 The first quarter sold comparisons are in and as reported in the New London Day Newspaper this week, the number of sales in New London County is down by about 22%, while medium prices were down about 9% from a year ago. Based on first quarter pending sales, I suspect the second quarter will not be much better. It appears that sales prices are declining by about 1% per month.
There were 3 new listings this week plus a few that expired so listing inventory remained stable. While the numbe of solds compares favorably to one year ago, the pending story is quite different. There are currently 18 pending sales. One year ago there were 46 pending sales. The other big news continues to be the number of price reductions. There were 10 price reductions this week totaling $68,000. So what's the good news? Interest rates remain favorable and showings have increased in certain price ranges. April and May are usually good selling months so let's hope this year is no exception. Today's Ledyard Snapshot: Number of Ledyard Homes Currently for Sale: 118
Last week there were 122 and one year ago there were 108 residential listings in Ledyard. Number of Ledyard Homes Currently Pending: 18
One year ago there were 46 pending sales in Ledyard. Number of Homes Sold in 2008: 29
One year ago there were 33 closed sales in Ledyard. The highest priced home to sell in Ledyard this year: $459,997 There were 10 price reductions this week, totaling $68,000. | 
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