Last week I reported that listing inventory did not increase in Ledyard.  This week we paid the price as 9 new listings came on the market.  Inventory increased to 141 listings, the highest level in several years.  There was only one pending sale this week.  With only 1 or 2 sales per week, we are faced with well over a one year supply of inventory. 

Last year at this time there were 139 pending or sold listings in Ledyard. Today there are only 69 pending or sold listings, a 50% decline from last year. Despite that gloomy news, buyers are looking and homes are selling, some very quickly.  Condition and price continue to make the difference.  Average condition just isn't good enough.

Today's Ledyard Snapshot:

Number of Ledyard Homes Currently Pending:  24
Last week there were 134 and one year ago there were 118 residential listings in Ledyard.

Number of Ledyard Homes Currently Pending:  24
One year ago there were 56 pending sales in Ledyard.

Number of Homes Sold in 2008: 45
One year ago there were 83 closed sales in Ledyard

The highest priced home to sell in Ledyard this year:  $459,997

There were 12 price reductions this week totaling a whopping $248,000!

This week's photo was taken at Colonel Ledyard Park