$2,613 Closing Credit*
$220,000
789 SqFt
1 Bed
•1 Full Bath
Geoff Hausmann, Listing Office: RE/MAX on the Bay
Is New London County, CT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, New London County has remained a Seller's Market.
Key Takeaway
New London County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in New London County, CT
How much do homes in New London County, CT cost?
Median Sold Price
$350,000
$217/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$34,953(+11.1%)
Key Takeaway
Homes in New London County have sold for 11.1% more than they did a year ago.
Summary: The median home sold price in New London County was $350,000 in October 2024, up 11.1% from last year, and the median price per square foot was $217.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150K | $175K | +16.7% |
| 2 Bedrooms | $220K | $249K | +13.2% |
| 3 Bedrooms | $325.1K | $360.3K | +10.8% |
| 4 Bedrooms | $419.9K | $449.1K | +7.0% |
| 5+ Bedrooms | $335K | $390K | +16.4% |
Summary: New London County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 13.2%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 16.4%.
Median Sold Price Compared To Nearby Counties
| Washington County | $542.3K | $609.4K | +12.4% |
| New London County | $315K | $350K | +11.1% |
| Middlesex County | $351.2K | $389.7K | +11.0% |
| Windham County | $300.4K | $330K | +9.8% |
| Tolland County | $329.2K | $355.3K | +8.0% |
Housing Supply in New London County, CT
How many homes are available in New London County, CT?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1,046 | 1,059 | +1.2% |
Summary: The New London County real estate market had 1,059 homes for sale in October 2024, a 1.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 39 | 40 | +2.6% |
| 2 Bedrooms | 213 | 199 | -6.6% |
| 3 Bedrooms | 451 | 464 | +2.9% |
| 4 Bedrooms | 234 | 248 | +6.0% |
| 5+ Bedrooms | 109 | 108 | -0.9% |
Summary: The New London County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 2.6%, 2 bedroom homes decreased by 6.6%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 6%, and 5+ bedroom homes decreased by 0.9%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 255 | 264 | +3.5% |
Asking Price vs. Sold Price
86 Homes Were Sold
Under Asking
50 Homes Were Sold
At Asking
128 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New London County, you could pay more than the asking price. 48.5% of homes here sold above asking price last month.
Summary: A total of 264 homes were sold or pending in New London County in October 2024, up by 3.5% month-over-month. Of the 264 sold homes, 33% were sold under asking, 19% were sold at asking, and 48% were sold over asking.
Days on Market for New London County, CT
How long does it take to sell a home in New London County, CT?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 94 Days | 23 Days | -75.5% |
Summary: Homes in New London County had an average of 23 days on market in Oct 2024, down by 75.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in New London County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 264 homes were sold in New London County; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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