$9,441 Closing Credit*
$795,000
384 SqFt
1 Bed
•1 Full Bath
Angela Ruel, Listing Office: Berkshire Hathaway NE Prop.
Is Old Lyme, CT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$615,000
$295/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$45,625(+8.0%)
Key Takeaway
Homes in Old Lyme have sold for 8% more than they did a year ago.
Summary: The median home sold price in Old Lyme was $615,000 in November 2024, up 8% from last year, and the median price per square foot was $295.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $252K | - | N/A |
| 2 Bedrooms | $430K | $415K | -3.5% |
| 3 Bedrooms | $525.2K | $627.5K | +19.5% |
| 4 Bedrooms | $655.5K | $652.5K | -0.5% |
| 5+ Bedrooms | $980K | $715K | -27.0% |
Summary: Old Lyme housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.5%, 3 bedroom homes increased by 19.5%, 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
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 67 | 60 | -10.4% |
Summary: The Old Lyme real estate market had 60 homes for sale in November 2024, a 10.4% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 9 | 0.0% |
| 3 Bedrooms | 26 | 17 | -34.6% |
| 4 Bedrooms | 23 | 24 | +4.3% |
| 5+ Bedrooms | 9 | 10 | +11.1% |
Summary: The Old Lyme housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 34.6%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 13 | +8.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Old Lyme, you could pay more than the asking price. 46.2% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Old Lyme in November 2024, up by 8.3% month-over-month. Of the 13 sold homes, 31% were sold under asking, 23% were sold at asking, and 46% 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
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