There are currently 2,495 real estate properties in East Lyme, CT, with a median automated valuation model (AVM) price of $384,800.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in East Lyme, CT, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in East Lyme, CT, is $411,599.00, with the most expensive house in East Lyme, CT, topping out at $3,837,800.00 and the cheapest home in East Lyme, CT, clocking in at $121,000.00. In other words, there’s something for every potential homebuyer or savvy investor in East Lyme, CT!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in East Lyme, CT, is on a rollercoaster ride. The average rent price in East Lyme, CT, is $1,928.00. Indeed, when looking to rent in East Lyme, CT, you can expect to pay as little as $1,170.00 or as much as $4,040.00, with the average rent median estimated to be $1,920.00. The good news is that finding an affordable and desirable property to rent in East Lyme, CT -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the East Lyme, CT area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in East Lyme, CT and much more. Save thousands at closing with home foreclosure listings in East Lyme, CT — up to 75% off market value!
East Lyme is located in New London, Connecticut, with an estimated municipal population of 18,724 residents. All of the best foreclosed homes for sale in East Lyme are located in the following zip code areas on Foreclosure.com: 06357 06333. The estimated population per square kilometer (.62 miles) in East Lyme is 212.
So, about how much do homes cost in East Lyme? The most recent median value of resident-owned homes in East Lyme is 311,338. An estimated 76.1 percent of households in East Lyme own their homes, with an average family size of 2.81. The median household income in East Lyme is 95,217, with47.5 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in East Lyme, the median commute time of resident workers (in minutes) is 24.2. And last, but certainly not least, are you looking for homes to rent in East Lyme? If so, the average rent price paid by renters in East Lyme is 1,321, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to East Lyme, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in East Lyme is 48.2, split between 45.9 percent male versus 54.1 female. The percentage of residents who report being married in East Lyme is 50.3, with an average family size of 2.81.
The percentage of residents who report their race in East Lyme is as follows:
|Black / African American||3.6%|
|American Indian / Alaskan Native||0%|
|Native Hawaiian / Other Pacifc Islander||0%|
Looking for family-friendly neighborhoods in and/or near East Lyme? Or maybe you are searching for 55+ active adult communities in and/or near East Lyme?
The percentage of residents who report their age in East Lyme is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in East Lyme with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in East Lyme.
How do you know that living in -- or moving to -- East Lyme is right where you need to be? Perhaps you grew up in East Lyme or already live nearby; therefore, the decision to buy a home in East Lyme is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to East Lyme for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in East Lyme:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like East Lyme.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in East Lyme can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in East Lyme, meanwhile, can field multiple offers from more qualified buyers.