Ridgefield, CT March 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 February 2025. You will see data comparisons between February and the previous month, the last three months and February 2024.
| Overview | YTD Avg. | February | January | Nov. – Jan. | Feb. 2024 |
|---|---|---|---|---|---|
| New Listings | 34 | 14 | 20 | 11 | 20 |
| Average Sales Price per Square Foot | 370 | 370 | 369 | 370 | 339 |
| Average Days on Market | 68 | 80 | 55 | 50 | 116 |
| Number of Properties for Sale | 52 | 22 | 30 | 28 | 34 |
| Average List Price | $1,918,726 | $1,936,532 | $1,900,920 | $1,899,415 | $1,580,453 |
| Median List Price | $1,168,500 | $1,187,000 | $1,150,000 | $1,046,500 | $1,362,000 |
| Average Sales Price | $1,459,802 | $1,133,214 | $1,786,389 | $1,357,318 | $889,571 |
| Median Sales Price | $1,100,500 | $851,000 | $1,350,000 | $1,144,167 | $710,000 |
| Sales Price / List Price Ratio | 99.34% | 97.28% | 101.39% | 101.62% | 94.71% |
| Number of Properties Sold | 16 | 7 | 9 | 19 | 7 |
| Month’s Supply of Inventory | 3.24 | 3.14 | 3.33 | 1.88 | 4.86 |
| Absorption Rate | 0.31 | 0.32 | 0.3 | 0.73 | 0.21 |
Average & Median Sales Price
The median sales price in February 2025 was $851,000, down -36.96% from $1,350,000 from the previous month and 19.86% higher than $710,000 from February 2024. The February 2025 median sales price was at a mid level compared to February 2024 and 2023.
The average sales price in February 2025 was $1,133,214, down -36.56% from $1,786,389 from the previous month and 27.39% higher than $889,571 from February 2024. The February 2025 average sale price was at its highest level compared to February 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 February 2025 sales price/list price ratio was 97.28%, down from 101.39% from the previous month and up from 94.71% from February 2024.
Number of Properties Sold & Absorption Rate
The number of properties sold in February 2025 was 7, down -22.22% from 9 from the previous month and equal to February 2024. The February 2025 sales were at its lowest level compared to February 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 February 2025 was 80 days, up 45.45% from 55 days from the previous month and -31.03% lower than 116 days from February 2024. The February 2025 DOM was at a mid level compared with February 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 February 2025 was $370, equal to the previous month and 9.14% higher than $339 from February 2024.
Inventory & MSI
The number of properties for sale in February 2025 was 22, down -26.67% from 30 from the previous month and -35.29% lower than 34 from February 2024. The February 2025 inventory was at its lowest level compared with February 2024 and 2023.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The February 2025 MSI of 3.14 months was at its lowest level compared with February 2024 and 2023.
New Listings
The number of new listings in February 2025 was 14, down -30.0% from 20 from the previous month and -30.0% lower than 20 from February 2024. The February 2025 listings were at its lowest level compared to February 2024 and 2023.
Judy Michaelis
Prefer the quick version? Here's a snapshot of the February 2025 Ridgefield Market Update:
🏠 Prices dropped dramatically – Median sales price plunged to $851K, down 37% from January's $1.35M, though still 20% above last February. Average sales price fell 37% to $1.13M.
⏰ Homes taking longer to sell – Average days on market jumped to 80 days, up 45% from January's 55 days, though still 31% faster than last February's 116 days.
📈 Inventory continues declining – Only 22 homes available, down 27% from January and 35% below last year. At 3.1 months supply, still favors sellers.
📊 Sales activity weakened – 7 homes sold, down 22% from January's 9, matching last February's low volume. New listings also dropped 30% to just 14.
What Buyers and Sellers Need to Know
✨ Sellers: February correction brought homes below asking at 97% of list price. The 3.1-month supply still creates competitive conditions, but pricing power has shifted.
🔍 Buyers: Seasonal price correction creates opportunities with less competition. Inventory remains tight, but homes no longer selling above asking price.
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