When will Ledyard housing hit bottom? Of course no one really knows and we will only know for certain when we are on our way back up. In December 2007, I read an industry publication called Ris Media's Real Estate and they answered the question this way: "Optimists have been saying for more than a year that the worst is behind us, while the pessimists have been saying recovery is still a year, or years, away." It would appear that 5 years later, the pessimists were correct.
I will hazard an educated guess. I think we are almost there and by next spring we should see more positive signs. I do believe it will take years for Ledyard to reach the peak prices of 2005 but the trends starting next year should be encouraging.
P.S. I will be out of town the week of August 26th. My weekly report will return on September 3rd. Wow! Where did the summer go?
Below you will find a link to Ledyard Real Estate statistics provided by Real Market Reports. This report includes all Ledyard Home Sales as reported to the Connecticut Multiple Listing Service during the past 6 months.
On August 19th, Ledyard Real Market Reports show a total of 90 contracts have closed in the last 6 months with an average sold price of $231,729and average days on market of 103. The average list price (asking price) of homes currently on the market is $272,841.
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 13 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 - 104
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 7 new listings, 3 pending sales and 4 closed sales reported in the past 7 days.
The lovely home above, although not in Ledyard, is my newest listing
in Preston and located at 115 Miller Road.
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.