Is Newport, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Newport was a Neutral Market.
Housing Prices in Newport, VA
How much do homes in Newport, VA cost?
Median Sold Price
$560,000
$109/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Summary: The median home sold price in Newport was $560,000 in March 2024, up 32.5% from last month, and the median price per square foot was $109.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $350K | - | N/A |
3 Bedrooms | - | - | N/A |
4 Bedrooms | $495K | $560K | +13.1% |
5+ Bedrooms | - | - | N/A |
Summary: Newport housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes increased by 13.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Newport | $422.5K | $560K | +32.5% |
Carrollton | $495K | $560K | +13.1% |
Smithfield | $521K | $571.4K | +9.7% |
Housing Supply in Newport, VA
How many homes are available in Newport, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
85 | 97 | +14.1% |
Summary: The Newport real estate market had 97 homes for sale in March 2024, a 14.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 13 | 13 | 0.0% |
3 Bedrooms | 28 | 30 | +7.1% |
4 Bedrooms | 25 | 33 | +32.0% |
5+ Bedrooms | 16 | 18 | +12.5% |
Summary: The Newport housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 32%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
13 | 10 | -23.1% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Newport in March 2024, down by 23.1% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Newport, VA
How long does it take to sell a home in Newport, VA?
Average Sale Time
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
41 Days | 68 Days | +65.6% |
Summary: Homes in Newport had an average of 68 days on market in Mar 2024, up by 65.6% compared to last month.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 10 homes were sold in Newport; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.