What Is My Home Worth? Ridgefield, CT 06877 June 2015
Ridgefield, Connecticut is one of the 23 towns located in Fairfield County. According to the 2010 census, the population size is approximately 24,638 people in this 306 year old town. It is located only 20 minutes from the Katonah train station making any commute to New York City very easy for both work as well as leisure.
This graph above shows the number of homes sold in Ridgefield each month for the past 3 years with the yellow bars representing the current year. Ridgefield home sales are down this past May in comparison with the previous two years. Due to the severity of this past winter, home sales have dropped these past 2 months based on the sales occurring during February and March where Ridgefield accumulated a sizable amount of snow.
As this graph indicates the stronger a market gets, the more competitive bidding exists, the closer your sales price will move to your list price. Therefore, as you can tell, the Ridgefield Real Estate Market is declining from the previous month. The prices of homes being sold in Ridgefield are not being sold closer to asking price. They are down from April as well as down comparatively from this time last year.
The above graph shows the average number of days a house will spend on the market last year by town in Fairfield County. The number of days a house in Ridgefield spends on the market is fairly average for the towns surrounding it in Fairfield County. It spends more time on the market than in Danbury and Norwalk, and is sold quicker than in Weston, Westport, and Newtown. The number of days on market is almost identical to Wilton, a neighboring town that is very similar to Ridgefield.
The graph above displays the average price a house was sold for each month in a specific town. Ridgefield homes are averaging at about $700,000 for the past two months and are now on an upward trend for the first time this year.
The most recent stock market collapse was during 2008. A steady decrease in average sale prices for homes in Ridgefield can be clearly seen above when it was difficult to buy houses at such previously high rates.
Despite the most recent stock market crash occurring 7 years ago, the economy has not completely recovered. The graph above is showing a smaller decrease and is now staying pretty consistent around $600,000 - $700,000. It has not returned to its former peak average of $1,000,000.