Coming off a stellar year in 2020, Ridgefield real estate sales continue to impress. With numbers far exceeding 2020’s incredible start to the year, 2021 promises to again post increasing prices and decreased sales times, as long as we can procure the inventory to keep the market moving. With a wealth of qualified buyers waiting in the wings for the perfect house, now is the time to jump into the market if you’ve been contemplating a move.
Prices & Volume
The number of sales in January 2021 exceeded 2020 by 48% with 34 homes sold as compared to 23 in January 2020. There was a rise in overall sales volume as well, with 2021 seeing $30,591,500 sold in the first month of the year compared to $19,658,000 in 2020. The median price this month was where the steepest overall gains were seen with a sales price of $856,000 vs $620,000 in 2020. The average sales price rose from $854,696 to $899,750 this year.
Inventory & Days On Market
In an unprecedented first, the available inventory has dropped to 3 months! In comparison, at this time last year there was 8 months of available inventory on the market. In addition, the days a house remained on the market before entering contract currently sits at 59 days as compared to 132 days in January 2020. For a breakdown by price point of recent sales, see the chart below or DOWNLOAD the chart.
Now Is The Time To Sell
With a continuing number of buyers looking for privacy, space and the suburbs, it’s certainly a good time for sellers. Buyer demand is at an all time high and there is very limited inventory. To find out what your home is worth or for a complimentary consultation, please reach out to us at firstname.lastname@example.org or call 203-856-5534. We’d love to discuss our outstanding marketing campaigns and platinum level of service.