Is New London, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, New London was a Seller's Market.
Housing Prices in New London, NC
How much do homes in New London, NC cost?
Median Sold Price
$307,997
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in New London was $307,997 in April 2024, down 4.9% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $140.8K | $91K | -35.4% |
2 Bedrooms | $155.7K | $180.7K | +16.0% |
3 Bedrooms | $350K | $435K | +24.3% |
4 Bedrooms | $675K | $630K | -6.7% |
5+ Bedrooms | $1.0M | $783K | -26.3% |
Summary: New London housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 35.4%, 2 bedroom homes increased by 16%, 3 bedroom homes increased by 24.3%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes decreased by 26.3%.
Median Sold Price Compared To Nearby Cities
Harris Township | $291.2K | $294.3K | +1.1% |
New London | $323.9K | $307.9K | -4.9% |
Housing Supply in New London, NC
How many homes are available in New London, NC?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
96 | 102 | +6.3% |
Summary: The New London real estate market had 102 homes for sale in April 2024, a 6.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 21 | 21 | 0.0% |
2 Bedrooms | 27 | 30 | +11.1% |
3 Bedrooms | 33 | 37 | +12.1% |
4 Bedrooms | 12 | 10 | -16.7% |
5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The New London housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 12.1%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
16 | 14 | -12.5% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in New London in April 2024, down by 12.5% month-over-month. Of the 14 sold homes, 71% were sold under asking, 14% were sold at asking, and 14% were sold over asking.
Days on Market for New London, NC
How long does it take to sell a home in New London, NC?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
54 Days | 87 Days | +60.7% |
Summary: Homes in New London had an average of 87 days on market in Apr 2024, up by 60.7% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During April 2024, 14 homes were sold in New London; 36% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.