RIDGEFIELD MARKET REPORT April 2015

BALLARD PARK

RIDGEFIELD, CONNECTICUT - LAKE MAMANASCO

Mamanasco is a Ridgefield name that applies to a lake, a hill, a ridge, a mountain, and a road.Mamanasco Lake is Ridgefield’s largest body of water.The meaning of “mamanasco” is grassy pond.

In 1716 settlers thought the Mamanasco Lake was a great place to store water for a grist mill.The Mamanasco Mill (paper mill) was still operating almost into the 20^th century.The remains of the paper mill can still be seen at the end of Pond Road. Some thought Mamanasco was created by beavers damming up the outlet.

The lake is the center of many recreational activities including swimming, fishing, sailing and ice fishing. There is a beach on the western shoreline and is the Mamanasco Beach Club, a private beach operated by the Eight Lakes Community Association.

There is no gasoline motors allowed on Lake, but there are plenty of row boats and canoes and kayaks.The town of Ridgefield and the DEP has teamed up and created a program to restore the lake, because the habits of all residents using lawn fertilization, cleaning agents and septic maintenance are affecting the condition of the lake.This program is called the Mamanasco Lake Improvement Fund (MLIF).

Average Sales Price

As you can see from the graph above, the average sales price over the last three years 2012-2014 has been very stable.Some areas of the Country are in a Seller’s market where sales prices are skyrocketing because of competitive bids.Some areas of the country, on the other hand, are depressed and sales prices are falling. Ridgefield sales prices are stable.

Cumulative Days on Market

This is the total number of days the listing has been on the market. As you can see from the graph above homes are beginning to sell slightly faster.

Months of Inventory

Months of Inventory are defined by the number of pending sales versus the number of active listings on the market. As you can see from the graph above the months of inventory has been declining which shows the market is picking up.

Number of Sales

Number of Sales is fairly self- explanatory at this time we are still on a slow but steady increase.The fluctuations in the graph above indicate the difference between spring and fall markets.

As this graph indicates the stronger a market gets, the more competitive bidding exists, the closer your sales price will move to your list price.

Therefore, as you can tell, the Ridgefield Real Estate Market is stable and improving. Currently, Ridgefield has 199 active sales listings and 31 pending.

The above Real Estate information was provided by Dagny Eason, a regional recognized leader in her field. Dagny can be reached via email at [email protected] or by phone 203-858-4853. Dagny has helped people move in and out of many Fairfield County towns for the past ten years.

Thinking of Selling your Home? I always say, "List with me, and start packing!" I have a passion for REAL ESTATE and love to share my marketing expertise!

I service REAL ESTATE sales in the following Fairfield County, CT towns:.... Westport, Wilton, Weston, Ridgefield, New Canaan, Darien, Norwalk, Fairfield, Redding, Easton, Trumbull, Greenwich, Stamford, etc.