Is Lyme, CT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Lyme has remained a Buyer's Market.
Key Takeaway
Lyme is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lyme, CT
How much do homes in Lyme, CT cost?
Median Sold Price
$625,000
$320/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Lyme have sold for 23.7% less than they did a year ago.
Summary: The median home sold price in Lyme was $625,000 in March 2024, down 23.7% from last year, and the median price per square foot was $320.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $345K | N/A |
| 2 Bedrooms | $625K | $420K | -32.8% |
| 3 Bedrooms | $827K | $650K | -21.4% |
| 4 Bedrooms | $706K | $705K | -0.1% |
| 5+ Bedrooms | $622.5K | $1.0M | +63.5% |
Summary: Lyme housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 32.8%, 3 bedroom homes decreased by 21.4%, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes increased by 63.5%.
Median Sold Price Compared To Nearby Cities
| East Lyme | $391K | $455K | +16.4% |
| Deep River | $307.5K | $357.5K | +16.3% |
| Old Lyme | $547.1K | $630K | +15.1% |
| Chester | $420K | $428K | +1.9% |
| Lyme | $819K | $625K | -23.7% |
Housing Supply in Lyme, CT
How many homes are available in Lyme, CT?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 14 | -12.5% |
Summary: The Lyme real estate market had 14 homes for sale in March 2024, a 12.5% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Lyme housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 1 | -66.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Lyme, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Lyme in March 2024, down by 66.7% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 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.