Ledyard Real Estate Report 7-15-2012

REAL ESTATE MARKET REPORTLEDYARD Su M Tu W Th F Sa Sunday, July 15 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 22 29 16 23 30 17 24 31 18 25 19 26 20 27 21 28 2012 TABLE OF CONTENTS Charts and Commentary ……………………………………………….. Pages 1-2 Market Summary Table ……………………………………………….. Page 3 Glossary ………………………………………………………………... Page 4 Linda Davis www.SimplyLedyard.com LindaCDavis@gmail.com 860-381-0443 Real Market Reports RealMarketReports.com

REAL ESTATE MARKET REPORTLEDYARD Sunday, July 15, 2012 Linda Davis LindaCDavis@gmail.com 860-381-0443 Lets take a look at the real estate market. Currently The pending ratio indicates the supply & demand of the market. Specifically, Taking a closer look, we notice that the $150K - $200K price range has a there are 35 sales pending in the a high ratio means that listings are in relatively large number of contracts market overall, leaving 119 listings still demand and quickly going to contract. pending sale. for sale. The resulting pending ratio is Alternatively, a low ratio means there 22.7% (35 divided by 154). So you are not enough qualified buyers for the We also notice that the $200K - $250K might be asking yourself, thats great... existing supply. price range has a relatively large but what exactly does it mean? Im inventory of properties for sale at 27 glad you asked! "Current inventory is described listings. The median list price (or as mildly active." asking price) for all properties in this market is $264,000. Properties For Sale Number of Listings For Sale vs. Pending Contract Contracts Pending Ledyard 30 Updated on 7/15/2012, RealMarketReports.com Copyright © Linda Davis 25 20 15 10 5 0 $0K $50K $100K $150K $200K $250K $300K $350K $400K $450K $500K $550K $600K $650K $700K A total of 87 contracts have closed in Sold Num Sold vs. Off-Market (Last 6 mos.) the last 6 months with a median sold Off-Market Ledyard price of $213,000. Breaking it down, 25 we notice that the $150K - $200K price Updated on 7/15/2012, RealMarketReports.com Copyright © Linda Davis range contains the highest number of 20 sold listings. 15 Alternatively, a total of 45 listings have failed to sell in that same period of time. Listings may fail to sell for many 10 reasons such as being priced too high, having been inadequately marketed, 5 the property was in poor condition, or perhaps the owner had second 0 thoughts about selling at this particular time. The $250K - $300K price range $0K $50K $100K $150K $200K $250K $300K $350K $400K $450K $500K $550K $600K $650K $700K has the highest number of off-market listings at 14 properties. Real Market Reports 1 Market Dashboard RealMarketReports.com

REAL ESTATE MARKET REPORTLEDYARD Sunday, July 15, 2012 Linda Davis LindaCDavis@gmail.com 860-381-0443 Looking at the chart to the right, you might be wondering why average days Sold Median Days on Market (DOM) on market (DOM) is important. This is For Sale Ledyard a useful measurement because it can 300 Updated on 7/15/2012, RealMarketReports.com help us to determine whether we are Copyright © Linda Davis in a buyers market (indicated by high 250 DOM), or a sellers market (indicated by low DOM). Active listings 200 (properties for sale) have been on the 150 market for a median time of 76 days. 100 Analysis of sold properties for the last six months reveals a median sold 50 price of $213,000 and 76 days on market. Notice that properties in the 0 $150K - $200K price range have sold $0K $50K $100K $150K $200K $250K $300K $350K $400K $450K $500K $550K $600K $650K $700K quickest over the last six months. The recent history of sales can be seen in the two charts below. The median sold price for the last 30 days "The median list-to-sales ratio Analysis of the absorption rate was $252,500 with a DOM of 74 days. for this area is 93.0%." indicates an inventory of 8.2 months based on the last 6 months of sales. Since the recent DOM is less than the Ratios are simple ways to express the This estimate is often used to median DOM for the last 6 months, it difference between two values such as determine how long it would take to is a positive indicator for demand. It is list price and sold price. In our case, sell off the current inventory of always important to realize that real we typically use the list-to-sale ratio to properties if all conditions remained estate markets can fluctuate due to determine the percentage of the final the same. It is significant to mention many factors, including shifting interest list price that the buyer ultimately paid. that this estimate does not take into rates, the economy, or seasonal It is a very common method to help consideration any additional properties changes. buyers decide how much to offer on a that will come onto the market in the property. future. Median Sold Prices Median Days on Market (Sold) Ledyard Ledyard $300K 120 $250K 100 $200K 80 $150K 60 $100K 40 $50K Copyright © Linda Davis 20 Copyright © Linda Davis Updated on 7/15/2012, RealMarketReports.com Updated on 7/15/2012, RealMarketReports.com $0K 0 Feb Mar Apr May Jun Jul Feb Mar Apr May Jun Jul Real Market Reports 2 Market Dashboard RealMarketReports.com

