Is New London, CT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, New London has remained a Seller's Market.
Key Takeaway
New London is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in New London, CT
How much do homes in New London, CT cost?
Median Sold Price
$265,000
$167/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in New London have sold for 8.2% more than they did a year ago.
Summary: The median home sold price in New London was $265,000 in March 2024, up 8.2% from last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $117.4K | $140K | +19.3% |
| 2 Bedrooms | $215K | $235K | +9.3% |
| 3 Bedrooms | $264K | $269.9K | +2.2% |
| 4 Bedrooms | $247K | $294K | +19.0% |
| 5+ Bedrooms | $285K | $328K | +15.1% |
Summary: New London housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.3%, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 19%, and 5+ bedroom homes increased by 15.1%.
Housing Supply in New London, CT
How many homes are available in New London, CT?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 55 | 57 | +3.6% |
Summary: The New London real estate market had 57 homes for sale in March 2024, a 3.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 5 | 0.0% |
| 2 Bedrooms | 13 | 13 | 0.0% |
| 3 Bedrooms | 14 | 11 | -21.4% |
| 4 Bedrooms | 11 | 8 | -27.3% |
| 5+ Bedrooms | 12 | 20 | +66.7% |
Summary: The New London housing inventory by bedroom type for March 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 21.4%, 4 bedroom homes decreased by 27.3%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 18 | +100.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New London, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in New London in March 2024, up by 100.0% month-over-month. Of the 18 sold homes, 33% were sold under asking, 11% were sold at asking, and 56% were sold over asking.
Days on Market for New London, CT
We’re sorry, we don't have information for this market at the moment
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