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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New London is a seller's market

Buyer's
Market

Difference Since May 2023

At the same time last year, New London was a Buyer'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 May 2023

+$37,500(+26.8%)

Key Takeaway

Homes in New London have sold for 26.8% more than they did a year ago.

Summary: The median home sold price in New London was $177,500 in May 2024, up 26.8% from last year, and the median price per square foot was $118.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$89.5K
N/A
2 $106K$101.5K
-4.2%
3 $133.5K$177.5K
+33.0%
4 $165.5K$230K
+39.0%
5+ $149.5K$243K
+62.5%

Summary: New London housing prices by bedroom type for May 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 33%, 4 bedroom homes increased by 39%, and 5+ bedroom homes increased by 62.5%.

Median Sold Price Compared To Nearby Cities

New London
+26.8%
New London Township
+19.9%

Housing Supply in New London, OH

How many homes are available in New London, OH?

Number of Homes For Sale

Apr 2024May 2024CHANGE
12120.0%

Summary: The New London real estate market had 12 homes for sale in May 2024, the same as April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 00
0.0%
3 810
+25.0%
4 31
-66.7%
5+ 11
0.0%

Summary: The New London housing inventory by bedroom type for May 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 25%, 4 bedroom homes decreased by 66.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
330.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New London, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 3 homes were sold or pending in New London in May 2024, the same as the previous month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% 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

May 2023May 2024CHANGE
57 Days30 Days-46.8%

Summary: Homes in New London had an average of 30 days on market in May 2024, down by 46.8% compared to last year.

Breakdown of Home Sale Times

1 Home Was 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 has remained consistent over time.

Summary: During May 2024, 3 homes were sold in New London; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% 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 18 Days Ago

Newest Listings in New London, OH

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