According to an analysis of Realtor.com data, the average home in New London County cost $542,450 in July, down 1.4% from the previous month ($549,900).
Compared to July 2023, the median home list price increased 8.5% to $499,900.
The statistics in this article refer only to homes for sale in New London County, not homes that have sold. For information on your local real estate market and other useful community data, visit data.norwichbulletin.com.
The median home in New London County was 1,864 square feet and cost $295 per square foot. The price per square foot of homes for sale has increased 21.3% since July 2023.
Listings in New London County moved briskly, with a median stay on the market of 37 days compared to the national median of 50 days in July. The previous month, homes spent a median of 30 days on the market. There were approximately 302 homes newly listed on the market in July, an 18% increase from 256 new listings in July 2023.
Median home prices published by Realtor.com may exclude many or even most homes in a market. Price and volume refer only to single-family homes, condos or townhomes. They include existing homes but exclude most new construction and pending and contingent sales.
In Connecticut, median home prices were $552,225, down slightly from June. The median home for sale in Connecticut was 1,944 square feet, priced at $291 per square foot.
Across the United States, the median home price was $439,950, down slightly from the previous month. The average size of a home for sale in the U.S. was 1,869 square feet, and the price was $231 per square foot.
The median home listing price used in this report represents the average of all homes or apartments offered for sale during the specified time period. Experts say the median provides a more accurate picture of market trends than the average listing price, which would divide the sum of all listing prices by the number of homes sold. The average can be skewed by a particularly low or high price.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. Please leave feedback or corrections to this story here. This story was written by Ozge Terzioglu.
