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Single-Family Home Sales Fall 14 Percent In Ridgefield

Sales of single-family homes fell in the second quarter compared to the same time frame last year, according to brokerage reports.
Sales of single-family homes fell in the second quarter compared to the same time frame last year, according to brokerage reports. Photo Credit: Daily Voice File photo

FAIRFIELD COUNTY, Conn. -- Sales of single-family homes fell in Danbury and Ridgefield in the second quarter, according to figures released by local brokerages.

Sales fell 3 percent in Danbury and 14 percent in Ridgefield. In Fairfield County, sales rose 6 percent for the second quarter compared to the same time frame last year. Figures were from the second quarter report from William Pitt and Julia B. Fee.

The median selling price rose 1 percent in Danbury to $268,000. In Ridgefield, the median selling price fell 2 percent. For Fairfield County, the median selling price fell 1 percent.

Ridgefield’s median sale price was particularly hurt by the condominium market. The median sale price fell 26.4 percent for that segment, according to statistics from Berkshire Hathaway HomeServices New England Properties.

“The second quarter really depended on where you are,’’ said Gregg Wagner, regional vice president in Fairfield County for Coldwell Banker. “The lower end of the market seems to be going very well, but we’re not seeing the stair steps up. In the old days, people would sell something for $300,000 and move up to $500,000. We are not seeing that now. We are seeing a lot of first-time home buyers. Some very high-end homes are selling.”

While the real estate market seems healthy overall in the region, some trends are a cause for concern, according to the report. The report said new listings surged in the second quarter, with inventory growing 12 percent from the second quarter in 2014 and 58 percent compared to the first quarter.

Also, sales of higher-end homes have been slow.

“In the upper prices it’s really dead,’’ said Rick Higgins, chairman and founder of the Higgins Group in a press release. “I’m an optimist. There is no reason for it to be slow. Prices have dropped, the economy is steady and mortgage rates are low. People are just more cautious now.”

Click here for the second quarter report from William Pitt.

Click here for the second quarter report from Berkshire Hathaway HomeServices New England Properties.

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