Is Lyme, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 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, NY
How much do homes in Lyme, NY cost?
Median Sold Price
$135,450
$157/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Lyme have sold for 32.2% less than they did a month ago.
Summary: The median home sold price in Lyme was $135,450 in May 2024, down 32.2% from last month, and the median price per square foot was $157.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $199.9K | $28.9K | -85.5% |
| 4 Bedrooms | - | $242K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Lyme housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 85.5%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Lyme, NY
How many homes are available in Lyme, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 22 | +83.3% |
Summary: The Lyme real estate market had 22 homes for sale in May 2024, a 83.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 5 | +150.0% |
| 3 Bedrooms | 5 | 10 | +100.0% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Lyme housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 150%, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lyme, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Lyme in May 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Lyme, NY
How long does it take to sell a home in Lyme, NY?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 108 Days | 61 Days | -43.5% |
Summary: Homes in Lyme had an average of 61 days on market in May 2024, down by 43.5% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Lyme are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Lyme; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
