This week I received a call from another Ledyard neighbor concerned about the terrible condition of a home that has been vacant in her neighborhood for well over a year. This is one of many phone calls I have had this year with the same concern, foreclosures left to deteriorate.
Unfortunately these homes hurt property values but in many cases, the banks have not completed the foreclosure process and there is no one to complain to about the mess left behind by the previous homeowner. In other cases, the trail of which bank actually owns the home is a puzzle to solve as the original mortgage has traded hands multiple times.
If you have a foreclosure in your neighborhood that you are concerned about, I am happy to try to track it down for you. I can't make any promises that we can turn the bank into a good neighbor, but I've had some luck figuring out who is responsible.
The average list price (asking price) of the 97 homes currently on the market is $265,534. There are currently 22 homes pending with an average sold price of $219,005.
There were 7 new listings, 3 pending sales and 7 closed sales reported in the past 7 days.
The highest priced home to sell in 2012: $395,000
134 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.
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 October 7th, the Connecticut Multiple Listing Service shows a total of 96 contracts have closed in the last 6 months with an average sold price of $227,915 and average days on market of 120. The $250,000 - $299,000 price range contains the highest # of sold listings (23) during the past 6 months.
A total of 56 listings have expired in that same time period. The $300,000 - $399,000 price range has the highest number of expired listings at 20 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.)