 Inventory in Ledyard crept over 100 this week, the first time since November 2007 that the number of active residential listings reached that milestone.
The low number of homes that are selling continues to be a concern. Since the beginning of the year, only one or two homes have sold per week in Ledyard and this week is no exception with only 1 pending sale. (That home was listed at $249,900.) So what's the problem? Although interest rates remain favorable, I believe the problem has become "affordability". The buyer pool has dwindled because of tightening credit due to the subprime mess, and the rapid rise of home prices between 2002 and 2005. I attended a zoning commission meeting last week where Jane Dauphinais from the Southeastern CT Housing Alliance provided a startling statistic. "In 2005, a family making the median income couldn't qualify for the median sales priced home in 157 of the state's 169 municipalities." Today's Ledyard Snapshot Number of Ledyard Homes Currently for Sale: 102
Last week there were 97 and one year ago there were 108 residential listings in Ledyard Number of homes with price reductions this week: 5 Number of homes currently pending: 14 Number of homes sold in 2008: 14 The highest priced home in Ledyard this year: $459,997 | 
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