Excerpt from: Simply Ledyard
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| September 16, 2006 | | Home listings and sales in Ledyard since September 2nd | There have been 132 closed single family home sales in Ledyard during 2006. Coincidently, there are 132 active listings at this time. Since it has taken 8 1/2 months to sell 132 homes, that reflects an 8 1/2 month supply of inventory. During the past two weeks there were 18 new listings and 7 pending sales. There were 4 closed sales. It is always helpful to review data from neighboring towns to be sure Ledyard isn't experiencing unique market conditions. This week I reviewed East Lyme statistics. East Lyme has had 145 home sales so far in 2006 but they currently have 179 active listings. OUCH. Here is the interesting part: 72 of the current East Lyme listings are priced over $500,000 and 68 have closed over $500,000 so far this year. Ledyard currently has only 8 listings priced over $500,000 with only 3 having closed this year over $500,000. While both East Lyme and Ledyard have seen plenty of new construction in the past few years, East Lyme grew bigger and more expensive houses. Some of those homes are now on the market and I'm afraid sellers have a bit of a wait to catch a buyer. Who's the winner in this market? East Lyme buyers looking for high-end houses. There are sure plenty to look at.
*Statistics from sales reported by the members of the Eastern Connecticut REALTORS® Information Service, Inc. do not represent all sales. Information deemed realiable but not guaranteed.
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