Is Newport, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Newport was a Seller's Market.
Housing Prices in Newport, TN
How much do homes in Newport, TN cost?
Median Sold Price
$209,000
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Newport was $209,000 in April 2024, up 4.5% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $200K | $137.5K | -31.3% |
2 Bedrooms | $142K | $166K | +16.9% |
3 Bedrooms | $230K | $220K | -4.3% |
4 Bedrooms | $262K | $265K | +1.1% |
5+ Bedrooms | $205K | $837K | +308.3% |
Summary: Newport housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 31.3%, 2 bedroom homes increased by 16.9%, 3 bedroom homes decreased by 4.3%, 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
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
48 | 42 | -12.5% |
Summary: The Newport real estate market had 42 homes for sale in April 2024, a 12.5% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 11 | 5 | -54.5% |
3 Bedrooms | 25 | 23 | -8.0% |
4 Bedrooms | 6 | 8 | +33.3% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Newport housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 54.5%, 3 bedroom homes decreased by 8%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
12 | 7 | -41.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Newport in April 2024, down by 41.7% month-over-month. Of the 7 sold homes, 71% were sold under asking, 0% were sold at asking, and 29% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
66 Days | 18 Days | -71.9% |
Summary: Homes in Newport had an average of 18 days on market in Apr 2024, down by 71.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 7 homes were sold in Newport; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.