Simply Ledyard CT

Ledyard Real Estate Update

If you have been thinking about selling your home, or if your home is on the market, consider what happens typically in Southeastern CT Real Estate this time of year. We have about a month of good selling season left, followed by the summer slow-down, then followed by a solid fall market until the holidays. That doesn't mean that 2012 will be typical  but that scenario is probably a safe bet.

I've been in the real estate business for 35 years and while the last few years have been anything but typical, this year seems to be more routine despite sellers facing challenges like competition from lower priced short sales and foreclosures.

There is good news to report.  The Ledyard Real Estate market has improved since 2011. While prices are not increasing, more homes are selling and inventory is lower. Buyers are taking a long time to make buyer decisions but record breaking interest rates keep them in the hunt.

Link to Ledyard Real Estate Statistics

On May 13th, Ledyard Real Market Reports show a total of 74 contracts have closed in the last 6 months with an average sold price of $219,213 and average days on market of 96. The average list price (asking price) of homes currently on the market is $268,000.

The $150,000 - $250,000 price range contains the highest # of sold listings during the past 6 months. A total of 61 listings have expired in that same time period. The $250,000 - $300,000 price range has the highest number of expired listings at 19 properties. 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.

Ledyard Snapshot

Number of Homes Sold in 2012 - 64
127 residential homes sold in Ledyard in 2011.
139 residential homes sold in Ledyard in 2010.
149 residential homes sold in Ledyard in 2009.
143 residential homes sold in Ledyard in 2008.
213 residential homes sold in Ledyard in 2007.      

The higest priced home to sell in 2012:  $392,000

There were 7 new listings, 3 pending sales and 4 closed sales reported in the past 7 days.

 

 

 

 

 

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.

Ledyard Photo Friday - Strawberry Season

Nothing better than Strawberry Season in Ledyard!  Holmberg Orchards supply pictured here.

Ledyard Real Estate Update

Typically I post my Ledyard Real Estate Update on a Sunday but since I receive the Ledyard Real Market Reports to my inbox on Mondays, it makes sense to send out my reports on the same day. I figured today was a good day to start.

Last week was as slow as they come. If your home is on the market and you had a showing, you were the exception. It would appear that buyers took the week leading up to Memorial Day off. The highest of the 3 pending sales that were reported was listed at $169,900.

Where are home prices actually headed?  I'll let my friend Steve Harney from the KCM Blog respond to that question in his article "Where are house prices actually headed?"

Below you will find a link to Ledyard Real Estate statistics provided by Real Market Reports. This report includes all Ledyard Home Sales as reported to the Connecticut Multiple Listing Service during the past 6 months.

Link to Ledyard Real Estate Statistics

On May 13th, Ledyard Real Market Reports show a total of 71 contracts have closed in the last 6 months with an average sold price of $217,982 and average days on market of 97. The average list price (asking price) of homes currently on the market is $269,056.

The $150,000 - $250,000 price range contains the highest # of sold listings during the past 6 months. A total of 60 listings have expired in that same time period. The $250,000 - $300,000 price range has the highest number of expired listings at 20 properties. 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. 

Ledyard Snapshot

Number of Homes Sold in 2012 - 60
127 residential homes sold in Ledyard in 2011

139 residential homes sold in Ledyard in 2010.

149 residential homes sold in Ledyard in 2009.

143 residential homes sold in Ledyard in 2008.

213 residential homes sold in Ledyard in 2007.     
The higest priced home to sell in 2012:  $392,000

There were 6 new listings, 3 pending sales and 4 closed sales reported in the past 7 days.

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.

Ledyard Memorial Day Events

On Sunday May 29th, the 25th annual Memorial Day Parade will be held starting at 1PM at the Ledyard Fair Grounds. The fairgrounds are located between Ledyard Center School and The First Congregational Church on Route 117. Free parking  is available at Ledyard Middle School and Ledyard High School. A shuttle will be provided.

