$1,663 Closing Credit*
$140,000
882 SqFt
2 Beds
•1 Full Bath
Listing Office: 1st Choice Properties Inc
Is New London, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$315,000
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$7,997(-2.5%)
Key Takeaway
Homes in New London have sold for 2.5% less than they did a year ago.
Summary: The median home sold price in New London was $315,000 in October 2024, down 2.5% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $91K | $130K | +42.9% |
| 2 Bedrooms | $145.7K | $194.2K | +33.3% |
| 3 Bedrooms | $475.3K | $385K | -19.0% |
| 4 Bedrooms | $770K | $685K | -11.0% |
| 5+ Bedrooms | $763K | $1.4M | +83.5% |
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 42.9%, 2 bedroom homes increased by 33.3%, 3 bedroom homes decreased by 19%, 4 bedroom homes decreased by 11%, and 5+ bedroom homes increased by 83.5%.
Median Sold Price Compared To Nearby Cities
| Harris Township | $285K | $295.6K | +3.7% |
| New London | $322.9K | $315K | -2.5% |
Housing Supply in New London, NC
How many homes are available in New London, NC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 93 | 107 | +15.1% |
Summary: The New London real estate market had 107 homes for sale in October 2024, a 15.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 14 | 19 | +35.7% |
| 2 Bedrooms | 30 | 33 | +10.0% |
| 3 Bedrooms | 27 | 31 | +14.8% |
| 4 Bedrooms | 18 | 22 | +22.2% |
| 5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The New London housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 35.7%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 14.8%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 11 | -21.4% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in New London, you may be able to get a good deal. 90.9% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in New London in October 2024, down by 21.4% month-over-month. Of the 11 sold homes, 91% were sold under asking, 0% were sold at asking, and 9% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 53 Days | 113 Days | +112.0% |
Summary: Homes in New London had an average of 113 days on market in Oct 2024, up by 112% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
5 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, 11 homes were sold in New London; 0% of homes were sold within 30 days, 55% of homes were sold within 30 to 90 days, and 45% of homes were sold over 90 days.
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