventory situation. Buyers continue to move quickly to capitalize on properties offering desirable amenities, locations, and updates. Multiple offers continue though their frequency has slightly diminished. Notably, prices have remained strong despite concerns about inflation and interest rates. The market is gradually evolving, creating a better balance between buyers and sellers. Scarcity of inventory continues to favor sellers, yet buyers can find reassurance in the return to conventional purchasing patterns that include mortgage, appraisal, and inspection contingencies. While the market remains highly active, sellers must prioritize that their homes are in optimal condition. Staging, updates and overall condition and maintenance should not be underestimated when listing and valuing the price of a home.

Condo Sales in Ridgefield followed the same pattern as single-family home sales with the decrease in the number of sales offset by a rise in median and average sales prices. We continue to see condos at all price points sell well due to their in-town or close to town locations.

In recent years, the luxury market, defined as sales exceeding $1.5 million, has maintained its prominent position. In the first half of the year, there were 21 luxury sales, which is higher than the 16 recorded during the same period in 2022. A 31% increase year to date compared to 2022. Notably, a $24 million equestrian property closed in April, 2023.

During the first half of 2023, there was a notable upward acceleration in prices, accompanied by a decrease in the number of unit sales. County-wide, sales experienced a significant decline primarily due to insufficient inventory. Median sales prices rose across the board. With far more buyers than listings, multiple buyers are competing for the same listings resulting in multiple offers at or above list. Geographically, Fairfield County benefits from its proximity to New York City and the quantity of buyers that continues to flow from the city into our markets.

In today’s unique real estate market, it’s more important than ever to work with a savvy professional who can get you to the closing table. Year after year, Karla Murtaugh Homes continues to be a top ranked team at all price points in Ridgefield, as well as Fairfield County. Whether buying or selling, contact us today to experience the Karla Murtaugh Homes Team difference.

To see the full market report, click here for the PDF or click here for the flipbook.

Your Ultimate Staycation Guide to Summer in Ridgefield

School’s out for the summer here in Ridgefield, and area families have certainly earned a relaxing season. No matter how much time you’re spending in the area over the next few months, we hope you’ll squeeze in some of these fabulous options for kids of all ages!


The Prospector Theater always has family-friendly movies playing including “Elemental” which just opened recently, and we love their snacks and drinks! Such a great place to visit all year round, especially considering their mission is to provide competitive and integrated employment to people with disabilities through the operation of a premium, first-run movie theater.
Learn more at https://www.prospectortheater.org/.


Make Music Day is this Wednesday, June 21st and Ridgefield will be holding performances at over 14 venues including Keeler Tavern, Cellar XV Wine Market and D. Colabella Fine Art Gallery! Learn more at https://www.makemusicday.org/ridgefield/listings/venues?fbclid=IwAR311Gj3uk92Xvl4kEOyQP94M1BETWlJv4gP3I_v38UrnP0aiGJCJWqf11A.


The Ridgefield Volunteer Fire Department Carnival also kicks off Wednesday, June 21st and goes through Saturday June 24th at East Ridge Middle School. Amusement rides, game trailers, food, ice cream, fried dough, cotton candy and souvenir sales will all be at the carnival site. The Fireworks Show will light up the sky on Friday, June 23rd at dusk. Learn more at https://news.hamlethub.com/ridgefield/events/75781-fun-and-games-at-ridgefield-vfd-carnial-june-21-24.


Join yoga instructor Sarah Zitnay in celebrating the beginning of summer! Ridgefield Parks & Recreation invites you to celebrate the northern hemisphere’s longest day of the year, Sunday, June 25, with an outdoor yoga class from 9:30 to 10:30 am. Learn more at https://news.hamlethub.com/ridgefield/events/75922-free-summer-solstice-yoga-in-ballard-park-on-sunday-june-25.


Be sure to check out Ridgefield’s Family Fireworks Celebration on July 2nd, a beloved annual tradition! Learn more at https://news.hamlethub.com/ridgefield/events/75848-family-fireworks-celebration.


CHIRP Concerts are fabulous, free events held right in downtown Ridgefield with an array of live music on Tuesday and Thursday evenings. Bring your dinner, drinks and a blanket or camp chairs to enjoy with family and friends! Head to chirpct.org for details.

Ridgefield Playhouse has a fabulous summer lineup with something for everyone, from movies to live music and so much more. Learn more at https://ridgefieldplayhouse.org/events/.


