$229,000
Land
Listing Office: Integrity Home Investments,LLC
Is New London, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, New London has remained a Buyer'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, MN
How much do homes in New London, MN cost?
Median Sold Price
$325,000
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$19,000(+6.2%)
Key Takeaway
Homes in New London have sold for 6.2% more than they did a year ago.
Summary: The median home sold price in New London was $325,000 in November 2024, up 6.2% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $50K | $379.9K | +659.8% |
| 2 Bedrooms | $195.5K | $295K | +50.9% |
| 3 Bedrooms | $261K | $325K | +24.5% |
| 4 Bedrooms | $395K | $374.7K | -5.1% |
| 5+ Bedrooms | $402.5K | $475K | +18.0% |
Summary: New London housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 659.8%, 2 bedroom homes increased by 50.9%, 3 bedroom homes increased by 24.5%, 4 bedroom homes decreased by 5.1%, and 5+ bedroom homes increased by 18%.
Median Sold Price Compared To Nearby Cities
| New London | $306K | $325K | +6.2% |
| New London Township | $359.5K | $374.7K | +4.2% |
Housing Supply in New London, MN
How many homes are available in New London, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 23 | 18 | -21.7% |
Summary: The New London real estate market had 18 homes for sale in November 2024, a 21.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 4 | -33.3% |
| 3 Bedrooms | 13 | 10 | -23.1% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The New London housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 23.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 2 | -75.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in New London, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in New London in November 2024, down by 75.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for New London, MN
How long does it take to sell a home in New London, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 23 Days | 39 Days | +69.6% |
Summary: Homes in New London had an average of 39 days on market in Nov 2024, up by 69.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in New London are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 2 homes were sold in New London; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
