And just like that....
I ran the statistics for this report on June 2nd when there were 110 active listings in Ledyard.Today as I post this blog, listings have increased to 121, about the same number as a year ago. Comparing the same period, prices have dropped about 10%. While that is not very good news, pending listing prices look a bit more encouraging.
When the number of listings increase, price and condition become even more important as there are more homes for a buyer to choose from. There are plenty of buyers still looking and the market remains quite active. Many homes are selling quickly although of the 33 homes currently pending, 25 of them were listed under $250,000.
The market usually stays busy through June but often slows in July and August before another pick up after Labor Day. That being said, we haven't had a predictable market in quite a while so future analysis remains difficult.
The average list price (asking price) of the 110 homes currently on the market is $261,000. There are currently 34 homes pending with an average list price of $229,482. There are an additional 18 homes listed as pending -"show for backup" with an average listed price of $215,767.
History of Ledyard Home Sales
67 home sales have been reported closed in Ledyard during 2015,
with a median sold price of $186,500.
Ledyard Real Estate Statistics - Last 180 Days
On June 3rd, the Connecticut Multiple Listing Service shows a total of 82 contracts have closed in the last 180 Days with an average sold price of $207,143 (Median of $195,500).
A total of 64 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.