If you’re looking for a summer camp, there are a plethora of options in our area. Here are just a few:


Sometimes we take for granted that our area is home to plenty of parks, museums and playgrounds that you can check out year-round. Here are a few of our favorites:

  • Woodcock Nature Center in Wilton offers terrific hiking trails and camps. There is also a great guide on AllTrails that includes maps and photos of many options in Ridgefield. For details, click here: https://www.alltrails.com/us/connecticut/ridgefield
  • Ballard Park’s playground is fabulous especially this time of year and the gardens are just starting to bloom.
  • Stepping Stones Children’s Museum (https://www.steppingstonesmuseum.org/ ) and The Maritime Aquarium (https://www.maritimeaquarium.org/ ) are both located in Norwalk with plenty of programs for kids of all ages.
  • Ridgefield Library has a truly robust Summer Reading program that just launched this past weekend, plus a wide variety of other activities like Story Times (held outside in Ballard Park in nice weather!) and STEAM Corner for Kids. For details, click here: https://ridgefieldlibrary.org/
  • Grace Farm is a lovely spot to enjoy summer picnics, a blues concert with Harlem-based guitarist King Solomon Hicks, and opportunities to explore, create, play, and much more. Learn more at: https://gracefarms.org/summer-family-fun/
  • Deborah Anne’s Sweet Shoppe on Main Street will be open and is always an easy, fun outing way to get out of the house no matter how old your kiddos are! If you don’t feel like cooking, some of our favorite family-friendly restaurants are Gallo, 850 Degrees Wood Fired Pizza, Wooster Hollow Café, Dmitri’s Diner, Prime Burger, and BareBurger.

Check out the Ridgefield Hamlet Hub calendar for many more events happening on our area this week: https://calendar.hamlethub.com/?calendarId=21

Wishing everyone a fun and restful summer in Ridgefield no matter how you choose to spend it!

May Real Estate Market Snapshot

Ridgefield: The Year-To-Date real estate market for single family homes continues to showcase high demand. 86 single-family homes since January ranging from a $315,000 lake cottage to $24,000,000 for luxury equestrian property. Inventory has slightly increased, yet homes are still selling quickly. To date, there are 66 under deposit and scheduled to close in the coming month.

Wilton: 52 single-family homes have sold Year-To-Date ranging from a $400,000 ranch home to a mini estate selling for $3,258,000. Homes are still selling quickly and many with multiple offers. Several buyers are still in the market and interest rates do appear to be impacting our area. To date, there are 56 under deposit and scheduled to close in the coming months.

To download the latest Greater Connecticut Market Report, please click here.

To download the latest Fairfield County Market Report, please click here.

To download the latest Lower Fairfield County Market Report, please click here.

To download the latest Litchfield County Market Report, please click here.

Looking to buy or sell? Partner with us. What a spring it has been! At Karla Murtaugh Homes, we are excited to put our unprecedented market knowledge to work for you. No matter your price point, our team offers the same platinum level of service, and together with COMPASS – America’s #1 brokerage – we provide a forward-thinking approach to home ownership. Armed with the best in technology including instant access to COMPASS Search, a nationwide referral network of the most successful agents in the business, and extraordinary marketing, we are ready to help you make your next move. We recognize a home is your biggest asset, so whether you’re buying or selling this summer, don’t settle. Join us for an exceptional result!

Top Tips to Sell Your Home This Season

Selling your home can be a stressful and daunting task, but with the right preparation, you can ensure that your home is ready to sell and fetch the best price possible. It’s a fabulous time to leverage the busy spring real estate market. If you’re not sure where to start, here are some helpful tips on how to prepare your home to sell:


1. Declutter and Clean

The first step in preparing your home for sale is to declutter and clean it thoroughly. Remove any unnecessary items and clutter to make your home look more spacious and inviting. We love donating items to the Ridgefield Thrift Shop and ReStore Danbury, both very worthy causes that support the community we live in. Thoroughly clean all surfaces, including floors, walls, and countertops. Consider hiring a professional cleaner if necessary. We’d be happy to recommend one if you need!


2. Repair and Upgrade

Fix any minor repairs or upgrades that need to be done, such as leaking faucets or broken doorknobs. If your home needs major repairs or upgrades, consider hiring a professional to handle the work. Upgrades can include painting, new light fixtures, or landscaping to improve curb appeal. It can be overwhelming to try to find a contractor or handyman who can do the work in a timely fashion. We have several companies we’ve developed excellent relationships with over the years and they take excellent care of our clients.


