Ledyard and Gales Ferry Real Estate Update

It would appear that the spring real estate market is "warming up." Note that I didn't say "heating up". It isn't as busy as it needs to be to get back on track, but showings continue to increase and homes ARE selling. There are currently 105 active listings in Ledyard, a preety good drop since my last report. That drop is primarily due to the 5 pending sales reported, as well as a number of expired listings. In addition, there were only 2 new residential listings reported.

Of the 5 pending sales reported in Ledyard last week, the highest was listed at $326,000. There were 3 closed sales, the highest sale closed at $234,000.

There are a total of only 23 residential closed sales in Ledyard as of this date, with 16 of those having sold under $250,000. There is no question as evidenced by those numbers that first time homebuyers are a major segment of the market.

The illustration of my office above was painted by local artist Robert Campbell of Gales Ferry.