$4,986 Closing Credit*
$419,900
2,636 SqFt
4 Beds
•2 Full Baths, 1 Partial
Listing Office: Lakes Area Realty, Inc.
Is New London, MN 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 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, 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 October 2023
+$28,000(+9.4%)
Key Takeaway
Homes in New London have sold for 9.4% more than they did a year ago.
Summary: The median home sold price in New London was $325,000 in October 2024, up 9.4% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $155.7K | $379.9K | +143.9% |
| 2 Bedrooms | $195.5K | $272.5K | +39.4% |
| 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 October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 143.9%, 2 bedroom homes increased by 39.4%, 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 | $297K | $325K | +9.4% |
| New London Township | $359.5K | $377.3K | +5.0% |
Housing Supply in New London, MN
How many homes are available in New London, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 26 | 24 | -7.7% |
Summary: The New London real estate market had 24 homes for sale in October 2024, a 7.7% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 4 | 6 | +50.0% |
| 3 Bedrooms | 14 | 13 | -7.1% |
| 4 Bedrooms | 6 | 4 | -33.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The New London housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 6 | -14.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was 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. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in New London in October 2024, down by 14.3% month-over-month. Of the 6 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 61 Days | 38 Days | -37.4% |
Summary: Homes in New London had an average of 38 days on market in Oct 2024, down by 37.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in New London has remained consistent over time.
Summary: During October 2024, 6 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.
