July's real estate statistics continue to bring good news for Ledyard home sellers. Perhaps the most interesting statistic in July was the $269,900 median sales price of the 29 homes that closed during the month. Comparatively speaking, over the past several years this is a pretty positive number.
Inventory has climbed a bit to 82 active listings but this is still quite low compared to a year ago when there were 115 Ledyard homes on the market. Even better news for sellers, the 151 closed sales in 2017 have a median sold price of $235,000 a significant increase over the median closed price in 2016 of $204,900.
With inventory still low, I expect an excellent fall market. Traditionally September and October are good months but I expect this year we might see better than great!
On the Market
On August 6th there were 82 single family homes on the market In Ledyard with a median price of $287,639. While this is an increase over the past two months, inventory is still relatively low and buyers don't have a big selection in certain price ranges. There are only 14 homes listed under $200,000 throughout Ledyard.
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Current Pending Sales
There are currently 26 pending listings with a median list price of $237,250.
There are 11 pending sales but "Show for Backup" with a median list price of $219,000. Homes are often listed as "Show for Backup" when there may be a concern about contract contingencies including financing.
This combined total of 37 pending sales is a drop from a month ago but not unusual during the summer market.
In 2016, there were 247 closed sales in Ledyard with a median sales price of $204,000.
2017 offers positive news with 151 closed sales to date in Ledyard with a median sales price of $235,000
There were 29 Ledyard closed sales in July with a median sales price of $269,900
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 134 homes that have closed in the past 6 months is $236,500.
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Listings and sales reported by members of the CTMLS, Inc and may not represent all sales.
Information deemed reliable but not guaranteed.