On Monday May 28th,  beginning at noon,  members of the Ledyard Police Department, K9 unit, and ACO will be at Cows and Cones in Gales Ferry for a meet and greet. 

Kids and adults will be able to look inside the police cruisers, see the lights etc, and then experience a K9 demonstration around 1:00pm. Kimlyn Marshal from the ACO will also be present to display various animals. The Ledyard Police Union will also be handing out tickets to all the children to redeem for a free ice cream.

The Ledyard Food Pantry is low, so they will also be collecting non perishable food items during the day.

Ledyard Real Estate Update

I just returned from the National Association of Realtors Mid-Year meetings in Washington DC, where the news was much more positive than a year ago. Although prices are not increasing in most areas of the country including Connecticut, there are many other signs of improvement.

National Association of Realtors® Chief Economist Lawrence Yun said there are many improving factors that are helping home sales. "Smart money, largely from investors responding to low home prices and rising rents, is chasing real estate, and we could see a potential surge once the broad perception of homeownership changes to that of an appreciating asset," Yun said.

"We just finished the strongest first quarter for home sales in five years, pending contracts are pointing to a strong second quarter, and the favorable conditions are helping the economy recover from an unusual slowdown in household formation in recent years with more young people now leaving their parents' homes."

“Despite a minor gain in total home sales last year, owner-occupied sales fell. "A recovery in investment- and vacation-home sales and a high proportion of all-cash deals are hiding the current dysfunctional mortgage market," Yun said. "Tight mortgage credit is holding back a stronger recovery. Banks are hoarding cash, possibly from regulatory uncertainties and lawsuits."

"Home sales had been basically flat from 2008 through 2011. Yun forecasts 4.6 to 4.7 million existing-home sales in 2012, up strongly from 4.26 million last year, and additional improvement in 2013 with sales rising to the range of 4.7 to 4.8 million."

"Mortgage interest rates are projected to rise gradually and then average 4.9 percent in 2013 - still historically favorable. "The pressure of rising rents on consumer inflation could force the Federal Reserve to raise interest rates in 2014, which might be good for home sales."

Below you will find a link to Ledyard Real Estate statistics provided by Real Market Reports. This report includes all Ledyard Home Sales as reported to the Connecticut Multiple Listing Service during the past 6 months.

Link to Ledyard Real Estate Statistics

On May 13th, Ledyard Real Market Reports show a total of 68 contracts have closed in the last 6 months with an average sold price of $215,452 and average days on market of 97. The average list price (asking price) of homes currently on the market is $269,000.

The $150,000 - $250,000 price range contains the highest # of sold listings during the past 6 months. A total of 63 listings have expired in that same time period. The $250,000 - $300,000 price range has the highest number of expired listings at 20 properties. 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. 

Ledyard Snapshot

Number of Homes Sold in 2012 - 56
127 residential homes sold in Ledyard in 2011

139 residential homes sold in Ledyard in 2010.

149 residential homes sold in Ledyard in 2009.

143 residential homes sold in Ledyard in 2008.

     213 residential homes sold in Ledyard in 2007.   
  
The higest priced home to sell in 2012:  $392,000

There were 6 new listings, 8 pending sales and 3 closed sales reported in the past 7 days.

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.

Photo Friday - My view

I'm in Washington DC this week attending the annual National Association of Realtors Midyear Legislative Meetings. I never get tired of the views from here.

Mrs. Davis goes to Washington

Although not  in the same capacity as Jimmy Stewart in Mr. Smith goes to Washington, this Ledyard Realtor will  be in Washington DC this week to attend the National Association of Realtors Midyear Legislative Meetings and Trade Show.  It is an annual event where industry leaders gather for legislative updates, committee meetings, special issues and the industry trade show.

I've attended the event for several years but this year I've been named a featured attendee and a contributor to MidYear Live.  I'll be blogging and taking photos of the event from my iPad and iPhone. As long as I have a good wifi connection, and the creek don't rise, my contributions will be posted at my Real Estate Solutions Blog.

