Is New London County, CT a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New London County is a seller's market

Buyer's
Market

Difference Since October 2021

Since last year, New London County has remained a Seller's Market.

Key Takeaway

New London County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in New London County, CT cost?

Median Sold Price

$298,694

$178/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$26,339(+9.7%)

Key Takeaway

Homes in New London County have sold for 9.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $119K$141K
+18.5%
2 $184.2K$209.8K
+13.9%
3 $275.2K$305K
+10.8%
4 $355.5K$381.5K
+7.3%
5+ $333.3K$314.7K
-5.6%

Median Sold Price Compared To Nearby Counties

Washington County
+16.7%
Windham County
+11.4%
New London County
+9.7%
Tolland County
+7.3%
Middlesex County
+5.3%

How many homes are available in New London County, CT?

Number of Homes For Sale

Sep 2022Oct 2022%
1,2421,109-10.7%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 3833
-13.2%
2 221185
-16.3%
3 519463
-10.8%
4 299267
-10.7%
5+ 165161
-2.4%

Number of Homes Sold

Sep 2022Oct 2022%
339288-15.0%

Asking Price vs. Sold Price

96 Homes Were Sold
Under Asking

55 Homes Were Sold
At Asking

137 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New London County, you could pay more than the asking price. 47.6% of homes here sold above asking price last month.

Average Sale Time

Oct 2021Oct 2022%
37 Days45 Days+21.6%

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in New London County has remained consistent over time.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About New London County, CT

Homes for sale in New London County, CT have reached 1,109. The inventory of homes for sale in New London County, CT between September 2022 and October 2022 decreased by 10.7%. The median list price of listings available in October 2022 was $298,694, while the average time on the real estate market was 45 days. Listing prices have changed in this real estate market between September 2022 and October 2022: 1 bedroom properties became 18.5% more expensive, the cost of 2 bedrooms properties went up by 13.9%, prices of 3 bedrooms properties went up by 10.8%, prices of 4 bedrooms properties increased by 7.3%, 5 bedrooms properties became 5.6% more cheaper. The following changes in the number of homes for sale were observed in this housing market: volume of 1 bedroom homes went down by 13.2%, the quantity of 2 bedrooms homes went down by 16.3%, 3 bedrooms homes became 10.8% less available, the quantity of 4 bedrooms homes went down by 10.7%, number of 5 bedrooms homes decreased by 2.4%. New London County, CT housing market in October 2022 saw over 137 listings sold above listed price, more than 55 sold at listed price and over 96 sold below.

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