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
With a population of 604, 229 total housing units (homes and apartments), and a median house value of $110,439, house prices in New London are solidly below the national average.
Single-family detached homes are the single most common housing type in New London, accounting for 89.53% of the town's housing units. Other types of housing that are prevalent in New London include mobile homes or trailers ( 8.91%).
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 78.17% of New London's homes, and 71.32% have either three or four bedrooms, which is average sized relative to America.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. New London's housing was primarily built during this period, from the '40s through the '60s. A full 41.86% of the town's housing hails from this era. Other housing ages represented in New London include homes built between 1970-1999 ( 38.76%) and housing constructed before 1939 ( 16.28%). There's also some housing in New London built between 2000 and later ( 3.10%).
Vacant housing appears to be an issue in New London. Fully 11.24% 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.
Real estate appreciation rates in New London's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.66% during the period.
NeighborhoodScout's data show that during the latest twelve months, New London's appreciation rate, at 3.17%, has been at or slightly above the national average. In the latest quarter, New London's appreciation rate has been -0.54%, which annualizes to a rate of -2.13%.
Notably, New London's appreciation rate in the latest quarter is one of the lowest in America.
Relative to North Carolina, our data show that New London's latest annual appreciation rate is higher than 50% of the other cities and towns in North Carolina.
|$783,001 - $1,045,000||0.6|
|$522,001 - $783,000||0.0|
|$417,001 - $522,000||2.2|
|$313,001 - $417,000||2.0|
|$209,001 - $313,000||12.1|
|$104,001 - $209,000||37.3|
|$52,001 - $104,000||29.9|
|$0 - $52,000||15.4|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF New London HOMES|
|2000 or Newer||3.1|
|1970 - 1999||38.8|
|1940 - 1969||41.9|
|1939 or Older||16.3|
|TYPE OF New London HOMES|
|Small Apt. Buildings||0.8|
|SIZE OF New London HOMES|
|5 or more bedrooms||0.78|