Is East Lyme, CT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, East Lyme has remained a Seller's Market.
Key Takeaway
East Lyme is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in East Lyme, CT
How much do homes in East Lyme, CT cost?
Median Sold Price
$459,333
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in East Lyme have sold for 16.8% more than they did a year ago.
Summary: The median home sold price in East Lyme was $459,333 in April 2024, up 16.8% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $183K | $225.4K | +23.2% |
| 2 Bedrooms | $300K | $330K | +10.0% |
| 3 Bedrooms | $385K | $445K | +15.6% |
| 4 Bedrooms | $500K | $535K | +7.0% |
| 5+ Bedrooms | $655K | $869K | +32.7% |
Summary: East Lyme housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.2%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 15.6%, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 32.7%.
Housing Supply in East Lyme, CT
How many homes are available in East Lyme, CT?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 64 | 65 | +1.6% |
Summary: The East Lyme real estate market had 65 homes for sale in April 2024, a 1.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 20 | 22 | +10.0% |
| 3 Bedrooms | 30 | 27 | -10.0% |
| 4 Bedrooms | 10 | 13 | +30.0% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The East Lyme housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 10%, 3 bedroom homes decreased by 10%, 4 bedroom homes increased by 30%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 16 | 20 | +25.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East Lyme, you could pay more than the asking price. 45% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in East Lyme in April 2024, up by 25.0% month-over-month. Of the 20 sold homes, 40% were sold under asking, 15% were sold at asking, and 45% were sold over asking.
Days on Market for East Lyme, CT
We’re sorry, we don't have information for this market at the moment
Copyright © 2024 Smart MLS. The data relating to real estate for sale on this website appears in part through the SMARTMLS Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by SMARTMLS through a licensing agreement. Listing information is from various brokers who participate in the SMARTMLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed.