July offers some good news, not in the number of sales (17) but in the average price range of homes closed in July. While the average/median price for the year is $213,990/198,000, the 17 homes that closed in July sold for $233,872/$228,000. Although that doesn't come close to Ledyard prices in 2005 - 2008, it appears prices may be finally heading in the right direction. The past 6 month average also shows some improvement at $221,808/209,050.
As many of my readers know I've been selling real estate for quite awhile. 38 years to be exact. There are a few constants. One is that the market slows down during August and picks up after Labor Day. That doesn't mean the market stops but so far there have only been 3 pending sales in Ledyard since August 1st. In general, there are fewer buyers in August when vacations and back to school planning seem to take precedence over home shopping.
As of August 9th, the average list price (asking price) of the 120 homes currently on the market is $258,372. There are currently 29 homes pending with an average list price of $227,282. There are an additional 16 homes listed as pending -"show for backup" with an average listed price of $244,744. There were 28 closed sales reported during the month of July.
History of Ledyard Home Sales
115 home sales have been reported closed so far this year,
with a median sold price of $198,000.
Ledyard Real Estate Statistics - Last 180 Days
On August 9th, the Connecticut Multiple Listing Service shows a total of 94 contracts have closed in the last 180 Days with an average sold price of $221,808 (Median of $209,050). TREND IS UP
A total of 53 listings have expired in that same time period. This continues to be a large increase over previous months but sellers who haven't sold often take their homes off the market this time of year and hope for better results in the spring. Listings may expire for many reasons such as being priced too high,having been inadequately marketed, the property was in poor condition, or perhaps the owner had second thoughts about selling at this particular time. At this time of year, sellers often take their homes of the market due to the upcoming holidays.
Listings and sales reported by the members of the CT Multiple Listing Service, Inc and may not represent all sales. Information deemed reliable but not guaranteed.
About the author: Linda Davis has been a licensed real estate agent in Ledyard CT for over 35 years. She has a long history of community service and currently serves as Chairman/Deputy Mayor of the Ledyard Town Council. Linda is the administer of the popular Ledyard Community Forum on Facebook and also teaches and speaks on technology, mostly for beginners. Linda can help with homes for sale in Ledyard as well as homes for sale in Eastern CT including, Groton, Mystic, Stonington, Norwich, Montville, New London, East Lyme, or Waterford.