Is New London, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, New London was a Seller's Market.
Key Takeaway
New London is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in New London, NC
How much do homes in New London, NC cost?
Median Sold Price
$307,997
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in New London have sold for 4.9% less than they did a year ago.
Summary: The median home sold price in New London was $307,997 in April 2024, down 4.9% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $140.8K | $91K | -35.4% |
| 2 Bedrooms | $155.7K | $180.7K | +16.0% |
| 3 Bedrooms | $350K | $435K | +24.3% |
| 4 Bedrooms | $675K | $630K | -6.7% |
| 5+ Bedrooms | $1.0M | $783K | -26.3% |
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 35.4%, 2 bedroom homes increased by 16%, 3 bedroom homes increased by 24.3%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes decreased by 26.3%.
Median Sold Price Compared To Nearby Cities
| Harris Township | $291.2K | $294.3K | +1.1% |
| New London | $323.9K | $307.9K | -4.9% |
Housing Supply in New London, NC
How many homes are available in New London, NC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 96 | 102 | +6.3% |
Summary: The New London real estate market had 102 homes for sale in April 2024, a 6.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 21 | 21 | 0.0% |
| 2 Bedrooms | 27 | 30 | +11.1% |
| 3 Bedrooms | 33 | 37 | +12.1% |
| 4 Bedrooms | 12 | 10 | -16.7% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
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 increased by 11.1%, 3 bedroom homes increased by 12.1%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 16 | 14 | -12.5% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 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. 71.4% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in New London in April 2024, down by 12.5% month-over-month. Of the 14 sold homes, 71% were sold under asking, 14% were sold at asking, and 14% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 54 Days | 87 Days | +60.7% |
Summary: Homes in New London had an average of 87 days on market in Apr 2024, up by 60.7% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
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 April 2024, 14 homes were sold in New London; 36% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.
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