Let the Fall Selling season begin!! We had 7 pending sales this week which is a great start to the season. In addition you will notice in the statistics below that Ledyard has closed 197 residential sales which equals the number of sales in 2011!
The fall market in Ledyard, while not as busy as spring, is usually a good one. One reason? Both buyers and sellers want to be settled before the holidays. The National Association of Realtors makes an interesting point about the make-up of fall buyers which could also explain why larger homes tend to sell easier in the spring and summer.
"We've observed in seasonal household buyer patterns that there is a higher ratio of first-time buyers and childless couples in the fall," says Walter Molony, economic issues media manager at the National Association of REALTORS®. "Families with children time their purchase based on school-year considerations, so they peak in the spring and summer.”
For those that have followed my blog and this newsletter for awhile, you know occasionally I change the format. I decided to do that again this week. I think you will find it easier to follow Ledyard real estate market conditions.
The average list price (asking price) of the 101 homes currently on the market is $262,874. There are currently 25 homes pending with an average sold price of $202,996.
There were 4 new listings, 7 pending sales and 5 closed sales reported in the past 7days.
Number of Homes Sold in 2012 - 127
(Average Price = $230,640)
The highest priced home to sell in 2012: $395,000
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.
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.
Ledyard Real Estate Statistics
Last 6 Months
On September 30th, the Connecticut Multiple Listing Service shows a total of 90 contracts have closed in the last 6 months with an average sold price of $234,555 and average days on market of 106. The $250,000 - $299,000 price range contains the highest # of sold listings (22) during the past 6 months.
A total of 53 listings have expired in that same time period. The $300,000 - $399,000 price range has the highest number of expired listings at 22 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.
Ledyard Foreclosure Report
According to data provided from CoreLogic through the Connecticut MLS, there are currently 5 homes in Ledyard and Gales Ferry in "Pre-foreclosure" and 20 "bank owned" homes. This number has been holding steady for several months. Pre-foreclosure is defined as the period after the lender has filed the original complaint and a lis pendens on the property, indicating the intent to foreclose. (Not all will end up being bank owned.)