The big news this week was the extension and expansion of the homebuyer  tax credit. The National Association of Realtors has provided most of the details at The Basics: The Extended Homebuyer Tax Credit.

Without debating the politics or whether the tax credit is good for the economy, there is no question that the 2009 credit increased the number of sales (not prices) in the Ledyard area. Now, even current Ledyard homeowners can take advantage of the credit.

As far as last week, the Ledyard Real Estate market can be described in one short word: slow. Most of my Ledyard listings did not have a single showing.There were 4 new listings, only 1 pending sale and 1 closed sale in Ledyard last week. Each of the 8 price reductions last week averaged $10,000.

In case you missed it last week, on Friday, October 30th, Google announced that real estate listings can now be found by going to Google Maps and clicking on the "More" button in the upper right corner of the map page.  Select "Real Estate" and an overlay of properties for sale will appear on your Google map as well as a search window to the left letting you select "For Sale", "For Rent" and "Foreclosure" property types. Try it out!  http://maps.google.com/   Don't forget to click on "More" in the upper right corner to enable REAL ESTATE.

Ledyard Snapshot - November 8, 2009

Number of Ledyard Homes Currently for Sale: 101
Last week there were 108 active listings in Ledyard.

Number of Ledyard Homes Currently Pending:  25

Number of Homes Sold in 2009: 120
There were 143 residential home sales in Ledyard in 2008.
There were 213 residential home sales in Ledyard in 2007.

The highest priced home to sell in 2009:  $385,000
(The highest price in 2008 was $740,000)

This week’s photo was taken on Inchcliffe Drive in Gales Ferry.