Ledyard and Gales Ferry Real Estate Statistics for the week of February 21st
Finally some good news to report! Inventory dropped to 105 active listings in Ledyard last week and the reason for the drop is the best news of all! There were 7 pending sales reported last week. That's the most sales reported in a given week for quite awhile.
Of the homes currently listed in Ledyard, the average days on market is 136. There were 8 rather large price reductions last week totaling $115,000. I suspect that the reductions were an effort by the sellers to get their homes sold before the April 30th deadline of the extended tax credit.
In national news last week, First American Core Logic reported that 24% of residential properties are underwater. Underwater means that the mortgage balance owed is higher than market value. Many of these properties are located in 5 states: California, Florida, Nevada, Arizona and Michigan.
Ledyard home owners are also feeling the effects of foreclosure. According to Realty Trac, there are 22 bank owned homes in Ledyard due to foreclosure and 35 homes in pre-foreclosure.
Ledyard Real Estate - February 28, 2010
Number of Ledyard Homes Currently for Sale: 105
Last week there were 111 active listings in Ledyard.
Number of Ledyard Homes Currently Pending: 17
Number of Homes Sold in 2010: 12
There were 149 residential home sales in Ledyard in 2009.
There were 143 residential home sales in Ledyard in 2008.
There were 213 residential home sales in Ledyard in 2007.
The highest priced home to sell in 2009 & 2010: $385,000
Listing and sales reported by the members of the Connecticut Multiple Listing Serve, Inc and may not represent all sales. Information deemed reliable but not guaranteed.