Ridgefield, CT February 2025 Real Estate Market Report: Insights & Forecast
Assembled by: Judy Michaelis, 203-247-5000
Market Trends Report
Overview
The overview below shows real estate activity for January 2025. You will see data comparisons between January and the previous month, the last three months and January 2024.
| Overview | YTD Avg. | January | December | Oct. – Dec. | Jan. 2024 |
|---|---|---|---|---|---|
| New Listings | 20 | 20 | 2 | 13 | 13 |
| Average Sales Price per Square Foot | 369 | 369 | 359 | 381 | 343 |
| Average Days on Market | 55 | 55 | 47 | 44 | 110 |
| Number of Properties for Sale | 22 | 22 | 19 | 32 | 31 |
| Average List Price | $2,222,123 | $2,222,123 | $2,124,400 | $1,826,000 | $1,682,710 |
| Median List Price | $1,287,500 | $1,287,500 | $1,050,000 | $1,050,667 | $1,275,000 |
| Average Sales Price | $1,786,389 | $1,786,389 | $973,291 | $1,150,580 | $1,215,408 |
| Median Sales Price | $1,350,000 | $1,350,000 | $882,500 | $1,081,667 | $1,282,500 |
| Sales Price / List Price Ratio | 101.39% | 101.39% | 101.63% | 101.98% | 106.1% |
| Number of Properties Sold | 9 | 9 | 24 | 22 | 12 |
| Month’s Supply of Inventory | 2.44 | 2.44 | 0.79 | 1.46 | 2.58 |
| Absorption Rate | 0.41 | 0.41 | 1.26 | 0.81 | 0.39 |
Average & Median Sales Price
The median sales price in January 2025 was $1,350,000, up 52.97% from $882,500 from the previous month and 5.26% higher than $1,282,500 from January 2024. The January 2025 median sales price was at its highest level compared to January 2024 and 2023.
The average sales price in January 2025 was $1,786,389, up 83.54% from $973,291 from the previous month and 46.98% higher than $1,215,408 from January 2024. The January 2025 average sale price was at its highest level compared to January 2024 and 2023.
Sales Price / List Price Ratio
The sales price/list price ratio is the average sale price divided by the average list price for sold properties expressed as a percentage. If it is above 100%, homes are selling for more than the list price. If it is less than 100%, homes are selling for less than the list price.
The January 2025 sales price/list price ratio was 101.39%, equal to the previous month and down from 106.1% from January 2024.
Number of Properties Sold & Absorption Rate
The number of properties sold in January 2025 was 9, down -62.50% from 24 from the previous month and -25.00% lower than 12 from January 2024. The January 2025 sales were at its lowest level compared to January 2024 and 2023.
Absorption rate is the avg number of sales per month divided by the total number of available properties.
Average Days on Market
The average days on market (DOM) is the number of days a property is on the market before it sells. An upward trend in DOM tends to indicate a move towards a buyer’s market, a downward trend tends to indicate a move towards seller’s market.
The DOM for January 2025 was 55 days, up 17.02% from 47 days from the previous month and -50.0% lower than 110 days from January 2024. The January 2025 DOM was at its lowest level compared with January 2024 and 2023.
Average Sales Price per Square Foot
The average sales price per square foot is a more normalized indicator for the direction of property value. The sales price per square foot in January 2025 was $369, up 2.79% from $359 from the previous month and 7.58% higher than $343 from January 2024.
Inventory & MSI
The number of properties for sale in January 2025 was 22, up 15.79% from 19 from the previous month and -29.03% lower than 31 from January 2024. The January 2025 inventory was at its lowest level compared with January 2024 and 2023.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The January 2025 MSI of 2.44 months was at its lowest level compared with January 2024 and 2023.
New Listings
The number of new listings in January 2025 was 20, up 900% from 2 from the previous month and 53.85% higher than 13 from January 2024. The January 2025 listings were at its highest level compared to January 2024 and 2023.
Judy Michaelis
Prefer the quick version? Here's a snapshot of the January 2025 Ridgefield Market Update:
🏠 Prices surged dramatically – Median sales price jumped to $1.35M, up 53% from December's $882K and 5% above last January. Average sales price soared 84% to $1.79M month-over-month.
⏰ Homes selling efficiently – Average days on market at 55 days, up 17% from December but 50% faster than last January's 110 days. Strong seller market conditions persist.
📈 Inventory remains critically low – Only 22 homes available, up 16% from December but 29% below last year. At 2.4 months supply, extremely tight market continues.
📊 Sales volume plummeted – 9 homes sold, down 63% from December's holiday surge of 24, and 25% below last January. New listings rebounded 900% to 20 from December's 2.
What Buyers and Sellers Need to Know
✨ Sellers: Homes selling at 101% of asking price in just 55 days. The 2.4-month supply creates exceptional pricing power with dramatic price increases month-over-month.
🔍 Buyers: Post-holiday rebound brings higher prices and more competition. Inventory shortage means limited choices despite new listing surge from December lows.
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