The housing market in New London, CT is thriving. The median value of a house in the area is $245,100, which is significantly lower than the US House Median Value of $338,100. Furthermore, the 1 year House Appreciation for New London is 11.43%, significantly higher than the US 1 year House Appreciation of 8.27%. This indicates that the housing market in New London is healthy and growing. With its lower median value and rapidly increasing appreciation rate, it's no surprise that many people are looking to purchase a home in New London.
The median home cost in New London is $245,100. Home appreciation the last 10 years has been 58.4%. Home Appreciation in New London is up 13.4%.
Average Age of Homes
- The median age of New London real estate is 78 years old
The Rental Market in New London
- Renters make up 56.2% of the New London population
- 1.9% of houses and apartments in New London, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.