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Inventory Is Increasing, But It’s Still A Seller’s Market

Spring is here, and it’s a fabulous time to list your home! If you’ve been on the fence about selling, we understand. It’s been a tumultuous two years. But the real estate market shows that inventory is starting to rise, and if you’d like to capitalize on this exciting spring market to earn a fabulous price for your home, Karla Murtaugh Homes at Compass would love to help. And if you’re looking to buy, inventory is climbing and you may have more options in the coming weeks, so definitely don’t give up!

“Thankfully, the market isn’t as frenzied now as it has been in past months, and more people are feeling comfortable about selling. Inventory is still relatively low at this point, so it’s a great time to take advantage of a seller’s market,” said Karla Murtaugh.

According to Connecticut Magazine, at the start of 2022, statewide inventory sat at less than a two-month supply, more than four months less than the typical market, so inventory will be the most important thing to watch in 2022. The Multiple Listing Service’s year-end report for 2021 showed the months supply of inventory down nearly 38 percent from 2020, to 1½ months statewide. Months supply describes the amount of time it would take to sell all the homes on the market, given current market conditions. Historically, moderate price appreciation comes with about six months’ supply, according to the National Association of Realtors.

“One thing to keep in mind if you’re thinking of selling is that research shows a staged home generally sells faster and for more money. The real estate market is highly competitive and staging will give you a leg up on the competition”, said Karla.

“When a potential buyer enters your home, you want to provide a backdrop for them to experience the home—a place where they can see how rooms function and how the home ‘feels’. You want them to say WOW!”, she continued.

One of Karla’s favorite things about having joined Compass is the Compass Concierge program, which is designed to prepare your home for the market. From deep cleaning to cosmetic improvements, Compass Concierge assesses opportunities to elevate your home’s value. The program will provide a tailored plan for updating and staging your home, and the means to execute it. Compass fronts the costs associated with home-selling improvements and only collects payment for the services rendered at the time of the property’s closing.

In addition, Karla’s own staging programs are designed to work within your budget and comfort level, and can either use your existing furniture and accessories, or bring in additional items. Most importantly, staging lets you get an objective opinion as seen through a “buyer’s eyes” – it’s not a reflection on your personal style or taste, but about getting you the most bang for your buck and top dollar on your sale.

For everything you need to know about selling your home, check out the Karla Murtaugh Homes Seller’s Guide. Be sure to connect to the team at karla.murtaugh@compass.com for your complimentary consultation.

Put A Little Spring In Your Step And Spruce It Up

With increasing inventory coming on the market, buyers are continuing to offer top dollar but are looking for properties in good condition with a “fresh” look. Even in this brisk market, it’s worth it to take the time to prepare your home. We have so many examples that demonstrate when you go the extra mile, you can list at a higher market price and ultimately achieve a higher sale price and in many cases multiple offers. Here are some simple ways to brighten your home for spring whether you’re considering selling or not.

1. Declutter! This is a terrific opportunity to get rid of items you’re no longer using or enjoying. If you’re not ready to part with many of your things, consider a temporary storage unit.

2. Deep clean! Set aside a significant amount of time or hire a pro, then keep it clean until you close so it’s in great shape for showings. Don’t forget often neglected areas, like heating vents, lightswitch plates, outlet covers, trim, doorframes, grout and caulking.

3. Shine! One thing you absolutely must spring clean if you’re planning on selling your home is the windows, including screens and sills that can look really dingy after a long winter. When your windows sparkle, they’ll let in that gorgeous natural spring sunlight which makes every part of your home look more beautiful.

4. Repair! Patch holes in the walls, replace broken appliances, change burnt out light bulbs.

5. Paint! Many homeowners are surprised by how a new coat of neutral paint can refresh their home. We’re happy to recommend paint colors that will enhance the beauty of your home.

6. Freshen up! Take advantage of the warmer spring temperatures and open your windows as much as possible to help air out your home. This can help remove any odors from paint, cleaning products and/or pets.