3. Depersonalize and Stage

Remove personal items like family photos, collectibles, and personal memorabilia from your home. This allows potential buyers to visualize themselves living in the space, which is so important. Consider staging your home with neutral decor and furniture to create a welcoming and cozy atmosphere. This is just one of the services that Compass Concierge is proud to offer, which makes the selling process run so much more smoothly for our clients.


4. Price Your Home Accurately

One of the most important steps in preparing your home for sale is pricing it accurately. Research the local real estate market and work with a real estate agent to determine a fair and competitive price for your home. For over 20 years, the Karla Murtaugh Homes mission has been to provide a superior experience for our clients both through the utilization of our team’s knowledge and skills and by adhering to the highest standard of integrity. We have the experience to get you the best price for your home.


5. Market Your Home Effectively

We will work closely with you to create an attractive and engaging listing for your home, including high-quality photos and a detailed description. We will leverage cutting-edge Compass technology and national network to market your home effectively to potential buyers through online listings, social media, and other advertising channels.


6. Be Flexible and Available

Plan to accommodate potential buyers’ schedules and be available for showings as needed.


Getting your home ready to sell requires some effort and planning, but the results are worth it. With a little groundwork, you can make your home more appealing to potential buyers and ensure a smooth and successful sale.


If you’re thinking about selling, connect with us today at karla.murtaugh@compass.com or 203-856-5534. Happy Selling Season!

Celebrating Mother’s Day in Ridgefield

Run Like a Mother is a national 5K race series that happens across the U.S. on Mother’s Day Weekend. The mission of Run Like a Mother is to encourage, inspire and nurture our minds and bodies through forward motion whether it is walking or running. Now in its fourteenth year, it’s been an honor to watch the incredible evolution of this event celebrating the incredible moms of our community. I’m a proud sponsor and hope to see you there! You can still register the day of the race. Check out all the details: https://runsignup.com/Race/CT/Ridgefield/RunLikeaMotherRidgefield


Looking for a lovely Mother’s Day brunch option? There are so many fabulous restaurants in our area! Here are our top seven favorites:

The Lantern in Ridgefield: https://thelanternrestaurant.com/

Red Rooster Pub in Ridgefield: https://www.redroosterct.com/ridgefield

Redding Roadhouse: https://www.thereddingroadhouse.com/

Oak and Almond in Norwalk: https://oakandalmond.com/

Terrain in Westport: https://www.shopterrain.com/pages/westport-restaurant

McKinney and Doyle in Pawling, NY: https://www.mckinneyanddoyle.com/

The Inn at Pound Ridge: https://www.theinnatpoundridge.com/


A Look Inside the Spring Real Estate Market

Q: Is it too late to jump into the spring market?

A: Definitely not.

My phone is ringing off the hook. We’re in a lot of discussions about listing homes in the coming weeks. Many people realize there’s no better time than now if they’re going to jump in. Prices are holding and in some segments, they’re increasing because supply and demand is still driving this market. We’ve had a number of homes that just launched last week, a number of which received multiple bids. This demonstrates that there are still really good qualified buyers out in the market. This isn’t just in Ridgefield, either. Based on my discussions with Compass agents throughout Fairfield and Westchester Counties, they’re experiencing the exact same situation.


Q: Why is there such low inventory?

A: The dynamic we’re experiencing is called an “inventory-starved market.” There are a few reasons why. No one expected the impact Covid would have on the real estate market. Right before that happened, there were a lot of people who were getting close to the point in life where they would have had to figure out their next chapter and where they would want to move. Obviously, the pandemic had a huge effect on that nationwide, not just in our area.

This took a lot of people by surprise, and accelerated their decision on what their next move would be. For example, retirement plans were definitely affected for a lot of people and when they decided it was time to make a move, they ran into the same problem many people had. “Where do I go? What is the plan?” Many people are having this experience nationwide where there isn’t a lot of inventory including in destinations where people go from Connecticut, both points north and south, so it’s hard for people to move to different parts of the country as well.

People who migrated from New York to Connecticut didn’t know how long they’d be here for when they arrived. A lot of people predicted that once things went back to normal post-pandemic, those people would turn around and go back to the city. But we’re not really seeing that in Ridgefield. People love it here! So those houses aren’t coming back on the market the way some people thought.


February 2023 Connecticut Market Snapshot

February continues to find housing inventory a challenge. There are plenty of buyers and homes that are in good condition are selling quickly. At Karla Murtaugh Homes we are here to provide valuable insights so you can stay educated and informed when planning your next move. I’m pleased to share Compass’ February 2023 Connecticut Market Snapshot, highlighting the prevailing trends shaping the market. Connect with me for more information.