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2023. Market Report.jpg

How's The Market?

While real estate #NorthofNYC has seen a continued decline in home sales due to persistent low inventory levels, median prices have increased across many markets, offering sellers favorable returns. 

We are seeing positive signs that 2024 will bring new opportunities for both sellers and buyers, with an indication from the Federal Reserve that mortgage rates will begin to trend downward mid-year.

While demand is likely to increase further as more buyers enter the market, expectation is this movement may also begin to alleviate inventory shortages as some of those buyers will also be sellers.

Contact us for a complimentary consultation to discuss options tailored to your personal circumstances.

Key Market Highlights

Decoding 2023 Year End Market Data for Ridgefield, Redding & Wilton


💵 Average Sale Price: $1,183,049 (+20.1% vs. 2022)

📊 DOM: 41 (46 in 2022)

🏡 Homes Sold: 277 (365 in 2022)

💡Opportunity: Inventory remains constrained, though early signs from the Fed point to a possible decline in interest rates mid-year, prompting more buyers & sellers to enter the marketplace. Sellers hoping to capitalize on elevated prices should list early and be flexible.

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