7. Boost curb appeal! The first impression is most important and, so consider improving outdoor light fixtures, replacing the mailbox, arranging patio furniture and/or sprucing up the landscaping. Even a few pots of colorful flowers can make a huge difference in welcoming potential buyers. Plants and shrubs could be looking a little overgrown by this time of year, so spend a little time sprucing things up. Especially if you’re planning to list your home for sale, don’t underestimate the power of curb appeal. Invest in professional landscapers, or head to Ridgefield Hardware which has plenty of tools and products to choose from.

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

Ridgefield Q1 2022 Market Report

Overall, the Ridgefield real estate market for single family homes was healthy in the first quarter of 2022. While the main issue affecting the number of sales was low inventory, we have started to see an uptick in homes coming on the market, particularly in late March. There are still many buyers searching for homes, and sellers are getting creative with rent backs and other tools while they sell and make their next move. It is also important to note that while values seemed to show a decrease from last year, that is almost entirely due to the breakdown of homes that are selling. For example, in Q1 2021, homes in the over $1 million category made up 33% of all sales, while in 2022 they were only 29% of total market share. In addition, the luxury market (homes selling for greater than $1.5 million) accounted for 12% of all sales in Q1 2021, compared to only 6% this year. The drop in the share of homes selling in these price points has an overall negative effect on both median and average sales prices as reflected in these statistics. This is nothing to be concerned about as the number of sales equals or exceeds our more normal markets of 2018-2020, and the median sales values are up compared to those years as well.

Embrace The Green!

St. Patrick’s Day is next week! And while you’re getting your green on and planning for this fun holiday, don’t forget to exercise your green thumb. Plants and shrubs could be looking a little overgrown by this time of year, so spend a little time sprucing things up.

Especially if you’re planning to list your home for sale, don’t underestimate the power of curb appeal. Sasha at Greenway Landscaping is a great resource if you’d like to invest in an expert opinion on how to cut back your plants. Or head to Ridgefield Hardware which has plenty of chemical-free products to choose from.

If you prefer a more natural approach to your lawn, you may enjoy this terrific piece in 068 Magazine about the “Pollinator Pathway”: https://068magazine.com/068-feature-benefits-of-a-natural-back-yard-march-april/

In this article, Sarah Breznen, Director of Education at the Woodcock Nature Center, stresses the importance of researching specific native plants. “The pollinator pathway is a great resource, and I would always urge everyone to go on there because they have a list of plants, what habitat they’re good for, when they bloom, what host species use them,” says Breznen. “So, they can kind of pick what would be most beneficial for their backyard.”

David McCarthy, Executive Director of the Wilton Land Conservation Trust, is another supporter of chemical-free yards. “An organic lawn is something that’s more sustainable over the long term,” explains McCarthy. “When you introduce things like pesticides, herbicides, and you’re spreading those around you are basically creating a dead zone.”

Also, don’t forget to clean your gutters out after the winter! Clogged gutters can be a major cause of spring flooding in homes, and it’s imperative to keep your basement dry.

Enjoy celebrating the return of the sun with some green beer and green lawns! Wishing everyone a very happy St. Patrick’s Day!

We Love Fairfield County Giving Day!

One of our favorite things about Ridgefield is the philanthropic nature of this community. There are so many outstanding organizations working tirelessly every day to make this world a better place, and it’s our honor to support them. In honor of Fairfield County Giving Day, a 24-hour challenge and our region’s biggest philanthropic event coming up on February 24, it’s our pleasure to outline just a few of the wonderful charities based here in Ridgefield. Most of them are participating in Fairfield County Giving Day so be sure to check them out on social media for details:

