Ledyard Real Estate Update

There were only 10 closed sales in Ledyard during the month of November, the lowest volume of sales in a given month for the year. There have been 168 closed sales in Ledyard through November 30, 2006.  In 2005, there were a total of 251 closed sales.

The only good news for sellers is that inventory dropped to less than 130 homes for sale after a high of 141 in October.  But while interest rates are favorable and there is plenty of inventory, buyers are taking their time to make a decision. They are not feeling much pressure knowing there are plenty of homes to choose from.  A recent buyer looking at one of my listings had previously viewed 41 homes in his price range.  2 years ago, that wouldn't be possible as inventory was at its lowest level - one third the level of what it is today.

I expect December to be much the same as November with dropping inventory but not much activity.