Is New London, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, New London has remained a Neutral Market.
Key Takeaway
New London is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in New London, OH
How much do homes in New London, OH cost?
Median Sold Price
$178,750
$118/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in New London have sold for 28.1% more than they did a year ago.
Summary: The median home sold price in New London was $178,750 in April 2024, up 28.1% from last year, and the median price per square foot was $118.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $89.5K | N/A |
| 2 Bedrooms | $85K | $101.5K | +19.4% |
| 3 Bedrooms | $139.5K | $180K | +29.0% |
| 4 Bedrooms | $158K | $182.8K | +15.7% |
| 5+ Bedrooms | $149.5K | $243K | +62.5% |
Summary: New London housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 19.4%, 3 bedroom homes increased by 29%, 4 bedroom homes increased by 15.7%, and 5+ bedroom homes increased by 62.5%.
Median Sold Price Compared To Nearby Cities
| New London | $139.5K | $178.7K | +28.1% |
| New London Township | $146.7K | $178.7K | +21.8% |
Housing Supply in New London, OH
How many homes are available in New London, OH?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 11 | -15.4% |
Summary: The New London real estate market had 11 homes for sale in April 2024, a 15.4% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 7 | 7 | 0.0% |
| 4 Bedrooms | 5 | 3 | -40.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The New London housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
Asking Price vs. Sold Price
0 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 could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in New London in April 2024, down by 33.3% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for New London, OH
How long does it take to sell a home in New London, OH?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 152 Days | 30 Days | -79.9% |
Summary: Homes in New London had an average of 30 days on market in Apr 2024, down by 79.9% 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 April 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.
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This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are marked with the BR logo and detailed information about them includes the name of the listing brokers. Information Deemed Reliable But Not Guaranteed. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright © 2024 DABR MLS. All Rights Reserved