Is New Kent County, VA 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, New Kent County has remained a Seller's Market.
Key Takeaway
New Kent County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in New Kent County, VA
How much do homes in New Kent County, VA cost?
Median Sold Price
$412,302
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in New Kent County has remained the same since last year.
Summary: The median home sold price in New Kent County was $412,302 in March 2024, up 0.5% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $300K | $66K | -78.0% |
| 2 Bedrooms | $286.2K | $223.9K | -21.8% |
| 3 Bedrooms | $350K | $366K | +4.6% |
| 4 Bedrooms | $450K | $475K | +5.6% |
| 5+ Bedrooms | $540K | $579.9K | +7.4% |
Summary: New Kent County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 78%, 2 bedroom homes decreased by 21.8%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 7.4%.
Median Sold Price Compared To Nearby Counties
| King and Queen County | $255K | $275.8K | +8.2% |
| Charles City County | $270K | $289.9K | +7.4% |
| King William County | $314.9K | $335.3K | +6.5% |
| James City County | $451.8K | $465K | +2.9% |
| New Kent County | $410.3K | $412.3K | 0.5% |
Housing Supply in New Kent County, VA
How many homes are available in New Kent County, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 203 | 221 | +8.9% |
Summary: The New Kent County real estate market had 221 homes for sale in March 2024, a 8.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 11 | 11 | 0.0% |
| 3 Bedrooms | 84 | 98 | +16.7% |
| 4 Bedrooms | 68 | 76 | +11.8% |
| 5+ Bedrooms | 39 | 36 | -7.7% |
Summary: The New Kent County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes decreased by 7.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 29 | 39 | +34.5% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Kent County, you may be able to get a good deal. 38.7% of homes here sold below asking price last month.
Summary: A total of 39 homes were sold or pending in New Kent County in March 2024, up by 34.5% month-over-month. Of the 31 sold homes, 39% were sold under asking, 26% were sold at asking, and 35% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 39 Days | 41 Days | +6.3% |
Summary: Homes in New Kent County had an average of 41 days on market in Mar 2024, up by 6.3% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in New Kent County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 39 homes were sold in New Kent County; 62% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
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