Is New London, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, New London has remained a Seller's Market.
Housing Prices in New London, MN
How much do homes in New London, MN cost?
Median Sold Price
$310,000
$144/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 $310,000 in April 2024, down 1.1% from last year, and the median price per square foot was $144.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $261.5K | $50K | -80.9% |
2 Bedrooms | $225.1K | $275K | +22.2% |
3 Bedrooms | $322.9K | $290.5K | -10.0% |
4 Bedrooms | $385K | $375K | -2.6% |
5+ Bedrooms | $386.5K | $468K | +21.1% |
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 80.9%, 2 bedroom homes increased by 22.2%, 3 bedroom homes decreased by 10%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes increased by 21.1%.
Median Sold Price Compared To Nearby Cities
New London | $313.4K | $310K | -1.1% |
New London Township | $367K | $337.5K | -8.0% |
Housing Supply in New London, MN
How many homes are available in New London, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
10 | 11 | +10.0% |
Summary: The New London real estate market had 11 homes for sale in April 2024, a 10.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 3 | 0.0% |
3 Bedrooms | 5 | 6 | +20.0% |
4 Bedrooms | 2 | 2 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
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 remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2 | 4 | +100.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in New London in April 2024, up by 100.0% month-over-month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for New London, MN
How long does it take to sell a home in New London, MN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
4 Days | 136 Days | +3306.3% |
Summary: Homes in New London had an average of 136 days on market in Apr 2024, up by 3306.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 4 homes were sold in New London; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.