  1. The Prospector Theater is a 501(c)(3) non-profit dedicated to providing competitive and integrated employment to people with disabilities through the operation of a premium, first-run movie theater. Almost 85% of Americans with disabilities are unemployed. Open every day of the year, the Prospector Theater was built as a solution to this problem. Meaningful employment is vital to a person’s mental, social, financial, and emotional health. For more information please visit http://www.prospectortheater.org/.
  2. The Ridgefield Boys & Girls Club has long been a cause very close to my heart. The Boys & Girls Club of Ridgefield is a youth activity center designed to offer programs for school-aged children after school and during vacations in five core areas: The Arts, Character & Leadership, Education, Health & Life Skills, and Sports, Fitness & Recreation.
    Club programs and services promote and enhance the development of boys & girls by instilling a sense of competence, usefulness, belonging and influence. Together with my friend Christine Carnicelli, I was lucky enough to be honored as the 2020 Champion For Youth, while Christine received the 2021 honor at their most recent gala. To learn more please visit http://www.bgcridgefield.org/.
  3. The Ridgefield Symphony Orchestra (RSO) is a regional professional orchestra founded in 1964 with the mission to enrich the cultural life of the citizens of Ridgefield and surrounding communities by presenting professional live orchestral concerts. The RSO also strives to increase the appreciation for music through community involvement and educational programs for people of all ages and abilities. We have enjoyed many of their wonderful performances at the Ridgefield Playhouse and the Ridgefield High School auditorium! For more information please visit http://www.ridgefieldsymphony.org/.
  4. RVNAhealth (formerly RVNA or Ridgefield Visiting Nurse Association) is a private, non-profit, mission-driven organization founded and focused on care. RVNAhealth provides healthcare where patients want it most – in their own homes, while striving to prevent further illness through many health and wellness programs. Their experienced team of caregivers provides home health care services in the comfort of your ‘home’ whether it is a private residence, assisted living or skilled nursing facility, or hospital, and also in their ‘home’ at the Center for Exceptional Care in Ridgefield, and across the 36 surrounding towns they serve. RVNAhealth is always planning an enjoyable fundraiser and we’ve enjoyed several of their events including the upcoming annual Spring Breakfast! To learn more please visit http://www.RVNAhealth.org/.
  5. The Iris Fund was founded several years ago by a Ridgefield resident and is dedicated to research that will determine what triggers full-term labor to end pre-term birth. The Iris Fund exclusively supports the research being conducted by a Mechanical Engineer and OBGYN (Drs. Myers and Vink) at Columbia’s Preterm Birth Prevention Center. They believe all women deserve to know how their bodies work during labor and are inspired that those same answers will save and improve outcomes for our most vulnerable babies. The Iris Fund also recently partnered with The Tiny Miracles Foundation and local florist Three Roots Education to deliver fifty beautiful floral bouquets to moms spending Valentine’s Day in local NICUs. For details please visit https://www.theirisfund.org/.
  6. Lyme Connection provides education, prevention, support and advocacy related to the increasing problem of tick-borne diseases in our community. Lyme Disease is a huge issue in our area, and Lyme Connection is a unique community-based organization, founded by families impacted by tickborne disease. They offer prevention programming as well as patient support services and educational events. Lyme patients and their families benefit from free monthly support groups, seminars, annual conference and health fairs. Medical and mental health providers take part in the professional programs Lyme Connection offers to improve patient care. To learn more please visit https://lymeconnection.org/.
  7. The Ridgefield Theater Barn was founded in 1965 when a handful of Ridgefield residents banded together to form a small theater group dedicated to providing community theater. Housed in a rustic converted dairy barn leased from the town of Ridgefield, the Workshop continues to produce an ongoing series of comedies, dramas, and musicals. The cast and crew of every show run the gamut from raw amateurs to seasoned professionals. All participants, whether on stage or off, are volunteers, including actors, dancers, musicians, seamstresses, carpenters, singers, electricians, and individuals who just offer willing pairs of hands to do anything from painting scenery to taking tickets at the door. With cabaret seating at candlelit tables, they offer superior entertainment, so BYO refreshments and join us!

