Ledyard Real Estate Update 5-12-2013
May 12, 2013
I'm taking the train to Washington DC tomorrow for the National Association of Realtors Mid-Year Convention. It is my favorite conference for collecting information on current trends and news about the industry. Even though I'm out of town, I have my iPad on my lap the whole time to stay connected with what is happening in Ledyard.
I wasn’t surprised to read the Day article this week, “April real estate: More Sales, but lower prices.” by Lee Howard. That is certainly the story in Ledyard where, unfortunately, the average sales price isn’t moving in the right direction. In 2012, my calculations show that Ledyard closed a total of 180 residential transactions with an average selling price of $223,598. Today we have 53 closed transactions and an average selling price of $195,455.
If I asked you what percentage of US Taxpayers take the Mortgage Interest Rate Deduction, how would you answer? You will find the answer in my Chart of the Week below. Let me know if it surprises you.
Ledyard Snapshot
The average list price (asking price) of the 94 homes currently on the market is $279,564. There are currently 28 homes pending with an average listed price of $244,300. There are an additional 19 homes listed as "show for backup" with an average listed price of $195,984.
There were 8 new listings, 7 Pending Sales and 4 Closed Sales reported in the past 7 days.
History of Ledyard Home Sales
53 residential homes have sold so far in 2013.
179 residential homes sold in Ledyard in 2012.
127 residential homes sold in Ledyard in 2011.
139 residential homes sold in Ledyard in 2010.
149 residential homes sold in Ledyard in 2009.
143 residential homes sold in Ledyard in 2008.
213 residential homes sold in Ledyard in 2007.
The highest priced residential home to sell in 2012 & 2013: $395,000
Ledyard Real Estate Statistics - Last 6 Months
On May 12th, the Connecticut Multiple Listing Service shows a total of 85 contracts have closed in the last 6 months with an average sold price of $199,102
A total of 33 listings have expired in that same time period. The $200,000 - $249,999 price range has the highest number of expired listings at 11 properties. 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.
Ledyard Chart of the Week
Are you surprised that only 25% of US Taxpayers use the Mortgage Interest Rate Deduction. Chart compiled from the Keeping Current Matters Blog using data from the Pew Charitable Trusts.
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