Is East Lyme, CT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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
$457,500
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in East Lyme have sold for 14.4% more than they did a year ago.
Summary: The median home sold price in East Lyme was $457,500 in May 2024, up 14.4% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $199K | $225.4K | +13.3% |
| 2 Bedrooms | $300K | $330K | +10.0% |
| 3 Bedrooms | $382.5K | $455K | +19.0% |
| 4 Bedrooms | $500K | $534.5K | +6.9% |
| 5+ Bedrooms | $715K | $900K | +25.9% |
Summary: East Lyme housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.3%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 19%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 25.9%.
Housing Supply in East Lyme, CT
How many homes are available in East Lyme, CT?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 68 | 70 | +2.9% |
Summary: The East Lyme real estate market had 70 homes for sale in May 2024, a 2.9% 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 | 22 | 26 | +18.2% |
| 3 Bedrooms | 29 | 26 | -10.3% |
| 4 Bedrooms | 13 | 14 | +7.7% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The East 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 18.2%, 3 bedroom homes decreased by 10.3%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 19 | -9.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East Lyme, you could pay more than the asking price. 57.9% of homes here sold above asking price last month.
Summary: A total of 19 homes were sold or pending in East Lyme in May 2024, down by 9.5% month-over-month. Of the 19 sold homes, 21% were sold under asking, 21% were sold at asking, and 58% 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
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