06320New London, CT Housing Market
$300,000median sale price
The 06320 zip code, located in New London, CT, is currently classified as a balanced market. The median sale price stands at $300,000. Homes in this area spend an average of 41 days on the market before going under contract. There are currently 25 active listings in the area, which influences how much negotiating power buyers and sellers have.
Understanding zip-code-level data is essential for making informed real estate decisions. City-wide averages can mask significant variation between neighborhoods, and the 06320 market may perform differently from surrounding areas depending on local school quality, proximity to employment centers, and housing stock characteristics. The metrics below are sourced from Redfin transaction data, Zillow home value estimates, and U.S. Census Bureau demographic statistics.
Homes sold
37
Last 12 weeks
Days on market
41
Average pace
Active listings
25
Sale-to-list
102.1%
Above asking
Market trends
Market analysis for 06320
The 06320 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a balanced market, homes are selling at approximately 102.1% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 06320 have remained relatively stable compared to last year. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 06320 stands at $303,942, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $1,622 per month. This gives a price-to-rent ratio of approximately 15.6, which sits in a moderate range where the buy-versus-rent decision depends heavily on individual financial circumstances and time horizon. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Community profile
Population
27,600
Median income
$56,237/yr
Median age
35.5 years
Owner-occupied
41.1%
College grads
26.8%
Avg commute
21.4 min
Living in 06320
Zip code 06320 is home to approximately 27,600 residents. The median household income is $56,237 per year, which shapes the types of homes and amenities available in the area. With a median age of 35.5 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 41.1% of housing units are owner-occupied, indicating a stable, ownership-oriented community where residents have a vested interest in maintaining property values and neighborhood quality.
About 26.8% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 21.4 minutes, which is close to the national average. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 06320.
Frequently asked questions about 06320
What is the median home price in 06320?
The current median sale price in 06320 is $300,000, based on recent Redfin transaction data. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 06320 a buyer's or seller's market?
The 06320 zip code is currently classified as a balanced market. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population and demographics of 06320?
Zip code 06320 has a population of approximately 27,600 residents. The median household income is $56,237 per year. About 41.1% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 06320?
Properties Incorporated provides comprehensive data for 06320 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 06320 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually. Visit our data sources page to learn more about our data methodology and update schedules.
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