As most of my readers know, I was elected to another term on the Ledyard Town Council. While talking to voters during the campaign, I expressed my concern of the continuing decline in home values in Ledyard. With 10 months now on the books, the median closed price in Ledyard is barely breaking $200,000 and has a long way to go to reach last years median sold price of $219,750. As I wrote a month ago, one indicator that has me concerned is that the median listed price of all pending sales is under $200,000. Once these homes close, we should see a dip in the median sold price for the year. While the number of home sales should increase over last year, unless something significant changes over the next two months, I'm projecting at least an 8% decrease in home values in 2015.
Photo of listing at 18 August Meadows.
As of October 4th, the average list price (asking price) of the 117 homes currently on the market is $250,000. There are currently 27 homes pending with an average list price of $188,200. There are an additional 16 homes listed as pending -"show for backup" with an average listed price of $224,400.
History of Ledyard Home Sales
170 home sales have been reported closed so far this year, with a median sold price of $201,000.
Ledyard Real Estate Statistics – Last 180 Days
On November 7th, the Connecticut Multiple Listing Service shows a total of 118 contracts have closed in the last 180 Days with an average sold price of $217,400 (Median of $210,500). TREND IS DOWN since last month.
A total of 56 listings have expired in that same time period. TREND IS DOWN This continues to be an 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 next spring market. 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.
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.