New London County's October First-Time Homebuyer Report

New London County is the third-youngest county in Connecticut, with a median age of 40. It's also the sixth- most affluent with a median income $61,882 per household. Its three largest cities are Norwich, New London, and Groton. Detached homes account for 87% of the area's current housing market. The top school in the county is Niantic Center School.

Culture

If you're looking to explore the landscape of New London County, then check out Mystic Seaport and Ocean Beach Park, Foursquare's most popular places for outdoor activities. You might also try Mohegan Sun Arena and Grand Theatre, a few popular destinations for entertainment. You could also try out the popular Bobby's Burger Palace, Michael Jordan's Steakhouse, and Frank Pepe Pizzeria Napoletana if you dine out.

Price Range

New London County has some of the more affordable homes in the state with a median home value of $207,100 and a current average list price of $257,627. Groton Long Point, Noank, and Stonington are the costliest places in the county. The New London County market slowed with a 2.0% sales drop in this week's report. However, overall sales numbers for the last 30 days remained above the monthly average (277.3) with 291 homes sold.

Out of all the listings in New London County, these have been viewed the most. So be sure to see what all the fuss is about with these fabulous homes.

$2.5M   $2.6M   $199K  

Typical Dwelling

A three-bedroom detached home valued around $252,292 is considered a typical dwelling in New London County. If a buyer was looking for a similar home, they would need good credit and a $50,458 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $1,119 and the property tax rate is $15.98 per $1,000 of taxable assessed value.

Get started right now by checking out New London County homes for sale or reviewing New London County real estate trends.


Data reported through 10/13/2016

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