Show Your House a Little Love

Valentine’s Day is coming and offers a fabulous opportunity to show your home a little love! Whether you’re thinking of selling or planning on staying put, have been in your home for years or just moved, there’s always a way to spruce things up. Here are a few of our favorite suggestions depending on your goals and budget:

  1. The Quick Reboot: Swap in some pillows, new curtains, new drawer pulls, and/or a new rug. Changing it up quickly and easily for a new feel can be so rewarding. Ridgefield has plenty of terrific places to shop local for fun new accessories, like Bella Home, Olley Court and Interiors by Ursula.
  2. The Edit: Go through your home with different garbage bags for donation centers and the dump. Tag furniture you no longer need or like, then schedule a pickup with ReStore Danbury. As we’ve posted before, we love that they provide an environmentally and socially responsible way to keep good, reusable articles out of the waste stream, while providing funding for Habitat for Humanity’s community improvement work. You’ll be amazed how much cleaner and more spacious your home feels when you simply remove some things!
  3. The Pick-Me-Up: For a more intense update, paint! New paint in a fresh palette will change the mood of any home. Paint walls or even cabinetry to create a clean updated look. Ridgefield Hardware right on Main Street has hundreds of swatches to bring home and will mix paint samples for you to try. Plus, wallpaper is back in full force with bold patterns and clean lines. And it’s not your grandmother’s wallpaper! Easily removable wallpaper is a huge trend for 2022, and it’s available at retailers from Amazon to Target. Check out these recommendations in Architectural Digest for inspiration
  4. The Complete Overhaul: Go furniture shopping, hire a decorator, or create new spaces. Out with the old, in with the new! Jill Rae, Molly Hirsch and The Tweaked Home are a few of our favorite local designers and can work with you to create a space you’ll truly love to live in.
  5. Add Some Sparkle: Create an accent wall or whitewash a fireplace for a new modern look. Ridgefield Supply has plenty of materials to choose from. Check out this fun roundup from BuzzFeed for more suggestions.
  6. The Simple Life: When in doubt, buy flowers! The classic Valentine’s gift for the person you love is also a lovely way to freshen up your home. Our area has plenty of florists to choose from including Rodier Flowers, right up Main Street from our new Compass office location.

Wishing all of our clients and friends a very happy Valentine’s Day!

Winter Break Staycation

Winter Break is right around the corner, and it’s more than a whole week off for some schools including Ridgefield Public Schools. If you’re opting for a staycation this year, there’s plenty to do in our area.

The Prospector Theater always has family-friendly movies playing, 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.

Head to the Ridgefield Library to free family events like All-Age Family Storytime, Scrabble Club, Animal Explorers Storytime, Children’s Electricity Workshop, STEAM Corner Crafts and their February Take & Make: Basquiat Inspired Expressionism. The vacation week ends on a fun note on Friday, February 25 with in-person PJ Storytime & Stuffed Animal Sleepover 6:00-6:45pm and a Magic Show with Ed Pop on Saturday, February 26 at 1:00-1:45pm.

Deborah Anne’s Sweet Shoppe on Main Street will be open and is always an easy, fun 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 850 Degrees Wood Fired Pizza, Wooster Hollow Café, Dmitri’s Diner, Prime Burger, and BareBurger.

Several ski areas are close enough for a day trip, including Butternut in Massachusetts, Mount Southington in Plantsville, CT and Thunder Ridge in New York. For winter activities right here in town, check out daily open ice times at Winter Garden Ice Arena.

The Ridgefield Parks and Rec is hosting a Winter Break Multi Sports Camp February 22-25 for ages 5-11. Campers will have the opportunity to experience a variety of sports throughout the program including soccer, basketball, flag football, cricket, handball, volleyball, and more.

And, of course, there are our favorite parks, museums and playgrounds that you can check out year-round.

  • Ambler Farm in Wilton is holding a free Maple Syrup Open House on Saturday, February 26 1-2pm! Kids will have the chance to tap a tree, take the maple syrup taste test and learn about Native American, Colonial and modern methods of making syrup. Plus enjoy Ambler Farm’s very own maple syrup over vanilla ice cream!
  • Woodcock Nature Center in Wilton offers terrific hiking trails and camps. Plus, they’re holding an Evening Owl Walk on Saturday, February 26 5:30-7pm with bird enthusiast Tommy McCarthy.
  • Ballard Park’s playground is fabulous no matter the weather and the gazebo looks beautiful even covered in snow.
  • Stepping Stones Children’s Museum and The Maritime Aquarium are both located in Norwalk with plenty of programs for kids of all ages.
    Sledding at Veterans Park field is always a fun option if there’s snow on the ground!

