The East Lyme Real Estate Market Report is a monthly statement of the median sales price for homes, the number of sales, the average price per square foot for homes, the number of homes for sale, and the average listing price of East Lyme homes for sale.
According to Zillow.com, the median home value in East Lyme is $278,700.
East Lyme home values have declined -1.8% over the past year and Zillow predicts they will fall -2.0% within the next year.
The median list price per square foot in East Lyme is $150, which is higher than the New London Metro average of $146.
Find out what's happening in Waterfordwith free, real-time updates from Patch.
The median price of homes currently listed in East Lyme is $333,500 while the median price of homes that sold is $269,412.
Foreclosures will be a factor impacting home values in the next several years. In East Lyme 2.5 homes are foreclosed (per 10,000). This is lower than the New London Metro value of 5.0 and also lower than the national value of 5.0
Find out what's happening in Waterfordwith free, real-time updates from Patch.
Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in East Lyme is 9.7%, which is higher than the national value of 8.0%.
With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of East Lyme homeowners underwater on their mortgage is 14.7%, which is lower than New London Metro at 24.7%.
Bridget Morrissey is a 2012-13 Woman of FIRE (FINANCE-INSURANCE-REAL ESTATE) Recipient awarded by the Warren Group and The Commercial Record of Boston, MA and presented by Lt Governor Nancy Wyman.
If you want to list your home for sale then call, text or email Bridget and ask for herFREE 27 point TOP DOLLAR MARKETING PLAN!
Licensed in Connecticut and Rhode Island
RE/MAX Coast and Country
Olde Mistick Village
