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.

DOWNLOAD THE FULL REPORT HERE

http://108.179.243.173/~d5o7l0g4/wp-content/uploads/2015/07/2015-Mid-Year-Review-Letter.pdf

Ridgefield Market Report for January 2015

The single family home real estate market in Ridgefield for January 2015 has started out strong with an increase in the number of properties sold, number that went under contract, and number of new listings available compared to January 2014. The median home sales price, however, dropped 14.4% when compared to the same time last year.

MEDIAN SALES PRICE and CLOSED SALES
January 2105 saw the median sold price of a property in Ridgefield decrease from $707,500 during the same time last year to $619,500 this year. This represents a 14.4% drop. The number of closed sales actually increased to 18 in January 2015, compared to 16 during the same time period last year.

PROPERTIES UNDER CONTRACT
Reflecting continued strong interest by buyers, the number of properties under contract increased by 42.9% over the same time period last year, with 30 properties entering escrow compared to 21 last year.

DAYS ON MARKET and INVENTORY
The Average Days On Market decreased in January 2015 with properties spending an average of 123 days as compared to 204 days during the same time last year. The months supply of inventory has also decreased to just 8 months, down from 12.3 months during the same time last year.

NEW PROPERTIES FOR SALE
The number of new properties listed in January totaled 49, which is up from last year’s 43 properties.

For a full graphical analysis of Ridgefield’s January 2015 real estate market, click here. You can also take advantage of my complimentary Comparative Market Analysis to find out what your home’s worth.

http://108.179.243.173/~d5o7l0g4/wp-content/uploads/2015/02/KMMReport-Jan-2015.pdf

Ridgefield Market Report : Year in Review 2014

Holding Our Own

Diverse weather conditions delayed the 2014 Spring Market nearly 8 weeks, which was extremely difficult to recapture. Even though our unit sales volume fell short 14.7% when compared to the record 2013 sales levels, I feel we were able to protect much of the gains made. This forward movement also seems to be continuing as we enter the 2015 Spring Market. We must remind ourselves that 2014 posted the second best sales figures seen in Ridgefield over the past seven years.

Despite the decline in units, we experienced an increase of 1.8% in Median Sales Price, which supports our prediction for slow, steady growth going forward. This slight up-tick also suggests that there are more buyers in the market at higher price points.

Great Expectations

2014 proved that the market continues to be driven by value, therefore proper pricing is critical. Today’s buyer also measures value based on the condition of the home. Buyers respond most positively to homes that have been updated and are in pristine condition. The foundation of Real Estate is built upon the principle of “supply and demand.” There have been many examples this year, across a number of price points, demonstrating that when a home is in absolute turn-key condition, recently updated, and in a desirable location, multiple offers can be expected. Close-to-town properties continue to be particularly popular and tend to sell more quickly and at a higher price per square foot.

Positive Outlook

With increasing consumer confidence and strong financial indicators, I am optimistic that 2015 will continue the trend towards market stability and increased values. The recent dip in mortgage rates should bring more buyers into the market, especially as banks start to loosen credit and offer more programs for well qualified people.

DOWNLOAD THE FULL REPORT HERE

http://108.179.243.173/~d5o7l0g4/wp-content/uploads/2015/01/150101-2014-Year-in-Review-v9OL-LETTER.pdf

Neumann Real Estate Leads The Way In Ridgefield Sales

Once again, Neumann Real Estate – Christie’s dominated the Ridgefield real estate market closing $162,947,834 in sales and exceeding the closest competitor by more than $86 million. Neumann Real Estate- Christie’s also leads the competition with 180 closed transactions, outpacing the nearest competitor by 78 sales. Also of note, in terms of closed sales volume, three out of the four top producing agents – including myself – are with Neumann Real Estate.

For more information about what the Neumann Real Estate – Christie’s partnership can do for you, contact me for a comprehensive free market analysis of what your home’s worth. Don’t miss out on an opportunity to list or buy with the best!

http://108.179.243.173/~d5o7l0g4/wp-content/uploads/2015/01/150101-NRE-stats-OL.pdf

Once In A Lifetime Opportunity To Tour Deer Run

OPEN HOUSE

26 Giles Hill Road, Redding, CT 06896

Sunday, November 9, 1:00-4:00pm

Fabulous Mission Style Manor Home Resides on Pristine Farmland and Connecticut Forest

