Ridgefield, CT April 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 from January 2025 to March 2025. You will see data comparisons between March and the previous month, the last three months and March 2024.
| Overview | YTD Avg. | March | February | Dec. – Feb. | Mar. 2024 |
|---|---|---|---|---|---|
| New Listings | 60 | 25 | 15 | 12 | 35 |
| Average Sales Price per Square Foot | 378 | 395 | 370 | 366 | 417 |
| Average Days on Market | 63 | 55 | 80 | 61 | 43 |
| Number of Properties for Sale | 80 | 22 | 27 | 26 | 48 |
| Average List Price | $1,939,472 | $2,147,641 | $1,802,948 | $1,910,301 | $1,468,952 |
| Median List Price | $1,270,667 | $1,487,000 | $1,175,000 | $1,105,000 | $1,304,500 |
| Average Sales Price | $1,478,473 | $1,515,816 | $1,133,214 | $1,297,631 | $899,077 |
| Median Sales Price | $1,150,333 | $1,250,000 | $851,000 | $1,027,833 | $950,000 |
| Sales Price / List Price Ratio | 101.9% | 107.02% | 97.28% | 100.1% | 105.4% |
| Number of Properties Sold | 28 | 12 | 7 | 13 | 13 |
| Month’s Supply of Inventory | 3.04 | 1.83 | 3.86 | 2.71 | 3.69 |
| Absorption Rate | 0.37 | 0.55 | 0.26 | 0.58 | 0.27 |
Average & Median Sales Price
The median sales price in March 2025 was $1,250,000, up 46.89% from $851,000 from the previous month and 31.58% higher than $950,000 from March 2024. The March 2025 median sales price was at its highest level compared to March 2024 and 2023.
The average sales price in March 2025 was $1,515,816, up 33.76% from $1,133,214 from the previous month and 68.60% higher than $899,077 from March 2024. The March 2025 average sale price was at its highest level compared to March 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 March 2025 sales price/list price ratio was 107.02%, up from 97.28% from the previous month and up from 105.4% from March 2024.
Number of Properties Sold & Absorption Rate
The number of properties sold in March 2025 was 12, up 71.43% from 7 from the previous month and -7.69% lower than 13 from March 2024. The March 2025 sales were at its lowest level compared to March 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 March 2025 was 55 days, down -31.25% from 80 days from the previous month and 27.91% higher than 43 days from March 2024. The March 2025 DOM was at a mid level compared with March 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 March 2025 was $395, up 6.76% from $370 from the previous month and -5.28% lower than $417 from March 2024.
Inventory & MSI
The number of properties for sale in March 2025 was 22, down -18.52% from 27 from the previous month and -54.17% lower than 48 from March 2024. The March 2025 inventory was at its lowest level compared with March 2024 and 2023.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The March 2025 MSI of 1.83 months was at its lowest level compared with March 2024 and 2023.
New Listings
The number of new listings in March 2025 was 25, up 66.67% from 15 from the previous month and -28.57% lower than 35 from March 2024. The March 2025 listings were at its lowest level compared to March 2024 and 2023.
Judy Michaelis
Prefer the quick version? Here's a snapshot of the March 2025 Ridgefield Market Update:
🏠 Prices rebounded strongly – Median sales price surged to $1.25M, up 47% from February's $851K and 32% above last March. Average sales price jumped 34% to $1.52M month-over-month.
⏰ Homes selling much faster – Average days on market dropped to 55 days, down 31% from February's 80 days, though still up 28% from last March's 43 days.
📈 Inventory remains critically tight – Only 22 homes available, down 19% from February and 54% below last year. At just 1.8 months supply, this is the lowest level on record.
📊 Sales activity recovered – 12 homes sold, up 71% from February's 7, though slightly below last March's 13. New listings also rebounded 67% to 25 properties.
What Buyers and Sellers Need to Know
✨ Sellers: Market strongly favors sellers with homes selling at 107% of asking price in just 55 days. The 1.8-month supply creates exceptional pricing power and multiple offers.
🔍 Buyers: Spring rebound creates competitive conditions. Expect to pay 7% above asking and move decisively. Inventory shortage means limited choices despite increased listings.
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