Ridgefield High School Ranked #317 Nationally, #4 in Connecticut

The 2019 U.S News & World Report has released its 2019 Best High Schools Ranking Report and Ridgefield High School shines again!

Nationally, the school ranked 317th out of a total of 17,245 public, magnet and charter schools throughout the country. It also sits in 4th position in Connecticut behind Darien High School (#1), Weston High School (#2) and Achievement First Hartford Academy Inc. (#3).

To create the STEM rankings, the top 1,000 ranked schools from the national rankings were evaluated for their AP test-taking students’ participation and success in AP science and math exams. Ridgefield High School ranks 176th nationally for STEM.

The Best High Schools rankings identify the country’s top-performing public high schools. The goal is to provide a clear, unbiased picture of how well public schools serve all of their students – from the highest to lowest achieving – in preparing them to demonstrate proficiency in basic skills as well as readiness for college-level work.

According to the U.S. News Best High Schools methodology, schools were rated on the following six measures, and the weights used for each indicator are in parentheses:

College readiness (30% of the ranking) : The percentage of 12th graders from the class of 2016-2017 who took at least one AP or IB exam during high school and the percentage of 12th graders who passed at least one AP or IB exam in high school. Passing is weighted three times more than taking.

College curriculum breadth (10%): The percentage of 12th graders from the class of 2016-2017 who took a wide variety of AP and IB courses across the multiple disciplines and the percentage of 12th graders who passed them. Passing is weighted three times more than taking.

Reading and math proficiency (20%): Measures how well students scored on state assessments that measure proficiency in reading and mathematics. Passing these assessments can be required for graduation. Examples of assessments include Smarter Balanced in California and STAAR in Texas.

Reading and math performance (20%): The difference between how students performed on state assessments and what U.S. News predicted based on a school’s student body. U.S. News’ modeling across all 50 states and the District of Columbia indicates that the proportions of students who receive subsidized school lunch, are black and are Hispanic are highly predictive of a school’s reading and math scores.

Underserved student performance (10%): How well the student population receiving subsidized school lunch, and black and Hispanic populations perform on state assessments relative to statewide performance among students not in those subgroups.

Graduation rate (10%): For the 2019 rankings, the graduation rate corresponds to the 2017 graduation cohort who would have entered ninth grade in the 2013-14 school year. The high school graduation rates were collected directly from each state along with the math and reading assessment data.

Ridgefield Real Estate Market Report Q3 2019

The third quarter of 2019 – reflecting activity during the summer months – was a little slower than anticipated. However, anecdotally it has been busy fall and we hope to finish the year strong posting sales that are similar, or even above those of last year.

In year-to-date figures, the number of properties that sold is reported at 257 compared to 262 last year. Overall, a total of $180,307,075 transacted by the end of Q3 2019 in contrast to $187,318,490 by this time in 2018. Total Sales Volume was down 2%, and Median Sales Price also showed a slight decrease from $640,630 in 2018, compared to $635,000 currently. However, in anticipation of Q4, there are already 28 homes with accepted offers and 17 under contract set to close. There are 247 properties actively for sale at this time, and with new homes launching on the market daily, we expect sales to continue to rise over the coming months.

In Q3 figures itself, the number of sales stayed similar at 108 in Q3 2019 compared to 113 in Q3 2018. The average days on market has taken a slight jump this year to 125, up from 99 last year. The average sales price decreased 7.5% this quarter compared to the same time last year and sits at $715,638. The median sales price dropped to $650,000 from $670,000. Homes are still selling at 96% of the listed value.

In mortgage news, 30-year fixed mortgage rates have remained at record lows, sitting at just under 4%, which bodes well for buyers entering the market. Our strongest sales so far this year have been in the under $800,000 range for single-family homes. Unfortunately, the luxury market is not as strong as in 2018 with only 5 properties sold over $1.5 million YTD as compared to 12 by this time last year.

As we move into the busy buying season prior to the Holidays setting in, I am optimistic by the amount of activity we have seen in the market in just the first few weeks of Q4. If you are interested in listing your home for sale before the end of the year – or picking up an end of year purchase – we would love to learn more about your needs. Contact us today.

To see a snapshot by price, click here.

To see how 2019 shapes up against 2018, click here.

Main Floor Master Suites- A Trend For Aging In Place

As baby boomers age and take advantage of increasing options for aging in place such as 55+ communities, in-home care and multi-generational living, the need for single-level living is getting greater. Typically, retirees and empty-nesters have been gravitating to smaller, single-level homes with master suites on the main floor.

