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.
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
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
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
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.