Under big skies… 1 hour from NYC… 300 breathtaking acres…
Scenic vistas, a lake for boating and fishing, age-old cattle trails, stonewalls, and pristine forests make this unique offering unmatched anywhere in Fairfield County, Connecticut. Whether you want to stable horses, raise cattle, design your own executive golf course, cultivate a vineyard, or simply live a life of peace and splendor, Deer Run’s 300 ranch acres are the answer. Historically used as a cattle-grazing farm, deep stonewalls line the 130 acres of fertile pasture, while hiking and riding trails meander through the additional 170 acres of timberland and orchards. A 7-acre lake, boathouse, and naturally occurring ponds and water sources dot the property. The private, 7 bedroom, 9 bath Mission-style Manor home was designed to permit distant views from every room, and provides numerous indoor and outdoor amenities such as indoor and outdoor pools, an indoor basketball court, tennis court and a billiards room. Caretakers quarters available. Consisting of five land parcels, acreage options and subdivision possibilities exist. Don’t miss out. Join us for this fabulous opportunity!!

AT-A-GLANCE

A Day In The Country – 8 Exquisite Ridgefield Estates

Calling all brokers!
On Wednesday, May 21st, join me for a Spectacular Broker Event celebrating eight of Ridgefield’s most beautiful properties. Two of my incredible Ridgefield Estates will be featured.

KING MANOR
44 King Lane
10:00am -12:30pm
This beautifully updated & expanded residence sits elegantly behind its distinctive stone wall. featuring 8,500 Sq.Ft. of refined living space including a spectacular gourmet kitchen, family room with exposed beams, handsome library, incredible billiards room, master bedroom suite with His & Her baths, 5 ensuite bedrooms, exceptional wine cellar, fitness studio, gunite pool, distinctive landscaping & more!

STRAWBERRY RIDGE
109 Old Branchville Road
1:30pm – 4:00pm
A perfect blend of classic & modern design with an open floor plan featuring floating walls, dramatic vaulted ceilings & an abundance of windows in a sophisticated mix of high quality woods & stone. Rebuilt in 2001, the home includes sophisticated formal spaces & comfortable private rooms. Features a half-mile walking trail, spectacular indoor & outdoor pools, 7.58 acres, guest house, tennis court & terraced outdoor living room. The perfect marrying of romantic classicism with modern minimalism, this zen- like masterpiece is simply magnificent!

Click here for a description of all of the magnificent properties on the tour, and a map of the event.

Copper Beech Farm Sells for $120 Million

We are proud that Christie’s Exclusive Affiliate, David Ogilvey & Associates, has brokered the largest transaction in U.S history for a single-family home, showing once again that Christie’s International Real Estate and its affiliates have the widest reaching marketing program in the world. As an Exclusive Affiliate ourselves, Neumann Real Estate takes advantage of this incredible resource as well, reaching out to our other affiliates and marketing our properties to an incredible scope of people.

Copper Beech Farm, the magnificent estate situated on more than 50 waterfront acres in Greenwich, Connecticut, has sold for $120 million to an undisclosed buyer. Offered by David Ogilvy & Associates with international marketing services provided by Christie’s International Real Estate, the sale represents the largest transaction in U.S. history for a single-family residential property.

This property with spectacular views across Long Island Sound is the last waterfront parcel of its size in Greenwich or anywhere along the coast from Greenwich to New York City and boasts a rich and distinguished history. Built in 1896, it was purchased by the Lauder Greenway family, co-founders of U.S. Steel with Andrew Carnegie who lived there for 75 years. Their heirs sold it in the 1980’s and it has been used as a weekend retreat since then.

“High-end sales at this end of the spectrum are compelling indicators of the continued growth of the luxury residential real estate market,” said Kathleen Coumou, Senior Vice President of Christie’s International Real Estate. “I congratulate David Ogilvy on this splendid achievement.”

“We’re delighted to have listed and sold this incredible property,” said David Ogilvy. “Copper Beech Farm is the ultimate waterfront property in Greenwich on the fabled Connecticut coast and there simply are no more in existence like it. The property’s new owners will truly enjoy the total privacy, exclusivity, and unparalleled waterfront location just 45 minutes from New York City.”

From its vantage point 40 feet above mean high water, the main residence offers panoramic vistas across Long Island Sound including Island Beach, a public offshore island park given to the town by the Lauder Greenway family. The estate also includes two offshore islands and together, the property has almost a mile of shorefront. Copper Beech Farm is easily reachable from New York City by car or train in Greenwich, has easy access to all major New York airports and is a short drive from Greenwich’s many world-class shops, restaurants, schools, and recreational offerings.

