We are in a seller's market! This is great news for sellers but not so good for buyers as inventory continues to drop in 2017! There are only 64 active residential listings in Ledyard, a significant drop from only 30 days ago when there were 79 homes on the market. Even better news for sellers, the 96 closed sales in 2017 have a median sold price of $231,500 a mighty increase over the median closed price in 2016 of $204,900.
With inventory so low, I expect a strong summer market although traditionally July and August are slow months as home buyers are occupied with vacations and school preparation.
If you would like to be notified by email as listings become available, go under deposit or sell in your neighborhood, we would be happy to add you to our automatic MLS search. Just send me an email and I will set it up. It is quick and easy.
On the Market
As mentioned above, inventory remains quite low (good news for sellers). On June 6th there were ONLY 64 single family homes on the market In Ledyard with a median price of $279,500.
Current Pending Sales
There are currently 29 pending listings with a median list price of $269,900. There are 30 pending sales but "Show for Backup" with a median list price of $225,000. Homes are often listed as "Show for Backup" when there may be a concern about contract contingencies including financing. The combined total of 59 pending listings is outstanding and we haven't seen a number that high since the peak years of 2005 - 2007.
In 2016, there were 247 closed sales in Ledyard with a median sales price of $204,000.
2017 offers positive news with 96 closed sales to date in Ledyard with a median sales price of $231,500
While it is useful to follow month by month, a 6 month trend is a better indicator of market conditions. The median price of the 113 homes that have sold in the past 6 months is $227,900.
Real Estate News
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Data to Consider
This LINK will take you to 2016 New London County Market Statistics by Town, including Ledyard as prepared by the Eastern CT Association of Realtors using sales reported by the members of the Connecticut Multiple Listing Service.
Listings and sales reported by the members of the CT MLS, Inc and may not represent all sales.
Information deemed reliable but not guaranteed.