Is Newport, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Newport was a Seller's Market.
Housing Prices in Newport, MI
How much do homes in Newport, MI cost?
Median Sold Price
$244,950
$157/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Newport was $244,950 in March 2024, down 12.5% from last year, and the median price per square foot was $157.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $142.4K | $119.7K | -15.9% |
3 Bedrooms | $255.5K | $257K | +0.6% |
4 Bedrooms | $333.7K | $297.5K | -10.9% |
5+ Bedrooms | $435K | $225K | -48.3% |
Summary: Newport housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 15.9%, 3 bedroom homes increased by 0.6%, 4 bedroom homes decreased by 10.9%, and 5+ bedroom homes decreased by 48.3%.
Median Sold Price Compared To Nearby Cities
Frenchtown Township | $212.1K | $217.4K | +2.5% |
Ash Township | $260K | $265K | +1.9% |
Berlin Charter Township | $285K | $280K | -1.8% |
Newport | $279.9K | $244.9K | -12.5% |
Housing Supply in Newport, MI
How many homes are available in Newport, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
32 | 43 | +34.4% |
Summary: The Newport real estate market had 43 homes for sale in March 2024, a 34.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 1 | 0.0% |
3 Bedrooms | 21 | 31 | +47.6% |
4 Bedrooms | 10 | 10 | 0.0% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Newport housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 47.6%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
3 | 4 | +33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Newport in March 2024, up by 33.3% month-over-month. Of the 4 sold homes, 25% were sold under asking, 75% were sold at asking, and 0% were sold over asking.
Days on Market for Newport, MI
How long does it take to sell a home in Newport, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
31 Days | 78 Days | +154.0% |
Summary: Homes in Newport had an average of 78 days on market in Mar 2024, up by 154% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 4 homes were sold in Newport; 0% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.