How's The Market?
Scarcity of available properties and record low inventory levels persist across Fairfield County, CT. Average list-to-sale price ratio surpassed 100% in Ridgefield, Wilton, Redding and many neighboring communities, reflecting intense buyer competition in most price categories. Homes spent the lowest amount of time on market in years, attributed to ready, willing, and able buyers and a large percentage of cash purchases.
While demand might suggest otherwise, buyers remain discerning, wary of overly inflated prices after an intense two years. We anticipate buyer demand to continue, and it remains an opportune time to sell North of NYC.
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Key Market Highlights
Decoding 2022 Year End Market Data for Ridgefield, Darien & New Canaan
💵 Average Sale Price: $986K (+5% vs. 2021, +38% vs. 2019)
📊 DOM: 46 (60 in 2021, 99 in 2019)
🏡 Homes Sold: 365 (482 in 2021, 327 in 2019)
💡Opportunity: Inventory is stable relative to the last 10 years, even up slightly post-COVID, with the added draw to those who no longer need to commute to NYC daily. Pricing relative to Southern Fairfield County is competitive; strong opportunity for buyers.