Is New London, OH 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, OH
How much do homes in New London, OH cost?
Median Sold Price
$177,500
$118/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in New London have sold for 27.2% more than they did a year ago.
Summary: The median home sold price in New London was $177,500 in March 2024, up 27.2% from last year, and the median price per square foot was $118.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $89.5K | N/A |
| 2 Bedrooms | $106K | $101.5K | -4.2% |
| 3 Bedrooms | $146.5K | $177.5K | +21.2% |
| 4 Bedrooms | $157K | $230K | +46.5% |
| 5+ Bedrooms | $182.5K | $243K | +33.2% |
Summary: New London housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 4.2%, 3 bedroom homes increased by 21.2%, 4 bedroom homes increased by 46.5%, and 5+ bedroom homes increased by 33.2%.
Median Sold Price Compared To Nearby Cities
| New London | $139.5K | $177.5K | +27.2% |
| New London Township | $156K | $177.5K | +13.8% |
Housing Supply in New London, OH
How many homes are available in New London, OH?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 12 | +50.0% |
Summary: The New London real estate market had 12 homes for sale in March 2024, a 50.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 4 | 6 | +50.0% |
| 4 Bedrooms | 3 | 5 | +66.7% |
| 5+ Bedrooms | 1 | 1 | 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 remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New London, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in New London in March 2024, up by 200.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for New London, OH
How long does it take to sell a home in New London, OH?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 83 Days | 63 Days | -23.8% |
Summary: Homes in New London had an average of 63 days on market in Mar 2024, down by 23.8% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in New London has remained consistent over time.
Summary: During March 2024, 3 homes were sold in New London; 0% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are marked with the BR logo and detailed information about them includes the name of the listing brokers. Information Deemed Reliable But Not Guaranteed. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright © 2024 DABR MLS. All Rights Reserved