When it comes to Ledyard Real Estate, the good news continues. Pending sales remain high and the total number of residential closed sales is on track to exceed the number of sales in each of the past 10 years. Prices are slowly moving in the right direction and inventory is at its lowest level of the year. With less than a 5 month supply of homes for sale, I would expect prices to rise after the first of the year.
On the Market
Inventory is at the lowest level of the year (good news for sellers). There are currently 80 single family homes on the market. The median list price is $266,000. There were 21 new or back on the market listings reported in November. Having shifted from a buyer's market to a balanced market, we are beginning to see a small increase in prices.
Current Pending Sales
There are currently 33 pending listings with a median list price of $220,000.
There are currently 19 pending sales but "Show for Backup" with a median list price of $293,000. Homes are often listed as "Show for Backup" when there may be a concern about contract contingencies including financing.
Both the current pending sales price and the current pending "show for backup" price are an increase from last month.
There are currently 226 closed sales in Ledyard with a median sales price of $205,000.
There were 19 closed listings in November.
While it is useful to follow month by month, a 6 month trend is a better indicator of market conditions. The median price of the 131 homes that have closed in the past 6 months is $215,000. This number is trending up and exceeds the median sold price in 2015!
The median price of the 131 homes that have sold in the past 6 months is $215,000.
Data to Consider
This LINK will take you to 2015 New London County Market Statistics by Town, including Ledyard as prepared by the Eastern CT Association of Realtors using sales reported by the members of the Connecticut Multiple Listing Service.
About the author: Linda Davis has been a licensed real estate agent in Ledyard CT for over 35 years. She has a long history of community service and currently serves as Chairman/Deputy Mayor of the Ledyard Town Council. Linda is the administer of the popular Ledyard Community Forum on Facebook and also teaches and speaks on technology, mostly for beginners. Linda can help with homes for sale in Ledyard as well as homes for sale in Eastern CT including, Groton, Mystic, Stonington, Norwich, Montville, New London, East Lyme, or Waterford.
Listings and sales reported by the members of the CT MLS, Inc and may not represent all sales. Information deemed reliable but not guaranteed.