As Realtors, we are seeing not just the main floor master take center stage, but also requests for high-end, top quality and more manageably-sized homes. On-trend bathrooms and kitchens with professional appliances, high ceilings, moldings and trim work, as well as unique design features on a smaller scale are finding their niche and drawing interest.

If you have been thinking about your next step as your children fly the coop, you might want to check out some of these homes with main floor master suites that are currently on the market.

28 Whipstick Road – Stylish Cape in lovely setting. Gourmet white kitchen open to vaulted family room, main floor master suite, 3 additional, generously-sized en suite bedrooms on upper level + large bonus room, finished lower level and a guest suite. Offered for sale at $1,045,000. Learn more.

400 Silver Spring Road – Vintage charm in a spectacular setting! This restored & expanded 3 bedroom home joins a separate one-room studio + a 3-car barn with an unfinished loft that would make the perfect guest house, all on a sweeping 4.6 acres of level lawns & spectacular landscape. Offered for sale at $1,095,000. Learn more.

41 Peaceable Street – Walk to town from this updated, 1920s rambling Colonial gem. Beautiful setting with 2 park-like acres + private plunge pool. Newly updated chef’s kitchen, incredible great room + sunroom, amazing main floor master wing with dressing & sitting rooms, private patio & exquisite bath. 3 additional bedroom ‘suites’ plus separate apartment with kitchen, living space, bedroom & bath for live-in help/caretaker. Sophistication at every turn. $1,895,000. Learn more.

Or, as an alternative, try an in-law apartment or guest house.

135 Old Branchville Road – Gorgeous, rambling, open concept home with 6 bedrooms, 5/1 baths, spectacular floor- to-ceiling stone fireplace + fabulous, expansive 1 bedroom guest house with kitchen, vaulted great room, full bar, fireplace and full bath. Serene 5.74 acres in South Ridgefield. $995,000. Learn more.

71 Old Branchville Road – Unbelievable value! Over $2MM invested. Gourmet kitchen, 6 bedrooms, in law/au pair apartment with separate entrance and alarm, full kitchen, living room, bonus room + bedroom and full bath. Over 4 acres of lovely grounds in South Ridgefield. Priced way below market value. Subdivision possibility. Offered for sale at $945,000. Learn more.

34 Salem View Drive – Fabulous opportunity to enjoy a beautiful 5 bedroom Colonial + a 1 bedroom, 1.5 bath cottage with a full kitchen, living room, deck with gorgeous views, laundry & its own garage and storage. Rental income opportunity. Incredible views with unbelievable saltwater pool & terraced entertaining area. Very special! Offered for sale at $1,295,000. Learn more.

Karla Murtaugh Named One Of America’s Best Realtors

REAL Trends and Tom Ferry International released its list of the 2019 America’s Best Real Estate Professionals and Karla Murtaugh, a licensed realtor with Neumann Real Estate/Christie’s International Real Estate in Ridgefield, made the list for both the number of transactions she closed in 2018, and for her total sales volume during the same period.

The list ranks the most productive agents by state and metropolitan area based on closed transaction sides and closed volume. To qualify for inclusion, an individual agent must have closed at least 50 transaction sides or $20 million in sales volume in 2018.

In Connecticut, a total of 93 agents qualified for the list based on their sales volume, and 68 by the number of closed transactions. Ms. Murtaugh ranked #7 for volume closing 54 transactions.

“We are so proud of Karla and what she brings to this office. Her commitment to the profession, along with her high ethical standards and incredible work ethic provide the perfect combination for her success,” said Russ Neumann, broker and partner at Neumann Real Estate. “There is no one more deserving of this recognition.”

“Those individual agents and teams who make up the 2019 America’s Best Real Estate Professionals represent less than 1.5 percent of all Realtors® in the country yet account for over 12 percent of the closed transactions and more than 22 percent of all the sales volume closed last year,” says Steve Murray, president of REAL Trends.

The rankings are compiled based on surveys from virtually every national branded network, many state and local associations of Realtors®, multiple listing services, all applicants from past years’ rankings, and the 900 largest brokerage firms in the United States. Verification from an independent source is required for all submissions.

Why Now Is A Good Time To Buy A Home

According to Keeping Current Matters, whether you are a first-time buyer or looking to move up to the home of your dreams, now is a great time to purchase a home. Here are three major reasons to buy today.

