Ledyard Real Estate Quick Stats

Quick Stats:  Active Listings in Ledyard remain at a historically low number while closed sales prices are up from 2016. The numbers presented below have remained mostly stable over the last two months. The median price of residential home sales in Ledyard in 2016 was $204,000 so we are seeing a nice uptick as we head into the spring market.

Quick Stats

Listings and sales reported by the members of the CT MLS, Inc and may not represent all sales.
Information deemed reliable but not guaranteed.


Eastern CT Mortgage Monday

Keith-TurnerEastern CT Mortgage Monday by Keith Turner of McCue Mortgage

The biggest delay in processing a mortgage is collecting all of the documentation required.  So when a buyer is beginning the home buying process, it is best for them to create a folder and gather up these documents as soon as possible.  Some loan types don’t require all of these documents but it’s better to have them ready if they are needed.

1.  W2’s or 1099’s for the past 2 years

2.  1 month’s current pay stub(s) or Disability/Pension/Retirement letter

3.  Residence addresses for the past 2 years (start/end dates)

4.  Names, addresses, and phone of each employer – past 2 years (start/end dates) – (Unofficial School Transcript if right out of school)

5. ALL PAGES of last 2 months bank statements for all checking, savings, mutual funds/401k’s, etc. (Must show account number, your name, & bank’s name on documents)

6.  Green Card (if applicable)

7.  Certificate of Eligibility (VA)

8.  Last 2 years complete, signed Federal Tax Returns and all schedules. (Last 3 years if CHFA)

9.  Copy of Divorce Decree (if applicable)

10. Fully Executed Purchase Agreement (The Contract) AND a Copy of deposit checks for purchase of home

11. Driver’s License (Front and Back)

12.  Gift (if applicable): Bank Statement showing the donor has the funds available to give.

It’s all about organization.  The more organized, the easier and less stressful the process is for your clients and therefore you as well.  Let me know if you have any questions about this.  I would be glad to help.

You will find Keith’s contact information HERE.


Ledyard Real Estate Quick Stats

Quick Stats:  Active Listings in Ledyard remain at a historically low volume while closed sales prices are up from 2016. The median price of residential home sales in Ledyard in 2016 was $204,000.

Quick Stats

Listings and sales reported by the members of the CT MLS, Inc and may not represent all sales.
Information deemed reliable but not guaranteed.


Ledyard Real Estate Quick Stats

Quick Stats:  Active Listings in Ledyard remain at a historically low volume while closed sales prices are up from 2016. The median price of residential home sales in Ledyard in 2016 was $204,000.

Quick Stats

 Listings and sales reported by the members of the CT MLS, Inc and may not represent all sales.
Information deemed reliable but not guaranteed.


Lakeside Condominiums

3L LakesideI've always had a fondness for Lakeside Condominiums. I’ve listed and sold many over the years. They are priced moderately and offer lots of amenities including a swimming pool, tennis courts, a playground and a clubhouse. The country setting is unique for a large condo project. Highlands Lake is adjacent to the complex and provides swimming, play areas and recreational opportunities. Lakeside was the first condominium project in Ledyard and still remains the largest. There are 140 units at Lakeside, 26 of those units have garages.

I remember the publicity when Lakeside Condominiums were converted from apartments back in the early 1970's. I found an old sales brochure from back then and had to chuckle when I read the hype.

"Hook Your Kids on Fresh Air - The fabled days of Mark Twain conjure up images of freckled faces, dirt roads and swimming holes. Those days are all but gone from our lives. But they were good days. Lakeside recreates the idea of growing up in the country. Away from the pressures and distractions of the city. It's a family place. For the young family, a place to grow as your children grow. Surrounded by trees, grass and the good life. You'll do great things at lakeside. Like picnicking in your own backyard...swimming in the pool...playing tennis....or just sitting in the sun. Children need a place like Lakeside. Some don't thrive on the confinements of the city life. They need that room that old Huck Finn knew so well. And what our children need...we need too."

Who would have thought that 30 years later that same ad would be a fair housing violation due to the promotion of Lakeside as a place for families? Or that Lakeside Condominiums would be in the shadow of Foxwood's, the world's largest casino? Yes, Huck, times do change.


