Is Newington, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Newington has remained a Seller's Market.
Key Takeaway
Newington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Newington, VA
How much do homes in Newington, VA cost?
Median Sold Price
$576,200
$298/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Newington have sold for 5.4% more than they did a year ago.
Summary: The median home sold price in Newington was $576,200 in April 2024, up 5.4% from last year, and the median price per square foot was $298.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $467K | $507.5K | +8.7% |
| 3 Bedrooms | $527.5K | $540K | +2.4% |
| 4 Bedrooms | $710.5K | $747.5K | +5.2% |
| 5+ Bedrooms | $830K | $790.7K | -4.7% |
Summary: Newington housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes decreased by 4.7%.
Median Sold Price Compared To Nearby Neighborhoods
| Newington | $546.5K | $576.2K | +5.4% |
| Terra Grande | $815.5K | $742.5K | -9.0% |
Housing Supply in Newington, VA
How many homes are available in Newington, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 22 | 27 | +22.7% |
Summary: The Newington real estate market had 27 homes for sale in April 2024, a 22.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 2 | +100.0% |
| 3 Bedrooms | 9 | 13 | +44.4% |
| 4 Bedrooms | 9 | 8 | -11.1% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Newington housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 44.4%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 7 | -46.2% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Newington, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Newington in April 2024, down by 46.2% month-over-month. Of the 7 sold homes, 14% were sold under asking, 14% were sold at asking, and 71% were sold over asking.
Days on Market for Newington, VA
How long does it take to sell a home in Newington, VA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 6 Days | 5 Days | -19.2% |
Summary: Homes in Newington had an average of 5 days on market in Apr 2024, down by 19.2% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Newington are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 7 homes were sold in Newington; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
