Is Newport, WA 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 Seller's Market.
Key Takeaway
Newport is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Newport, WA
How much do homes in Newport, WA cost?
Median Sold Price
$448,660
$258/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Newport have sold for 28.2% more than they did a year ago.
Summary: The median home sold price in Newport was $448,660 in May 2024, up 28.2% from last year, and the median price per square foot was $258.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $150K | N/A |
| 2 Bedrooms | $302.5K | $475K | +57.0% |
| 3 Bedrooms | $318.3K | $535K | +68.1% |
| 4 Bedrooms | $384K | $442K | +15.1% |
| 5+ Bedrooms | $390K | $435.9K | +11.8% |
Summary: Newport housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 57%, 3 bedroom homes increased by 68.1%, 4 bedroom homes increased by 15.1%, and 5+ bedroom homes increased by 11.8%.
Housing Supply in Newport, WA
How many homes are available in Newport, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 41 | 49 | +19.5% |
Summary: The Newport real estate market had 49 homes for sale in May 2024, a 19.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 8 | 7 | -12.5% |
| 3 Bedrooms | 13 | 16 | +23.1% |
| 4 Bedrooms | 13 | 14 | +7.7% |
| 5+ Bedrooms | 3 | 7 | +133.3% |
Summary: The Newport housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes decreased by 12.5%, 3 bedroom homes increased by 23.1%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 133.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 8 | -27.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Newport, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Newport in May 2024, down by 27.3% month-over-month. Of the 8 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Newport, WA
How long does it take to sell a home in Newport, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 13 Days | 37 Days | +173.0% |
Summary: Homes in Newport had an average of 37 days on market in May 2024, up by 173% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Newport are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in Newport; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
Listings courtesy of Spokane Association of REALTORS® MLS as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.