Hi. Just to clarify. My answer referred to Fairfield Homes. The data I use is from the Greater Fairfield County MLS. Since I was referring to an average, I should point out that individual homes may vary. And since location is such an important part of the value, Ridgefield may have different trends. Again it is best to check with a Realtor in your local area. All the best, Mike

PS anyone can see trends by town for the last few years in units sold and prices at Raveis.com

Well not sure where ur getting ur info, the homes in Ridgefield r definetly not at the same prices, i bought in 2004 and it is now listed for less and I've made improvements!! It is close to town, to schools, 3300 sq ft, Its a deal!

Zillow is definetly not accurate at all. Anyone can get on the site and change the numbers. As a Realtor, I can see the comparables and check with town and CLEARLY the prices are not the same. Also there are quite a few new agents who are just learning with the price adjustments. We have lost an average of 20% from the last 2-5 years and still slowly declining. The GOOD news is that we are now stabilizing. Each area is subject to change due to it's towns economy. Some areas haven't been hit at all! Work with a FULL-time Realtor who has been around for a minimum of 5yrs and if you need a mortgage be assured that they will hire an appraiser to make sure the prices are accurate. Beleive me, banks have been hit hard enough that they too don't want to take any more risks than they have to!

The trend I am seeing in the Fairfield area is closer to 2004 level pricing. Prices have dropped but not as much as you would expect. And location still plays a big part in the decision with what buyers are willing to pay. There is no question that for a buyer you can get your best value in this market - better than at any time in the last decade.

Mike Tetreau
William Raveis Real Estate

How do you know if they haven't made improvements, or remodeled the entire house? I think each house is totally different, and I agree that many houses are over-priced, but I think it is unfair to generalize all houses!