Foreclosures are in the news this week, as the number throughout the state took a significant jump in June. According to Realty Trac, Ledyard has 28 bank foreclosures plus 33 additional properties in pre-foreclosure or some stage of default. I'll be watching this trend in the months to come and have added it to our chart below.
This is not a real estate market for part timers and those that "dabble" in the business. I work full time and have 33 years of experience. This is my third down market, and although this is by far the worst, there is always some good news to report.
Here is your very good news : There were 3 pending sales to report last week, so despite mostly bad news in the housing market, homes in Ledyard are still selling! And mortgage rates are ridiculously low!! Who would have imagine that rates under 4% would be offered on some mortgage products? (Sorry for all the explanation points, sometimes I just can't help myself.)
The chart above provided by Altos Research depicts Ledyard residential inventory.
The chart above provided by the Connecticut Multiple Listing Service.
Ledyard Real Estate - Week of July 5th
Number of Ledyard Homes Currently Pending: 28
Number of Homes Sold in 2010: 64
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: $386,000
According to Realty Trac, Ledyard has 28 bank foreclosures plus 33 additional properties in pre-foreclosure.
Comments