REAL ESTATE MARKET REPORTLEDYARD Sunday, July 15, 2012 Linda Davis LindaCDavis@gmail.com 860-381-0443 ABSORPTION RATE MARKET SUMMARY TABLE 35 PENDING [2] 45 OFF-MARKET (last 6 mos) [3] (months of inventory) A = Average Value M = Median Value N/A = Not Available 119 ACTIVE [1] 87 SOLD/CLOSED (last 6 months) [4] Price Range Days Current Days Original Final Sold/ List- Num Num Pend Num Num Est. on List on List List Closed Sale Low High # # Ratio # # Mos. Market Price Market Price Price Price Ratio $0 $49,999 0 0 0 0 A 220 $ 99,900 A 95 $ 140,000 $ 106,950 $ 76,500 72% $50,000 $99,999 1 1 50% 1 2 3 M 220 $ 99,900 M 95 $ 140,000 $ 106,950 $ 76,500 72% A 151 $ 136,875 A 118 $ 144,358 $ 129,435 $ 123,442 95% $100,000 $149,999 10 6 38% 1 13 4.6 M 89 $ 144,475 M 88 $ 144,900 $ 125,900 $ 123,000 98% A 149 $ 184,565 A 68 $ 188,000 $ 181,559 $ 176,459 97% $150,000 $199,999 15 9 38% 8 22 4.1 M 104 $ 185,000 M 56 $ 186,000 $ 181,450 $ 178,500 98% A 169 $ 230,220 A 104 $ 245,960 $ 232,900 $ 223,313 96% $200,000 $249,999 27 3 10% 8 16 10.1 M 114 $ 229,900 M 69 $ 239,950 $ 232,400 $ 227,500 98% A 82 $ 278,029 A 113 $ 458,625 $ 282,994 $ 270,744 96% $250,000 $299,999 24 8 25% 14 16 9 M 53 $ 279,900 M 87 $ 299,950 $ 282,400 $ 270,000 96% A 99 $ 326,848 A 118 $ 356,550 $ 340,386 $ 327,220 96% $300,000 $349,999 27 4 13% 10 14 11.6 M 68 $ 324,900 M 76 $ 349,950 $ 346,450 $ 329,950 95% A 124 $ 374,622 A 215 $ 410,975 $ 399,725 $ 381,175 95% $350,000 $399,999 9 4 31% 3 4 13.5 M 74 $ 379,900 M 252 $ 422,450 $ 412,450 $ 383,500 93% A 194 $ 428,317 $400,000 $449,999 6 0 0 0 M 265 $ 427,500 $450,000 $499,999 0 0 0 0 $500,000 $549,999 0 0 0 0 $550,000 $599,999 0 0 0 0 $600,000 $649,999 0 0 0 0 $650,000 $699,999 0 0 0 0 $700,000 + 0 0 0 0 Market Totals 119 35 23% 45 87 8.2 Market Averages 130 $ 268,001 106 $ 278,179 $ 235,741 $ 225,868 96% Market Medians 76 $ 264,000 76 $ 239,000 $ 229,000 $ 213,000 93% Date Range (Off-Market & Sold) = 01/15/2012 to 07/15/2012 Favors Sellers Favors Buyers Data believed to be accurate but not guaranteed. Status = [1] ACT, NEW; [2] SHOW, DEPOS; [3] EXP; [4] CLOSE Area# = 73 Property Type = RES Real Market Reports 3 Market Summary Table RealMarketReports.com

REAL ESTATE MARKET REPORTLEDYARD Sunday, July 15, 2012 Linda Davis LindaCDavis@gmail.com 860-381-0443 1. PROPERTIES FOR SALE (ACTIVE) a. Number Active: The number of listings for sale which are currently being marketed but do not yet have a purchase agreement. b. Days on Market (DOM): The marketing period of currently active listings. This does not account for some listings which have had a previous listing period, but were re-entered as a new listing. c. Current List Price: The price that a property seller is currently asking. 2. CONTRACTS PENDING a. Number Pending: The number of current listings for which a contract has been signed but has not yet closed. b. Pending Ratio: Sometimes called a “list-to-pending ratio”. This is a measure of how fast properties are going under contract vs. how fast they are being listed. Pending Ratio = P (Number of Pending Listings) A+P (Number of Active + Pending) (P) represents properties that buyers have chosen (A+P) represents the entire pool from which they have chosen 3. OFF-MARKET a. Number Off-Market: The number of listing agreements that have failed to close in the last 6 months. Some owners may choose to re-offer their property for sale. 4. PROPERTIES SOLD (CLOSED CONTRACT) a. Number Sold: The number of properties that have gone to a closing in the last 6 months. b. Days on Market (DOM): The marketing time it has taken properties to sell in the last 6 months. c. Original List Price: The price at which a sold property was originally marketed. d. Final List Price: The price at which a sold property was marketed just prior to selling. e. Sold/Closed Price: The price for which a property sold. f. List to Sales Ratio: The percentage of the list price that the buyer ultimately paid for the property. List to Sales Ratio = Sold Price Final List Price 5. ABSORPTION RATE / MONTHS OF INVENTORY a. Absorption Rate / Months of Inventory: 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. Real Market Reports 4 Glossary RealMarketReports.com

Ledyard Real Estate Report 7-15-2012

by Linda Davis on Jul 16, 2012

Accessibility

Categories

Upload Details

Usage Rights

Statistics

Ledyard Real Estate Report 7-15-2012 Document Transcript