Although not quite in the same price range, Ridgefield has some incredible luxury properties on the market as well. Some of my own offerings are Strawberry Ridge, Deer Run, Homewood Estate and 44 King Lane. If you’re in the market for a luxury home in the area, start your search here or contact me.

How Do You Know You’re A Luxury Real Estate Agent?

For me, a key indicator of my achievement as a luxury realtor was to receive the distinction of being awarded “Christie’s International Real Estate Luxury Specialist for 2014.” I was honored to be the recipient of the Christie’s International Real Estate and Christie’s Education specialist designation when I recently attended the Top Agents Conference in Scottsdale, Arizona.

Along with 140 other Realtors from around the world, I was lucky enough to be invited by Christie’s International Real Estate to participate in the conference focused on luxury real estate marketing. Criteria for the invitation included a requirement that each attendee be among the top 10% of sales for his or her Affiliate brokerage.

The two-day networking and educational event featured seminars led by top industry experts and senior executives of Christie’s and Christie’s International Real Estate. Topics included how to position a listing to attract buyers worldwide; negotiation strategies in the luxury end of the real estate market; how to take advantage of state-of-the-art global marketing techniques; and Christie’s perspectives on the art market and its connection to the luxury real estate sector.

I’m looking forward to implementing the new concepts and strategies garnered from my experience at the conference. My recent 2013 Year In Review Market Report showed that in 2013 Ridgefield experienced almost double the number of sales of luxury homes as compared to 2012, and I expect this segment to also show steady growth as the overall market value increases in 2014. I’m always striving to improve my knowledge and my marketing options for my clients, so this conference really gave me a leg up – networking with like-minded individuals and expanding my horizons in terms of marketing.

I’m so pleased to have had this opportunity. As the spring market gets going, call/text me or sign up for my weekly emails to keep abreast of market trends. I’d also be happy to give you a complimentary What’s My Home Worth evaluation.

*Photo : Karla Murtaugh of Neumann Real Estate, Ridgefield, and Lisa Murphy of Houlihan Lawrence, Rye

2013 – One Of Christie’s Best Years In History

We are proud to be partnered with such a forward-thinking and successful company as Christie’s. The luxury auction house is going strong, and the real estate arm – Christie’s International Real Estate – is great supporter of the luxury real estate market through their Bespoke program and other marketing initiatives.

In terms of the parent company, Christie’s announced sales of £4.54 billion ($7.13 billion), up 16% for the year ending December 2013. This figure is the highest sales total for Christie’s or any auction house in the history of the art market. Christie’s sales figures were driven by an increase in new buyers across all geographies coming to the market, including from growth markets such as China and through the Internet. Thirty percent of buyers were new in 2013 and accounted for 22% of the sales total.

Strong results were recorded in all regional sites during 2013, with significant activity in Asia driven by strong Hong Kong sales, up 32% and the company’s historic expansion into mainland China through its Shanghai office. The growth in new clients from China and the potential of this area of the art market was reflected in the firm’s highly successful inaugural Shanghai sale, which totaled £15.5 million ($24.9 million). Sales in Europe totaled £1.33 billion ($2.1 billion), Americas totaled £1.8 billion ($2.8 billion) and Asia totaled £622.6 million ($977.5 million). The increasing power of the Chinese buyer in the global art market was also evident with Chinese buyers accounting for 22% of global sales, a 63% increase on spend during 2012. Christie’s also expanded into India in 2013 and held its first sale in Mumbai in December, which realized £9.4 million ($15.4 million), more than doubling pre-sale expectations and attracted new buyers, including 35% who had never done business with Christie’s.

Steven P. Murphy, Chief Executive Officer, Christie’s, said: “With 16% sales growth and 30% new buyers coming in 2013, Christie’s has succeeded again by focusing on the art and connecting it to the ever-increasing audience of enthusiasts and collectors. We continue to see a surge in interest across categories and across the globe, fuelled in large part by the online platform enabling greater connectivity between buyers, sellers and the objects of their pursuit. Our strategy to invest in new markets such as China, new channels such as Private Sales and online sales, and to build on our position at the leading auction house, has enabled Christie’s to grow. Our continuing goal is to provide more to our clients and to convene new clients to enjoy art, be it through auctions, exhibitions or online.”

For information on how we partner with Christie’s on their Bespoke marketing initiatives, or how we can help you market your luxury property to protective buyers, contact me for a personalized consultation. For more market news delivered directly to your inbox each Friday, sign up below.

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