2017 continues the positive trend of 2016 which ended with the highest number of closed sales since 2005. The 15 closed sales so far in 2017 have a very respectable median price of $225,000. Inventory remains very low with 74 homes on the market in Ledyard.
I believe spring is going to be good for Ledyard Home Sellers but condition and proper pricing will remain critical. The difference between great condition and average condition can affect home values by a significant margin. If you are thinking of selling your home this year, please ask for a copy of our Dress Your House for Success checklist. We would be happy to send it to you.
On the Market
Inventory remains at the lowest level of recent years (good news for sellers). On February 4th there are ONLY 74 single family homes on the market In Ledyard with a median price of $282,000. Of these 16 are new construction.
Current Pending Sales
There are currently 28 pending listings with a median list price of $204,000. There are currently 12 pending sales but "Show for Backup" with a median list price of $237,000. Homes are often listed as "Show for Backup" when there may be a concern about contract contingencies including financing.
In 2016, there were 247 closed sales in Ledyard with a median sales price of $204,000. 2017 has started off with a positive note with 15 closed sales in Ledyard with a median sales price of $225,000. 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 118 homes that have closed in the past 6 months is $225,000.
The median price of the 118 homes that have sold in the past 6 months is $225,000.
Real Estate News
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Data to Consider
This LINK will take you to 2016 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.
Photo above is of 2 Van Tassel Drive.
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.