At least once a month I receive an email asking about a 3.8% tax on the sale of homes that is hidden in the Health Care Bill. While I personally admit to not liking ObamaCare, I can assure you that there won't be a tax on home sales except for a very tiny percentage of home sellers. I still don't like it but it won't effect most of my home sellers.
Those with incomes over $200,000 a year ($250,000 for married couples filing jointly) will be subject to it. Even for those home sellers who have high incomes, the tax still won’t apply to the first $250,000 on profits from the sale of a personal residence - or to the first $500,000 in the case of a married couple selling their home. You will find more details from my friends over at the Keeping Current Matters Blog.
On July 15th, Ledyard Real Market Reports show a total of 87 contracts have closed in the last 6 months with an average sold price of $225,868 and average days on market of 106. The average list price (asking price) of homes currently on the market is $268,001.
The $150,000 - $200,000 price range contains the highest # of sold listings during the past 6 months. A total of 45 listings have expired in that same time period. The $250,000 - $300,000 price range has the highest number of expired listings at 14 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.
Number of Homes Sold in 2012 - 88
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: $395,000
There were 5 new listings, 4 pending sales and 1 closed sale 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 above is of my new listing at 13 Queen Eleanor Drive.