June 25, 2006

Gales Ferry/Ledyard Weekly Update

Home listings and sales in Ledyard during the week of 6/18/06

Wow! The rains came and the number of listings grew. There were 16 new listings in Ledyard last week - the largest number of new listings in any week this year. 4 of those listings were in the new construction Stonegate Village over 55 community. There were only 3 pending sales this week. Ledyard inventory has reached a much higher level than is healthy for a balanced market. The advantage has definitely shifted to the buyer.

Average days on the market (DOM) in all of Eastern CT is now approximately 96 days. The number of new listings usually begins to slow after the 4th of July but this year is an unusual one so I won't make any predictions.

*Statistics from sales reported by the members of the Eastern Connecticut REALTORS® Information Service, Inc. do not represent all sales. Information deemed realiable but not guaranteed.

by Linda Davis, RE/MAX Realty Group

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by Linda Davis

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