Ridgefield, CT Real Estate Market Report: Home Sales April 2008

April 7th, 2008 categories: Buying Your House, For Agents, Market Data & Statistics, Ridgefield, Selling Your House, Talking Real Estate

Ridgefield Real Estate Market Commentary

March is always a transitional month in Ridgefield. As the spring weather arrives in Connecticut, so do the home buyers. Contrary to the doom and gloom news reports, Brad and I have been working with buyers that are actually making reasonable offers and buying homes. In the past few weeks, several Ridgefield homes went under agreement within days of listing. No doubt that it’s a challenging market but this tells us that the good houses listed at realistic prices have no problems getting sold… quickly. Although buyers maintain a power position in the market, they are making buying decisions and will continue to do so.

Even with the current lull in transaction volume, the Ridgefield real estate market is certainly not on life support. Demand will always remain relatively strong here for several reasons: great schools, affordable homes, proximity to lower Fairfield County, Westchester County and NYC and an overall quality of life that people really, really enjoy. If you already live her, you know what I’m talking about.

Market Stats for Ridgefield CT Real Estate

The numbers say that Ridgefield real estate is still tracking behind last year. Inventories are a little higher (6%) and the number of single family home closings are down by 27% compared to March 2007. Over the next 8 weeks, we’ll see inventory climb (normal for this time of year). We never sell through all of these homes. This spring it will be the owners with realistic expectations that are going to be the most successful. For buyers, this market brings together three major factors in their favor: historically low interest rates, a great selection of homes to choose from and prices that are the most reasonable in recent memory.

We are always available to help you understand what’s going on in today’s real estate market and what it means to you. We know the market numbers better than anyone and always make certain that our clients are armed with the most important market data and the best real estate advice to get the best deal possible. Contact us anytime to talk about your situation.