1. Affordability
Many people focus solely on price when talking about home affordability. Affordability is determined by three components:

Price
Wages
Mortgage Interest Rate

Nationally, prices and wages are up, and interest rates have recently dropped dramatically. As a result, the National Association of Realtors’ (NAR) latest Affordability Index report revealed that homes are more affordable throughout the country today than they were a year ago.

2. Mortgage Rates

Mortgage rates have dropped almost a full point after heading toward 5% last fall and early winter. Currently, they are below 4%.Additionally, Fannie Mae recently predicted the average rate for a 30-year fixed mortgage will be 3.7% in the second half of 2019. That compares to a 4.4% average rate in the first quarter and 4% in the second quarter.

3. Increased Family Wealth
Homeownership has always been recognized as a way to build long-term family wealth. A new report by ATTOM Data Solutions reveals:

“U.S. homeowners who sold in the second quarter of 2019 realized an average home price gain since purchase of $67,500, up from an average gain of $57,706 in Q1 2019 and up from an average gain of $60,100 in Q2 2018. The average home seller gain of $67,500 in Q2 2019 represented an average 33.9 percent return as a percentage of original purchase price.”

The longer you delay purchasing a home, the longer you are waiting to put the power of home equity to work for you. While we haven’t seen short-term gains in some price points in the Ridgefield market, in the long run, real estate is generally a safe bet to build equity and wealth.

For more information about the Ridgefield Real Estate Market, check out our mid-year report available here.

*Originally posted on Keeping Current Matters

Ridgefield’s 2019 Mid-Year Market Report

Ridgefield Market Snapshot
Ridgefield single family home sales are on par when compared to the same time last year. 150 homes sold during the first six months of the year, as compared to 147 in 2018. The median sales price stayed exactly the same at $625,000, while the total sales volume made modest gains ending the mid-year 4.5% higher than 2018 at $104,368,182. Even going back to 2017, we have seen the number of sales and the median sales price remain essentially flat, while the overall sales volume has fluctuated from a high in 2017 of $125,473,815 to a low in 2018 of $99,906,250.

While the median sales price remained the same year over year, we saw gains in the average sales price, which bodes well for the market as it indicates a general increase in what buyers are willing to pay. Year-to-date the average sales price was $695,788 – a 3.8% increase over the 2018 price of $670,512. This may sound modest, but considering 2017 had a high of $704,797, it indicates we are trending in the right direction. The months of inventory was slightly lower fluctuating between 8 and 15 months, while the list to closed price ratio was up over previous years at 96.7%.

The Luxury Market
Luxury market sales in Ridgefield – defined as homes selling for $1.5 million and above – have seen a huge uptick since this time last year, and in fact, are the strongest we’ve seen since 2016. There have been seven sales to date, compared to only one in 2018, two in 2017, and nine in 2016, while other Fairfield County towns, generally known for their luxury market, have flattened and reported less than stellar results so far this year. Traditionally, demand for these properties is strongest towards the end of the year so we hope to see this segment of the market continue to do well. There are currently an additional three homes under deposit set to close in the next few months and we’ve noticed that in the higher price points it is the motivated seller who is seeing the best results in the least amount of time.

Fairfield County Snapshot
The results are truly mixed for Fairfield County as a whole in the first half of 2019. Overall, median sales price was down throughout the county, as was total sales volume, but the number of unit sales increased in many towns. Traditionally strong commuter towns such as Darien and Greenwich had opposite results with Darien showing an increase in unit sales but the greatest decrease in median sales price in the county, and Greenwich showing an in increase in price but a decrease in the number of sales. Westchester County has also seen a decrease overall in the number of unit sales with median and average sales values down across the board. Looking ahead, we hope to see a more balanced market with supply and demand bringing prices back into alignment.

Looking Ahead
The spring market never seemed to materialize but we are seeing an increase in activity in the early summer months. Buyers continue to be in the driver’s seat in 2019 and sellers would be wise to make sure that their home is show ready before listing it for sale. Now, more than ever, it is important that these properties check off as many of the buyers’ boxes as possible. We continue to see in-town properties and those sporting the latest design trends garner top dollar. Inventory for small to medium-sized homes that are in turn key condition continues to be a challenge as baby boomers looking to downsize, and millennials looking to buy their first home, often overlap in what they desire. We are cautiously optimistic that Ridgefield Real Estate will remain steady. We are seeing 63% of sales coming from the purchase of homes under $700,000 indicating middle-class earners continue to find Ridgefield a desirable place to live with its access to great schools, major urban centers and exposure to a vibrant arts and leisure community.

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How’s The Spring Market?

