In summary, there were 70 homes listed for sale by Realtors in all of Ledyard including Gales Ferry as of February 1st. This is 4 more than the 66 homes which were actively listed on January 3rd. 49 of these listings were active a month ago on January 3rd, and 33 them were active 3 months ago on November 1st. There were 15 homes under deposit as of February 1st. Finally, there were 14 closings and 21 new listings added in the CTMLS in January for Ledyard.
The average size for the 70 homes which are actively listed is just around 1935 square feet with homes in the range just over 900 to almost 4000 square feet. Homes had 2 to 5 bedrooms with the average at 3.5 bedrooms. The average number of full bathrooms was 1.9 with 40 (~57%) of the 70 homes having one or two half-bathrooms. The following charts provide some additional perspective on attributes of the actively-listed homes.
The average price for a home actively listed in Ledyard on February 1st was a little under $283,000. Listing prices were in the range of $49,000 to $650,000 and a median list price notably higher than the average at around $292,500. The following chart shows how the average listing price varies with number of bedrooms and living area, and shows the number of houses listed in each category in Ledyard.
There were 15 homes under deposit as of February 1st as well. The average listing price for these homes is just under $200,000 with prices in the range $105,000 to almost $270,000. The average size for these homes is just over 1700 square feet with 3.4 bedrooms and 1.9 full bathrooms. The listings for these homes had been active for an average of 64 days.
There were closing transactions for 14 homes in Ledyard last month in January, which was 4 fewer than had closed the previous January in 2015. The average closing price for the homes which closed in January 2016 was a little over $250,000. The average size for these homes was about 2000 square feet with 3.8 bedrooms and 1.9 full bathrooms. 10 (~71%) of these 14 offered one half-bathroom as well.
There were closings for 247 homes in Ledyard in all of 2016. The closing prices for these homes were in the range of $30,000 to $500,000. The average closing price was almost $220,000 and $204,000 was the median. These homes had between 2 and 5 bedrooms and the average was 3.4 bedrooms. There were between 1 and 4 full bathrooms. The average number of full bathrooms was 1.7 and 132 (~53%) of these homes offered one or two half-bathrooms as well. These listings were active for an average of 78 days – about 2.5 months. But the median period for these listings being active was much lower at 48 days – a little over 1.5 months.
As far as longer term trends go, the chart below shows that the number of homes sold generally increased year over year since 2012 with a marked increase in 2016. The higher volumes seem to be driven by 3 and 4 bedroom homes more than homes with other numbers of bedrooms.
In the chart below, the background bars in blue show a 12-month quarterly “rolling average” for the number of days listings stayed active on the market for the five years of 2012 through 2016. This suggests that the amount of time a listing remains active came down slightly after 2012 but has been holding pretty steady since then.
This chart also shows a 12-month quarterly “rolling average” for closing prices for homes with 2, 3, 4, and 5-6 bedrooms as well as an overall average for the same time period. It suggests that closing prices have been more or less holding steady overall and for homes with 3 and 4 bedrooms especially. There seems to have been more fluctuation in the prices for the 2 and 5-6 bedroom homes.
The final chart below shows the average closing price per square foot per year for homes by number of bedrooms. This suggests that the average closing price adjusted for size of the home has been increasing slightly but steadily, especially for the homes with 3 and 4 bedrooms.
We’ll be monitoring the market over the coming months to see if there are other trends or data of interest which we can share with you and will post these to our Ledyard Real Estate Page.
The data reported above was based on data obtained from the CTMLS as of 2/1/2017. If you are looking for a home in the Ledyard area or if you would like to work with a local Realtor, please feel free to call us. We look forward to helping you find just the right home for you.