Despite the softening of the New London County real estate market, the average price of a residential home in the area was still over $300,000 in 2006.* If you can't afford that kind of price tag or prefer to keep your payments more manageable, there are still plenty of opportunities for you. But if you are looking under $200,000 in certain towns, be prepared to live smaller. How small? In North Stonington the only residential listing under $200,000 is less than 500 square feet, and in Niantic, you might be near the water, but you'll need to squeeze yourself into about 600 square feet of living space. In Ledyard, Groton and Montville, the news is a bit better. While each of those towns has fewer than 10 active listings under $200,000, you can find a 3 bedroom, 1 bath home of about 1000 square feet for under $200,000. The very best opportunities to find moderately priced real estate is in New London, where the average price in 2006 was $248,000 and Norwich with a $221,500 average price. You'll find plenty of homes in each of those towns under $200,000 and you'll even have room to stretch your legs! *Statistics from sales reported by the members of the Eastern Connecticut REALTORS® Information Service, Inc. do not represent all sales. Information deemed reliable but not guaranteed. |
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