New national data shows 4.1 percent of the state's housing stock was in foreclosure as of December, giving it the seventh highest foreclosure rate in the country according to CoreLogic, which provides analysis of property data.

Even so, Connecticut's foreclosure stock was not even half of the state with the highest amount, Florida, where 11.9 percent of the housing stock was in foreclosure.

Following Florida, 6.4 percent of New Jersey's homes were in foreclosure, 5.4 percent of Illinois' homes were foreclosed on, Nevada's housing stock was 5.3 percent in foreclosure, 4.6 percent of New York's houses were in foreclosure, and just in front of Connecticut, 4.2 percent of Maine's homes made up the foreclosure inventory.

The web is full of mortgage and financial news and I find it important to keep up to date and follow any developing trends. Most of the news I view online but some arrives in my inbox. I use the weekend to catch up on my reading, try to get my inbox to zero (never happens), and clean out my feedreader. This article comes from the Commercial Record.

I'm certainly not disappointed in our lack of snow this winter. I can't help but wonder if the weather is helping our real estate market because I have some very good news to report  for sellers.
There were no new listings reported during the past 7 days in Ledyard. Keeping inventory low gives fewer choices to buyers and eventually helps stabilize falling prices. To add to the good news, there were 7 pending sales reported. While I can't report that prices are increasing, homes are beginning to sell again.

Below you will find a link to Ledyard Real Estate statistics provided by Real Market Reports. This report includes all Ledyard Home Sales as reported to the Connecticut Multiple Listing Service during the past 6 months.

Link to Ledyard Real Estate Statistics

On February 7th, Ledyard Real Market Reports show a total of 56 contracts have closed in the last 6 months with an average sold price of $222,446 and average days on market of 105. The average list price (asking price) of homes currently on the market is $262,669.

The $150,000 - $200,000 price range contains the highest # of sold listings. A total of 74 listings have expired in that same time period. The $250,000 - $300,000 price range has the highest number of expired listings at 16 properties. Listings may expire for many reasons such as being priced too high, having been inadequately marketed, the property was in poor condition, or perhaps the owner had second thoughts about selling at this particular time. 

Ledyard Snapshot
Number of Homes Sold in 2012 - 13
127 residential homes sold in Ledyard in 2011.
139 residential homes sold in Ledyard in 2010.
149 residential homes sold in Ledyard in 2009.
143 residential homes sold in Ledyard in 2008.
     213 residential homes sold in Ledyard in 2007.    
The highest priced home to sell in 2012:  $348,000

There were no new listings, 7 pending sales and 1 closed sale reported in the past 7 days.

Photo above of 5 Birch Street in Ledyard

Listings and sales reported by the members of the CT Multiple Listing Service, Inc and may not represent all sales.
Information deemed reliable but not guaranteed.

Last winter I held several snow guessing contests. This year hasn’t given us many opportunities but it looks like snow may be on the way. Here are the rules: Snow will be measured with the official ruler on my deck in Gales Ferry. You must live in Ledyard now or have lived in Ledyard in the past to be eligible. You must guess by midnight tonight on my Ledyard Facebook Page!  Closest without going over wins a $25 gift certificate to a Ledyard business of your choice.

P.S. Disclaimer: Snow measuring is not an exact science.

I know many of you will be cheering for your team in the Super Bowl today. My team, the Steelers, didn't make it this year but I have something else to cheer about today. There were 8 closed sales reported in Ledyard last week and 4 of them closed over $300,000. Only 7 homes sold over $300,000 in the past 6 months, so this is expremely good news!  Go team Ledyard!

 Ledyard Real Estate statistics are provided by Real Market Reports. This report includes all Ledyard Home Sales as reported to the Connecticut Multiple Listing Service during the past 6 months.

Link to Ledyard Real Estate Statistics

On January 30th, Ledyard Real Market Reports show a total of 49 contracts have closed in the last 6 months with an average sold price of $225,286 and average days on market of 101. The average list price (asking price) of homes currently on the market is $260,901.

The $150,000 - $200,000 price range contains the highest # of sold listings. A total of 77 listings have expired in that same time period. The $250,000 - $300,000 price range has the highest number of expired listings at 19 properties. Listings may expire for many reasons such as being priced too high, having been inadequately marketed, the property was in poor condition, or perhaps the owner had second thoughts about selling at this particular time. 

Number of Homes Sold in 2012 - 12
127 residential homes sold in Ledyard in 2011.
139 residential homes sold in Ledyard in 2010.
149 residential homes sold in Ledyard in 2009.
143 residential homes sold in Ledyard in 2008.
   213 residential homes sold in Ledyard in 2007.  
   
The higest priced home to sell in 2012:  $348,000

There were 8 new listings, 4 pending sales and 8 closed sales reported in the past 7 days.

 Listings and sales reported by the members of the CT Multiple Listing Service, Inc and may not represent all sales.
Information deemed reliable but not guaranteed.

No matter what your origin, wouldn’t one or the other make the point.?

I'm often asked how we determine "absorption rate".  Absorption rate is an estimate of how fast listings are currently selling measured in months.  For example, if 100 properties sell per month and there are 800 properties for sale - there is an 8 month supply of  inventory before counting the additional properties that will come on the market.  6 months inventory is considered a "balanced" market.

Currently in Ledyard, there is an average of a 13 month supply of inventory. The $350,000 - $400,000 supply of inventory is the highest at 20 months.  Only 3 homes have sold in that price range in the past 6 months.

Below you will find a link to Ledyard Real Estate statistics provided by Real Market Reports. This report includes all Ledyard Home Sales as reported to the Connecticut Multiple Listing Service during the past 6 months.

Link to Ledyard Real Estate Statistics

On January 23rd, Ledyard Real Market Reports show a total of 49 contracts have closed in the last 6 months with an average sold price of $222,386 and average days on market of 102. The average list price (asking price) of homes currently on the market is $260,687.

The $150,000 - $200,000 price range contains the highest # of sold listings. A total of 75 listings have expired in that same time period. The $250,000 - $300,000 price range has the highest number of expired listings at 19 properties. Listings may expire for many reasons such as being priced too high, having been inadequately marketed, the property was in poor condition, or perhaps the owner had second thoughts about selling at this particular time. 

Ledyard Snapshot

Number of Homes Sold in 2012 - 4

127 residential homes sold in Ledyard in 2011

139 residential homes sold in Ledyard in 2010.

149 residential homes sold in Ledyard in 2009.

143 residential homes sold in Ledyard in 2008.

  213 residential homes sold in Ledyard in 2007. 
    
The highest priced home to sell in 2011: $480,000

There were 6 new listings, 2 pending sales and 3 closed sales reported in the past 7 days. 

Photo of my listing at 54 Seabury Avenue

Listings and sales reported by the members of the CT Multiple Listing Service, Inc and may not represent all sales.
Information deemed reliable but not guaranteed.