Ridgefield, CT May 2025 Real Estate Market Report: Insights & Forecast
Assembled by: Judy Michaelis, 203-247-5000
Market Trends Report – April 2025
Overview
The overview below shows real estate activity from January 2025 to April 2025. You will see data comparisons between April and the previous month, the last three months and April 2024.
| Overview | YTD Avg. | April | March | Jan. – Mar. | Apr. 2024 |
|---|---|---|---|---|---|
| New Listings | 105 | 39 | 31 | 22 | 33 |
| Average Sales Price per Square Foot | 379 | 383 | 395 | 378 | 397 |
| Average Days on Market | 59 | 45 | 55 | 63 | 40 |
| Number of Properties for Sale | 131 | 38 | 35 | 31 | 51 |
| Average List Price | $1,847,753 | $1,863,984 | $1,871,497 | $1,842,342 | $1,422,367 |
| Median List Price | $1,184,250 | $1,262,000 | $1,150,000 | $1,158,333 | $1,195,000 |
| Average Sales Price | $1,367,378 | $1,034,091 | $1,515,816 | $1,478,473 | $1,392,459 |
| Median Sales Price | $1,072,500 | $839,000 | $1,250,000 | $1,150,333 | $975,000 |
| Sales Price / List Price Ratio | 103.07% | 106.58% | 107.02% | 101.9% | 100.37% |
| Number of Properties Sold | 39 | 11 | 12 | 9 | 14 |
| Month’s Supply of Inventory | 3.42 | 3.45 | 2.92 | 3.41 | 3.64 |
| Absorption Rate | 0.3 | 0.29 | 0.34 | 0.3 | 0.27 |
Average & Median Sales Price
The median sales price in April 2025 was $839,000, down -32.88% from $1,250,000 from the previous month and -13.95% lower than $975,000 from April 2024. The April 2025 median sales price was at its lowest level compared to April 2024 and 2023.
The average sales price in April 2025 was $1,034,091, down -31.78% from $1,515,816 from the previous month and -25.74% lower than $1,392,459 from April 2024. The April 2025 average sale price was at its lowest level compared to April 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 April 2025 sales price/list price ratio was 106.58%, equal to the previous month and up from 100.37% from April 2024.
Number of Properties Sold & Absorption Rate
The number of properties sold in April 2025 was 11, down -8.33% from 12 from the previous month and -21.43% lower than 14 from April 2024. The April 2025 sales were at its lowest level compared to April 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 April 2025 was 45 days, down -18.18% from 55 days from the previous month and 12.50% higher than 40 days from April 2024. The April 2025 DOM was at a mid level compared with April 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 April 2025 was $383, down -3.04% from $395 from the previous month and -3.53% lower than $397 from April 2024.
Inventory & MSI
The number of properties for sale in April 2025 was 38, up 8.57% from 35 from the previous month and -25.49% lower than 51 from April 2024. The April 2025 inventory was at its lowest level compared with April 2024 and 2023.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The April 2025 MSI of 3.45 months was at its lowest level compared with April 2024 and 2023.
New Listings
The number of new listings in April 2025 was 39, up 25.81% from 31 from the previous month and 18.18% higher than 33 from April 2024. The April 2025 listings were at its highest level compared to April 2024 and 2023.
Judy Michaelis
Prefer the quick version? Here's a snapshot of the April 2025 Ridgefield Market Update:
🏠 Prices dropped sharply – Median sales price fell to $839K, down 33% from March and 14% below last year. Significant price correction underway.
⏰ Homes selling at moderate pace – Average days on market at 45 days, down 18% from March but up 13% from last year's 40 days.
📈 Inventory remains tight – Only 38 homes available, up 9% from March but down 25% from last year. Still a constrained market.
📊 Sales activity slowed – 11 homes sold, down 8% from March and 21% below last year's 14 sales despite more listings.
What Buyers and Sellers Need to Know
✨ Sellers: Despite price corrections, homes still selling above asking at 107% in 45 days on average. The 3.5-month supply still favors sellers.
🔍 Buyers: Major price correction creates opportunities, but inventory remains limited. Expect to pay above asking but with more negotiating power than recent years.
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