Today's update presents some general statistics plus a snapshot of what happened in Ledyard real estate during the month of July.
July's real estate news continues to be the increasing amount of home inventory. There are currently 148 homes for sale in Ledyard, up 40% from a year ago. In the good news department, the number of closed sales is up 15% over a year ago although the average and median sales price does remain flat at around $215,000.
This is probably a good time to mention that similar statistics can be found in towns all over Eastern CT. If you happen to be a buyer, you should find good inventory in most towns in the area. As always, homes that are priced fairly and in good condition will sell. We have a couple of traditionally good selling months still ahead.
LEDYARD REAL ESTATE SCOOP: There were 43 homes listed, 9 pending sales and 19 closed sales reported during the month of July. A total of 115 homes have closed in Ledyard to date in 2014. Inventory remains high for this time of year at 148 active residential listings with an average listed price of $261,863. Due to the large amount of new listings this month, there is currently over a year's supply of inventory which is an indicator of a strong buyer's market.
The average list price (asking price) of the 148 homes currently on the market is $261,863. There are currently 23 homes pending with an average list price of $252,691. There are an additional 12 homes listed as pending -"show for backup" with an average listed price of $195,167.
There were 43 new listings reported during the month of July
There were 19 closed sales reported during the month of July.
History of Ledyard Home Sales
115 residential homes have sold to date in 2014.
(Median Price of $213,500)
The highest priced residential home to sell since 2012 is $465,000
Ledyard Real Estate Statistics -Last 6 Months
On August 3rd, the Connecticut Multiple Listing Service shows a total of 115 contracts have closed in the last 6 months with an average sold price of $221,218 (Median of $215,000).
A total of 37 listings have expired in that same time period. 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.