How’s The Spring Market?

That seems to be the most asked question in Ridgefield Real Estate this year. And my answer is – it’s pretty much the same as last year. Although anecdotally Realtors feel like it’s been a slow spring due to all the rain, in reality the stats reflect the same number of house sales as at this time last year, with Median Values down about 4% , and Average Sales Price up over 5% year to date.

To see an overview of how May 2019 looked, you can click for a snapshot of the market.

Number of Sales & Sales Price

The number of Closed Sales year to date is 106 in 2019 vs 103 in 2018. In May, we saw 30 properties close as compared to 27 in 2018. The Average Sale Price in 2019 is $707,255, while it was $670,512 in 2018. This represents an increase overall of 5.5%. May showed an Average Sales Price of $674,884, with $678,931 last year.

In terms of Median Sales Price, 2019 showed a median of $600,500, which is down 4.3% over 2018 during the same period. In May, the price also reflected a downward trend of 3.6% with the median value sitting at $627,500 as compared to $651,000 in 2018.

Looking ahead over the next couple of months, Ridgefield single-family homes have experienced an increase in the number of homes going under contract; far exceeding this time last year. Currently, in May we have almost doubled the number of homes in contract compared to last year at 71, compared to 36 at this time last year. Year to date, there are 173 homes that have entered contract, as compared to 127 last year.

Days on Market & Inventory

The number of New Properties For Sale since the beginning of the year sits at 384 in 2019 as compared to 334 in 2018. In May we saw a 47% increase in the number of new homes listed for sale with 119 entering the MLS compared with 81 last year.

Even with the large number of new listings, the Months Supply of Inventory is 48% lower than in May 2018 with only 5.6 months available.

Moving Forward

With the large number of properties currently under contract and the run of better weather, we hope to see a continued upward trend in the number of sales. Values seem to be flat but we are still experiencing multiple offer situations on properties that are priced properly and meet buyers expectations – some changeable, some not. Properties in town are commanding a higher price and selling quicker than those further out (not changeable) and homes that are renovated and updated in today’s trends are also more competitive (changeable).

If you would like to find out what your home is worth or how we can help you get it ready for sale, don’t hesitate to contact us.

Click here to see a price breakdown of the Ridgefield Real Estate Market.

May Market Snapshot
May 2019

Breakdown By Price

A Rare Find – Homes For Multi-Generational Living

With more families experiencing multi-generational living, either because college-age children move home or parents come back into the picture, it’s often hard to find housing that can accommodate these changing needs. For some, it’s not even necessarily family but rather nannies and au paire’s requiring a separate space. Here are some wonderful Ridgefield homes currently on the market that can help everyone live in harmony in their own space.

34 Salem View Drive

Listed for $1,375,000. Featuring a beautiful approach in Ridgefield’s equestrian neighborhood the property includes a stunning five bedroom, Heritage Homes-built Colonial home, plus a 1,534 square foot, one bedroom residence on the same parcel. The stately main residence features a handsome library; living room with a fireplace; formal dining room with a huge rear wall of picture windows; a newly updated, white eat-in kitchen & a spectacular, vaulted family room with exposed beams, a brick fireplace, custom built-in cabinetry & a floor-to-ceiling Palladian window with views to the nearby cottage. The upper level has a huge master suite & sitting room, walls of closets & a spacious master bath. Three additional large bedrooms have access to private or Jack & Jill baths. The expansive finished lower level includes a rec/playroom, exercise room, fifth bedroom & full bath. The charming one bedroom cottage includes a large living room, kitchen, dining area, powder room and bedroom with full bath & private deck, as well as laundry, mudroom, 1-car garage & full attic for tons of storage. The grounds are second-to-none with a saltwater pool, large pool deck, terraced dining area, outdoor fireplace & outdoor kitchen. Landscaping includes stone walls, mature perennials & all manner of trees. The sweeping lawns provide a perfect place for picnics in the summer & sledding in the winter & the views go on forever. This oasis is just minutes from major commuting routes down county & to NYC, as well as all manner of shopping & conveniences.