Check out the Ridgefield Hamlet Hub calendar for many more events happening on our area every week. Wishing everyone a fun and restful vacation no matter how you choose to spend it!

You just moved to Ridgefield with toddlers! Now what?

Ridgefield is an absolutely fabulous place to raise a family! Excellent schools, plenty of activities, the first Cultural District in the state of Connecticut, close proximity to NYC and it’s consistently one of the safest towns in America.

So you just moved here and have toddlers. Welcome! Now what? Our first recommendation is to get connected to the Ridgefield Newcomers, Ridgefield Moms Club, Mothers of Preschoolers, or another group where you can meet other families who are new to town.

  • Our area is home to plenty of parks, museums and playgrounds that you can check out with your little ones. Here are a few of our favorites:
  • Ballard Park in downtown Ridgefield has a fabulous new playground, beautiful gazebo and lovely gardens plus fabulous free CHIRP concerts in the summer.
  • Ambler Farm in Wilton celebrates our community’s agrarian roots through active learning programs, sustainable agriculture, responsible land stewardship, and historic preservation. They hold plenty of programs year round and are home to many animals you can visit every day.
  • Woodcock Nature Center in Wilton offers terrific hiking trails and camps.
  • Stepping Stones Children’s Museum and The Maritime Aquarium are both located in Norwalk with plenty of programs for kids of all ages.
    Silverman’s Farm in Easton is home to a petting zoo and plenty of pick-your-own fruit orchards.

Head to the Ridgefield Library and learn more about their many free programs for children, including storytime and music classes that take place in Ballard Park in the summer. They also have plenty of programs and book clubs for parents, and their daily newsletter contains a lot of valuable community resources.

Don’t miss The Prospector Theater, a 501(c)(3) non-profit dedicated to providing competitive and integrated employment to people with disabilities through the operation of a premium, first-run movie theater located right here in Ridgefield. In addition to their incredible mission, they show family-friendly movies and serve gourmet treats. Plus, it’s a fabulous date night destination!

We highly recommend you subscribe to newsletters like Hamlet Hub for more information on what’s happening here in town. We are proud to welcome you to our community and hope you love it as much as we do!

Getting Ready To Sell? Consider Donating to ReStore

It’s a fabulous time to think about listing your home for sale, and many of our clients have started cleaning out their homes to prepare. Most people need to get rid of some furniture before listing to make space for staging. Particularly if you’ll be downsizing, you may not need all of your furniture once you move to a new home, and we wanted to be sure you knew about the ReStore benefitting Habitat for Humanity.

With several locations in Connecticut, ReStore is a home and hardware retail thrift store open to the public selling new and gently used furniture, appliances, and building materials. The ReStore provides an environmentally and socially responsible way to keep good, reusable articles out of the waste stream while providing funding for Habitat’s community improvement work. Sales from the ReStore benefit Habitat for Humanity’s housing programs and their mission to provide decent, affordable homes!

Here is a list of items they accept and sell at the store:
• Appliances (for example: refrigerators, stoves/ovens, washers/dryers, small household appliances)
• Kitchen and Bathroom Cabinets
• Furniture (for example: sofas, dining sets, dressers, mirrors, bedroom sets)
• Lighting & Plumbing Fixtures
• Building Materials (for example: windows and doors, lumber and trim, tiles, flooring)
• Home Décor Items

ReStore picks up donations throughout Fairfield County. To schedule a pickup, email donate@restorecfc.org with your name, address, phone number and items to be donated. Or you can call (203) 383-4358 and leave a message. Keep in mind there is generally a two-week lead time from when you make the request. You can also follow the Danbury Store on Instagram at danburyrestore.