There is continued good news in 2017 as low inventory and an increase in the number of buyers contributes to a solid real estate market through April of 2017. The 65 closed sales in 2017 have a median sold price of $229,900, significantly higher than the median closed price in 2016 of $204,900. Although climbing, inventory remains low with 77 homes on the market in Ledyard. One year ago, there were 112 residential homes on the market in Ledyard.
If you would like to be notified by email as listings become available, go under deposit or sell in your neighborhood, we would be happy to add you to our automatic MLS search. Just send me an email and I will set it up. It is quick and easy.
I'm on a rant! I know I sound like a broken record some months but I strongly suggest once again that photos can make the difference in how long it takes to sell a home. I'm constantly amazed at the poor quality of photos used to market homes in our area. Today's buyers will look at photos first before deciding whether to tour a home. I've seen a few that would stop buyers from ever taking a look! In some cases it is the subject but in many it is an agent with poor photography skills. I take most of the photos on our listings and I admit to being pretty fussy.
On the Market
Inventory remains quite low (good news for sellers). On May 6th there were ONLY 79 single family homes on the market In Ledyard with a median price of $259,900.
Current Pending Sales
There are currently 32 pending listings with a median list price of $244,450.
There are 28 pending sales but "Show for Backup" with a median list price of $241,050. Homes are often listed as "Show for Backup" when there may be a concern about contract contingencies including financing.
The combined total of 60 pending listings is outstanding and we haven't seen a number that high since the peak years of 2005 - 2007.
In 2016, there were 247 closed sales in Ledyard with a median sales price of $204,000.
2017 offers positive news with 65 closed sales in Ledyard with a median sales price of $229,900.
There were 17 Ledyard closed sales in April with a median sales prices of $214,900.
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 102 homes that have closed in the past 6 months is $219,700.
Listings and sales reported by the members of the CT MLS, Inc and may not represent all sales.
Information deemed reliable but not guaranteed.
Photo above is of 128 Whalehead Road in Gales Ferry