Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 625 people, 242 houses or apartments, and a median cost of homes of $327,887, New London real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in New London, accounting for 95.94% of the town's housing units. Other types of housing that are prevalent in New London include mobile homes or trailers ( 4.06%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in New London. Owner-occupied housing accounts for 70.66% of New London's homes, and 71.22% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in New London built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in New London built between 1940-1969 ( 29.52%). A lesser amount of the housing stock also hails from before 1939 ( 23.99%). There's also some housing in New London built between 2000 and later ( 8.86%).
Vacant housing appears to be an issue in New London. Fully 10.70% of the housing stock is classified as vacant. Left unchecked, vacant New London homes and apartments can be a drag on the real estate market, holding New London real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
In the last 10 years, New London has experienced some of the highest home appreciation rates of any community in the nation. New London real estate appreciated 132.25% over the last ten years, which is an average annual home appreciation rate of 8.79%, putting New London in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, New London definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in New London that despite a nationwide downturn in the housing market, New London real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, New London appreciation rates continue to be some of the highest in America, at 12.24%, which is higher than appreciation rates in 94.17% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in New London. New London appreciation rates in the latest quarter were at 1.46%, which equates to an annual appreciation rate of 5.95%.
Relative to North Carolina, our data show that New London's latest annual appreciation rate is higher than 90% of the other cities and towns in North Carolina.
$327,887
for North carolina
for nation
242
$1,401 / per month