Ledyard and Gales Ferry Real Estate Update

There are now 108 active residential listing in Ledyard as the number of listings continues to increase.  Since the beginning of the year, only one or two homes have sold per week in Ledyard. This week there were no pending sales and no closed sales and this is cause for concern.  I spoke to 2 appraisers this week and both told me they are now indicating on their appraisal reports that we are in a "declining" market.  If your home is on the market, it is very important to be aware of this, so you don't find yourself in a position of chasing the market down.

There were 10 price reductions
this week in Ledyard totaling over $210,000.

Today's Ledyard Snapshot:

Number of Ledyard Homes Currently for Sale:  108
(Last week there were 105 and one year ago there were 110 residential listings in Ledyard)

Number of home currently pending:  15

Number of homes sold in 2008:  21