By the way, if you have never seen the 1939 movie, Mr. Smith goes to Washington, it really is a wonderful and award winning movie that leaves an impression.

Ledyard Real Estate Update

The news in Ledyard real estate this week is creeping inventory. Rising inventory is not unusual for this time of year but it is something to monitor. 10% of the current inventory had a price reduction this week. This is not unexpected either as the average list price is $269,900 while the average sold price is $216,784. That gap needs to narrow a bit to decrease the days on market average time of 98 days.

Here's a good news story. I listed a home for $172,900 this week and immediately had 8 showings and 4 offers. What's the secret?  Priced at market value and although dated, was in mint condition.

Below you will find a link to Ledyard Real Estate statistics provided by Real Market Reports. This report includes all Ledyard Home Sales as reported to the Connecticut Multiple Listing Service during the past 6 months.

Link to Ledyard Real Estate Statistics

On May 6th, Ledyard Real Market Reports show a total of 66 contracts have closed in the last 6 months with an average sold price of $216,784 and average days on market of 98. The average list price (asking price) of homes currently on the market is $269,900.

The $150,000 - $250,000 price range contains the highest # of sold listings during the past 6 months. A total of 63 listings have expired in that same time period. The $250,000 - $300,000 price range has the highest number of expired listings at 22 properties. 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. 

 

Ledyard Snapshot

Number of Homes Sold in 2012 – 53

127 residential homes sold in Ledyard in 2011

139 residential homes sold in Ledyard in 2010.

149 residential homes sold in Ledyard in 2009.

143 residential homes sold in Ledyard in 2008.

     213 residential homes sold in Ledyard in 2007.     
The highest priced home to sell in 2012:  $392,000

 There were 8 new listings, 3 pending sales and 2 closed sales reported in the past 7 days.

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.

Photo pictured above is my new listing on 1722 Center Groton Road in Ledyard

Ledyard Photo Friday

I shot this peanut bag photo a couple years ago in the local Stop and Shop.  It seems appropriate to show it again this time of year.  If you live in Connecticut, you have a few choices when it comes to baseball teams and peanuts. So which kind of fan are you?  Yankees or Red Sox? Or something else?

Ledyard Real Estate Update

I spent last week at RE/MAX International in Denver with a small group of technology geeks. It is always interesting to hear about how business is conducted in other parts of the country. As far as market conditions, most agents are reporting the same news as we are finding here in Ledyard. The number of home sales are up, yet sales prices are down. Interest rates all around the country are at their lowest level ever. Short sales and foreclosures are frustrating but inevitable.

The 2 days I spent at the conference gave me the opportunity to learn about new tools to help my clients as well as witness first hand the amazing REMAX network.

 

Below you will find a link to Ledyard Real Estate statistics provided by Real Market Reports. This report includes all Ledyard Home Sales as reported to the Connecticut Multiple Listing Service during the past 6 months.

Link to Ledyard Real Estate Statistics

On April 30th, Ledyard Real Market Reports show a total of 64 contracts have closed in the last 6 months with an average sold price of $216,027 and average days on market of 102. The average list price (asking price) of homes currently on the market is $271,741

The $200,000 - $250,000 price range contains the highest # of sold listings during the past 6 months. A total of 69 listings have expired in that same time period. The $250,000 - $300,000 price range has the highest number of expired listings at 21 properties. 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. 

Ledyard Snapshot

Number of Homes Sold in 2012 - 51
127 residential homes sold in Ledyard in 2011

139 residential homes sold in Ledyard in 2010.

149 residential homes sold in Ledyard in 2009.

143 residential homes sold in Ledyard in 2008.

     213 residential homes sold in Ledyard in 2007.  
   
The higest priced home to sell in 2012:  $392,000

There were 10 new listings, 4 pending sales and 4 closed sales reported in the past 7 days.

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.