Is New Kent County, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New Kent County is a neutral's market

Buyer's
Market

Difference Since August 2023

At the same time last year, New Kent County was a Seller's Market.

Key Takeaway

New Kent County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in New Kent County, VA

How much do homes in New Kent County, VA cost?

Median Sold Price

$423,166

$200/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

+$2,725(+0.6%)

Key Takeaway

Homes in New Kent County have sold for 0.6% more than they did a year ago.

Summary: The median home sold price in New Kent County was $423,166 in August 2024, up 0.6% from last year, and the median price per square foot was $200.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 -$66K
N/A
2 $249.9K$253.7K
+1.5%
3 $349.6K$359.9K
+2.9%
4 $458.9K$522.2K
+13.8%
5+ $549.1K$601.6K
+9.6%

Summary: New Kent County housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.5%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes increased by 9.6%.

Median Sold Price Compared To Nearby Counties

King and Queen County
+13.5%
James City County
+9.8%
King William County
+4.7%
New Kent County
+0.6%

Housing Supply in New Kent County, VA

How many homes are available in New Kent County, VA?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
184217+17.9%

Summary: The New Kent County real estate market had 217 homes for sale in August 2024, a 17.9% increase compared to July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 11
0.0%
2 610
+66.7%
3 93115
+23.7%
4 6467
+4.7%
5+ 2024
+20.0%

Summary: The New Kent County housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 23.7%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
3233+3.1%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New Kent County, you could pay more than the asking price. 46.4% of homes here sold above asking price last month.

Summary: A total of 33 homes were sold or pending in New Kent County in August 2024, up by 3.1% month-over-month. Of the 28 sold homes, 18% were sold under asking, 36% were sold at asking, and 46% were sold over asking.

Days on Market for New Kent County, VA

How long does it take to sell a home in New Kent County, VA?

Average Sale Time

Aug 2023Aug 2024CHANGE
26 Days33 Days+26.4%

Summary: Homes in New Kent County had an average of 33 days on market in Aug 2024, up by 26.4% compared to last year.

Breakdown of Home Sale Times

21 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in New Kent County are selling fast, if you're buying plan to act quickly.

Summary: During August 2024, 33 homes were sold in New Kent County; 64% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 6% 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 14 Days Ago

Newest Listings in New Kent County, VA

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