Is Newport, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Newport has remained a Seller's Market.
Housing Prices in Newport, TN
How much do homes in Newport, TN cost?
Median Sold Price
$209,000
$142/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Newport was $209,000 in March 2024, up 4.5% from last year, and the median price per square foot was $142.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $200K | $137.5K | -31.3% |
2 Bedrooms | $145K | $162K | +11.7% |
3 Bedrooms | $235K | $214.9K | -8.6% |
4 Bedrooms | $261K | $265K | +1.5% |
5+ Bedrooms | $450K | $511.5K | +13.7% |
Summary: Newport housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 31.3%, 2 bedroom homes increased by 11.7%, 3 bedroom homes decreased by 8.6%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes increased by 13.7%.
Housing Supply in Newport, TN
How many homes are available in Newport, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
48 | 51 | +6.3% |
Summary: The Newport real estate market had 51 homes for sale in March 2024, a 6.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 3 | +200.0% |
2 Bedrooms | 11 | 11 | 0.0% |
3 Bedrooms | 26 | 27 | +3.8% |
4 Bedrooms | 7 | 7 | 0.0% |
5+ Bedrooms | 3 | 3 | 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 200%, 2 bedroom homes remained the same, 3 bedroom homes increased by 3.8%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
9 | 11 | +22.2% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Newport in March 2024, up by 22.2% month-over-month. Of the 11 sold homes, 45% were sold under asking, 27% were sold at asking, and 27% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
62 Days | 50 Days | -19.5% |
Summary: Homes in Newport had an average of 50 days on market in Mar 2024, down by 19.5% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 11 homes were sold in Newport; 45% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.