Is Newport, OR a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Newport is a buyer's market

Buyer's
Market

Difference Since March 2023

At the same time last year, Newport was a Seller's Market.

Key Takeaway

Newport is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Newport, OR

How much do homes in Newport, OR cost?

Median Sold Price

$445,000

$332/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$20,000(-4.3%)

Key Takeaway

Homes in Newport have sold for 4.3% less than they did a year ago.

Summary: The median home sold price in Newport was $445,000 in March 2024, down 4.3% from last year, and the median price per square foot was $332.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $240K$345K
+43.8%
2 $399K$374.3K
-6.2%
3 $600K$486.4K
-18.9%
4 $449K$644.5K
+43.5%
5+ -$464.9K
N/A

Summary: Newport housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 43.8%, 2 bedroom homes decreased by 6.2%, 3 bedroom homes decreased by 18.9%, 4 bedroom homes increased by 43.5%, and 5+ bedroom homes did not change.

Housing Supply in Newport, OR

How many homes are available in Newport, OR?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
4751+8.5%

Summary: The Newport real estate market had 51 homes for sale in March 2024, a 8.5% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 68
+33.3%
2 1212
0.0%
3 2123
+9.5%
4 44
0.0%
5+ 44
0.0%

Summary: The Newport housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes remained the same, 3 bedroom homes increased by 9.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
15+400.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Newport, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Newport in March 2024, up by 400.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.

Days on Market for Newport, OR

How long does it take to sell a home in Newport, OR?

Average Sale Time

Mar 2023Mar 2024CHANGE
55 Days89 Days+61.0%

Summary: Homes in Newport had an average of 89 days on market in Mar 2024, up by 61% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Newport has remained consistent over time.

Summary: During March 2024, 5 homes were sold in Newport; 0% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

Newest Listings in Newport, OR

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