Is Newport, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Newport was a Buyer's Market.
Housing Prices in Newport, TN
How much do homes in Newport, TN cost?
Median Sold Price
$210,000
$148/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Newport was $210,000 in May 2024, up 5% from last year, and the median price per square foot was $148.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $200K | $95.9K | -52.0% |
2 Bedrooms | $139K | $168K | +20.9% |
3 Bedrooms | $227K | $222K | -2.2% |
4 Bedrooms | $262K | $265K | +1.1% |
5+ Bedrooms | $205K | $837K | +308.3% |
Summary: Newport housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 52%, 2 bedroom homes increased by 20.9%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes increased by 308.3%.
Housing Supply in Newport, TN
How many homes are available in Newport, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
46 | 48 | +4.3% |
Summary: The Newport real estate market had 48 homes for sale in May 2024, a 4.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 6 | 5 | -16.7% |
3 Bedrooms | 26 | 25 | -3.8% |
4 Bedrooms | 9 | 12 | +33.3% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Newport housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
8 | 9 | +12.5% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Newport in May 2024, up by 12.5% month-over-month. Of the 9 sold homes, 67% were sold under asking, 22% were sold at asking, and 11% were sold over asking.
Days on Market for Newport, TN
How long does it take to sell a home in Newport, TN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
15 Days | 78 Days | +396.6% |
Summary: Homes in Newport had an average of 78 days on market in May 2024, up by 396.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 9 homes were sold in Newport; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.