Activity has increased over the past few months as pending sales are staying ahead of last year and closed sales have already well exceeded the number of closed sales in 2011. Although it does not appear that Ledyard is going to see much of an increase in average sales price in 2012, I am ready to declare that the Ledyard Real Estate Market has reached bottom. This assumes we don't see a major change in the local employment picture including that of a certain pharmaceutical company.
During the past seven days, there was another drop in the number of Active Listings. This lower inventory is due to the combination of a higher number of pending sales plus frustrated sellers giving up by either renting their homes or taking them off the market altogether. The Chart of the Week below shows you the break-down of the 24 pending sales.
The average list price (asking price) of the 95 homes currently on the market is $256,096. There are currently 24 homes pending with an average sold price of $217,617.
There were 5 new listings, 6 pending sales and 3 closed sales reported in the past 7 days.
Ledyard Chart of the Week
137 residential homes sold in Ledyard in 2012.
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
Ledyard Real Estate Statistics (6 Months)
On October 21st, the Connecticut Multiple Listing Service shows a total of 95 contracts have closed in the last 6 months with an average sold price of $228,998 and average days on market of 115. The $250,000 - $299,000 price range contains the highest # of sold listings (23) during the past 6 months.
A total of 63 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.
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.