Ledyard Real Estate Update

2017-01-25 12.48.56Unseasonably warm weather and low inventory contributed to a solid real estate market during the first two months of 2017. The 31 Ledyard closed sales so far in 2017 have a median sold price of $229,900, significantly higher than the median closed price in 2016 of $204,900. Although climbing slightly, inventory remains low with 77 homes on the market in Ledyard. 18 of the 77 homes on the market are new construction, many of them not built yet, giving buyers little inventory to choose from.

I still 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 quite low (good news for sellers). On March 5th there are ONLY 77 single family homes on the market In Ledyard with a median price of $267,500. Of these, 18 are new construction.

Current Pending Sales

There are currently 23 pending listings with a median list price of $264,900. There are also 10 pending sales but listed as "Show for Backup" with a median list price of $218,500. Homes are often listed as "Show for Backup" when there may be a concern about contract contingencies including financing. 

Closed Sales

In 2016, there were 247 closed sales in Ledyard  with a median sales price of $204,000. 

2017 has started off on a positive note with 31 closed sales in Ledyard with a median sales price of $229,900. There were 14 Ledyard closed sales in February.

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 $215,000.

Ledyard Closed Sales 2016

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 17 Bobwhite Trail in Gales Ferry.

Linda Davis TransparentAbout the author:  Linda Davis has been a licensed real estate agent in Ledyard CT for over 40 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.


Ledyard Real Estate Quick Stats

Quick Stats:  Active Listings in Ledyard increased again slightly from last weekend but still remain at a historically low volume while closed sales prices are up from 2016. The median price of residential home sales in Ledyard in 2016 was $204,000.

Quick Stats

 

Looking Back:

Previous Ledyard Stats

Listings and sales reported by the members of the CT MLS, Inc and may not represent all sales. Information deemed reliable but not guaranteed.


Ledyard Housing Rehabilitation Loan Program

LedyardMany Ledyard Residents have been helped with this 0% interest program.

If you qualify and would benefit from the program, please contact Charles Karno, Town Planner at planner@ledyardct.org or 860.464.3215.

Eligible repairs include the correction of health and safety violations, septic system repairs, code compliance, energy conservation measures, lead paint remediation, and general home improvements such as roofing, carpentry, doors and windows, electrical, plumbing, heating, and other non-luxury work subject to approval of the Town.

ELIGIBILITY
Eligibility is based on a combination of household size and annual household income.
You may be eligible to receive funding if your annual household income is at or below the following amounts:
Household Income Size
1 $46,1000
2 $52,650
3 $59,250
4 $65,800
5 $71,100
6 $76,350
7 $81,600
8 $86,900
* Income limits are subject to periodic change.

LOANS
Funds are typically offered in the form of deferred loans to owner/ occupants. Deferred loans are 0% interest loans which require no re-payment until a transfer of title, refinancing, the Owner’s demise, or the subject property is no longer the applicant’s principle place of residence. All loans are secured with a mortgage deed, promissory note, and memorandum of agreement.

Click HERE for more information

 


Ledyard Real Estate Quick Stats

Quick Fact:  Active Listings in Ledyard increased slightly from last weekend but still remain at a historically low volume while closed sales prices are up from 2016. The median price of residential home sales in Ledyard in 2016 was $204,000.

Quick Stats

 

Listings and sales reported by the members of the CT MLS, Inc and may not represent all sales. Information deemed reliable but not guaranteed.


Ledyard's Berwick Subdivision

Ledyard subdivisions come in all shapes and sizes but none is as unique as BerwickThe 18 wooded home-sites of Berwick were developed as a subdivision in 1973.  With 150 acres, each lot contains about 5 acres, although several are much larger.  Most of the homes were custom built, which allows for a wide range of styles including traditional colonials, contemporaries and even a log home.

When you ask someone from Ledyard where Berwick is located, it is most likely they have never heard of it. Although Berwick is located within a very short  drive of the Mystic I-95 exit, it is tucked away off the quiet end of Gallup Hill Road, where most Ledyard/Gales Ferry residents seldom travel. Berwick is made up of three streets, Avebury Berwick, Chatham Berwick and Brentford Berwick.

Many of the residents of Berwick are original owners and homes are not often for sale in the subdivision. When the original subdivision lots were being sold, Berwick was described as “an exceptional community for very private people who enjoy peaceful seclusion in a rustic setting.”  This is still true over 40 years later.

Berwick