$6,947 Closing Credit*
$585,000
1,212 SqFt
2 Beds
•1 Full Bath
Nancy Mesham, Listing Office: Coldwell Banker Realty
Is Old Lyme, CT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Old Lyme has remained a Seller's Market.
Key Takeaway
Old Lyme is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Old Lyme, CT
How much do homes in Old Lyme, CT cost?
Median Sold Price
$620,000
$314/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$50,000(+8.8%)
Key Takeaway
Homes in Old Lyme have sold for 8.8% more than they did a year ago.
Summary: The median home sold price in Old Lyme was $620,000 in October 2024, up 8.8% from last year, and the median price per square foot was $314.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $345K | $153K | -55.7% |
| 2 Bedrooms | $432.5K | $407.5K | -5.8% |
| 3 Bedrooms | $510.5K | $631.2K | +23.6% |
| 4 Bedrooms | $655.5K | $652.5K | -0.5% |
| 5+ Bedrooms | $980K | $715K | -27.0% |
Summary: Old Lyme housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 55.7%, 2 bedroom homes decreased by 5.8%, 3 bedroom homes increased by 23.6%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes decreased by 27%.
Housing Supply in Old Lyme, CT
How many homes are available in Old Lyme, CT?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 57 | 69 | +21.1% |
Summary: The Old Lyme real estate market had 69 homes for sale in October 2024, a 21.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 9 | +28.6% |
| 3 Bedrooms | 27 | 27 | 0.0% |
| 4 Bedrooms | 15 | 24 | +60.0% |
| 5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The Old Lyme housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 28.6%, 3 bedroom homes remained the same, 4 bedroom homes increased by 60%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 12 | -20.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Old Lyme, you could pay more than the asking price. 41.7% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Old Lyme in October 2024, down by 20.0% month-over-month. Of the 12 sold homes, 33% were sold under asking, 25% were sold at asking, and 42% were sold over asking.
Days on Market for Old 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.