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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New London is a neutral's market

Buyer's
Market

Difference Since March 2023

At the same time last year, New London was a Seller's Market.

Key Takeaway

New London is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in New London, NC

How much do homes in New London, NC cost?

Median Sold Price

$301,000

$243/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$14,000(-4.4%)

Key Takeaway

Homes in New London have sold for 4.4% less than they did a year ago.

Summary: The median home sold price in New London was $301,000 in March 2024, down 4.4% from last year, and the median price per square foot was $243.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $135K$91K
-32.6%
2 $145.7K$168.2K
+15.4%
3 $329.9K$410K
+24.3%
4 $675K$612.5K
-9.3%
5+ $1.1M$783K
-28.8%

Summary: New London housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 32.6%, 2 bedroom homes increased by 15.4%, 3 bedroom homes increased by 24.3%, 4 bedroom homes decreased by 9.3%, and 5+ bedroom homes decreased by 28.8%.

Median Sold Price Compared To Nearby Cities

Harris Township
+3.4%
New London
-4.4%

Housing Supply in New London, NC

How many homes are available in New London, NC?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
85100+17.6%

Summary: The New London real estate market had 100 homes for sale in March 2024, a 17.6% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 1621
+31.3%
2 2829
+3.6%
3 2633
+26.9%
4 1214
+16.7%
5+ 33
0.0%

Summary: The New London housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 31.3%, 2 bedroom homes increased by 3.6%, 3 bedroom homes increased by 26.9%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1015+50.0%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New London, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in New London in March 2024, up by 50.0% month-over-month. Of the 15 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% 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

Mar 2023Mar 2024CHANGE
78 Days118 Days+51.1%

Summary: Homes in New London had an average of 118 days on market in Mar 2024, up by 51.1% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

9 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in New London are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During March 2024, 15 homes were sold in New London; 27% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 60% of homes were sold over 90 days.

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

Report Updated 19 Days Ago

Newest Listings in New London, NC

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