Is New London, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, New London was a Seller's Market.
Housing Prices in New London, NC
How much do homes in New London, NC cost?
Median Sold Price
$335,100
$238/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in New London was $335,100 in May 2024, up 4.7% from last year, and the median price per square foot was $238.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $139K | $105K | -24.5% |
2 Bedrooms | $155.7K | $180.7K | +16.0% |
3 Bedrooms | $359.9K | $455K | +26.4% |
4 Bedrooms | $675K | $710K | +5.2% |
5+ Bedrooms | $1.0M | $915K | -10.5% |
Summary: New London housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 24.5%, 2 bedroom homes increased by 16%, 3 bedroom homes increased by 26.4%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes decreased by 10.5%.
Housing Supply in New London, NC
How many homes are available in New London, NC?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
101 | 122 | +20.8% |
Summary: The New London real estate market had 122 homes for sale in May 2024, a 20.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 20 | 23 | +15.0% |
2 Bedrooms | 31 | 38 | +22.6% |
3 Bedrooms | 34 | 34 | 0.0% |
4 Bedrooms | 12 | 21 | +75.0% |
5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The New London housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 15%, 2 bedroom homes increased by 22.6%, 3 bedroom homes remained the same, 4 bedroom homes increased by 75%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
14 | 16 | +14.3% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in New London in May 2024, up by 14.3% month-over-month. Of the 16 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
40 Days | 77 Days | +91.5% |
Summary: Homes in New London had an average of 77 days on market in May 2024, up by 91.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During May 2024, 16 homes were sold in New London; 50% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.