74 Norrans Ridge Road

Listed for $1,150,000. Elegant living close to town with an in-law suite, level yard & additional barn/garage, this property also features a new roof, propane furnace, generator, Nest thermostats and more, making it the picture of efficiency. Tucked away in the sought-after community of Norrans Ridge, the residence features a spacious open floor plan & includes a formal living room with large divided-light windows, dining room, eat-in kitchen with professional appliances, a large island, breakfast bar & adjoining breakfast room with a spacious pantry. A vaulted family room has a gorgeous gas fireplace & exposed beams plus a wet bar to a private office with deck access. Upstairs the master suite has a walk-in California closet & spa-like bath with a soaking tub & oversized shower plus three additional bedrooms & a full bath. The finished lower level has both gaming & media rooms and an incredible wine room with an electric fireplace. The attached 3-car garage leads to a laundry room & a separate entrance to an in-law/au paire suite with a bedroom, living & dining area, updated bath & a kitchenette. An additional, detached, heated two-car barn/garage has room for two-lifts for the avid car collector & also functions as a sports room, golf simulator, hockey room, indoor basketball court, artist’s studio, or whatever is desired! The spectacular, level yard is awash in colorful plantings with hydrangeas & peonies galore. An abundance of large trees also serves to create a sense of privacy. Tons of space in a fabulous location!

71 Old Branchville Road

Listed for $1,095,000. Sophisticated & stylish country retreat just over 1 hour from NYC. This home is classic Connecticut with a twist, this home has been completely renovated by area restoration specialists & finished with the latest design trends, while preserving amazing original details such as vintage beams and built-ins. Spanning over 7200 square feet on four finished floors the home includes casually elegant formal spaces, a fabulous chef’s “white” kitchen with professional appliances and a large breakfast room, butlers pantry with 2nd dishwasher and custom cabinetry, wonderful music room, family room, five ensuite Bedrooms + an amazing master suite with a spa-like bath, His/Hers dressing rooms, sitting room & private study. In addition, a home gym, spacious laundry room and lower level lounge with fireplace & bar, plus an expansive finished attic complete the main house. Off the main level, a one bedroom in-law/Au Paire apartment includes a kitchen and living room, full bath and dining area, as well as a separate entrance and independent security system. The tranquil, natural setting includes sweeping lawns on 4+ private acres with a pond and lovely landscaping. Newer windows, plumbing, electric, boiler, AC, insulation and well. Great south Ridgefield commute location and every amenity for modern living. A fabulous residence for entertaining year round can be yours full-time or the ultimate weekend retreat. Originally listed for $2,795,000 this home is truly special! Can subdivide a two-acre parcel if desired.

If any of these homes catches your eye, reach out for a private showing by calling us at 203-856-5534 or via email.

The Wall Street Journal Spotlights Private Library of Jay Walker, Quotes Ridgefield Realtor Karla Murtaugh

Ridgefield’s Hamlet Hub spotlighted Karla Murtaugh Homes this week after we were featured in this week’s Mansion Section of the Wall Street Journal!

As per the Hamlet Hub – The Walker Library of the History of the Human Imagination, an awe-inspiring library located inside the Ridgefield home of Jay and Eileen Walker was featured in Thursday’s Wall Street Journal in a piece titled, “Private Libraries That Inspire”. What’s more, the writer, Katy McLaughlin, shares the real estate expertise of Karla Murtaugh agent with Neumann Real Estate and Christie’s International in Ridgefield who said that libraries can provide a hook for a buyer with an intellectual or scholarly aptitude.

According to the Walker Digital website, the library, constructed in 2002, boasts 3,600 sq. ft. multi-level tiers, “floating” platforms, connecting stairways, glass-paneled bridges, dynamic lighting and music, and specially commissioned artworks that celebrate major achievements in the history of human invention.

“The Walker Library of the History of Human Imagination celebrates humanity’s intellectual and emotional adventure of discovery, learning, and creativity by showcasing thousands of rare books, artworks, maps and manuscripts as well as museum-quality artifacts both modern and ancient,” Walker Digital says.

“It is designed to be intentionally disorienting,” Walker told WSJ writer, Katy McLaughlin.

McLaughlin digs into the passion that fuels some of the world’s most fascinating literary collectors, and examines the arduous task of designing, building and maintaining a library capable of housing some 25,000 collectible books.

Walker’s personal collection is not just for him to enjoy, the WSJ reveals Walker’s philanthropic use of the library for school tours and to help raise funds for local nonprofits.

McLaughlin writes, “The Walker Library of the History of the Human Imagination is a dramatic example of the rarest of residential amenities: A vast, personal, custom-built repository of intellectual stimuli. In the age of the e-reader, it is a status symbol on par with wearing a Patek Philippe watch when the cellphone already tells the time.”

Read the article in its entirety and view images of The Walker Library of the History of the Human Imagination, on The Wall Street Journal online here.

*Image courtesy Walker Digital