Is Newport News, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Newport News has remained a Seller's Market.
Housing Prices in Newport News, VA
How much do homes in Newport News, VA cost?
Median Sold Price
$284,950
$192/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Summary: The median home sold price in Newport News was $284,950 in March 2024, up 10.4% from last month, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $259K | $284.9K | +10.0% |
3 Bedrooms | $250.5K | $236.2K | -5.7% |
4 Bedrooms | $285K | $285K | 0.0% |
5+ Bedrooms | - | $787.5K | N/A |
Summary: Newport News 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 increased by 10%, 3 bedroom homes decreased by 5.7%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Newport News, VA
How many homes are available in Newport News, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
853 | 952 | +11.6% |
Summary: The Newport News real estate market had 952 homes for sale in March 2024, a 11.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 9 | 5 | -44.4% |
2 Bedrooms | 80 | 92 | +15.0% |
3 Bedrooms | 406 | 457 | +12.6% |
4 Bedrooms | 266 | 303 | +13.9% |
5+ Bedrooms | 92 | 95 | +3.3% |
Summary: The Newport News housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 44.4%, 2 bedroom homes increased by 15%, 3 bedroom homes increased by 12.6%, 4 bedroom homes increased by 13.9%, and 5+ bedroom homes increased by 3.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
182 | 166 | -8.8% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 166 homes were sold or pending in Newport News in March 2024, down by 8.8% month-over-month. Of the 10 sold homes, 50% were sold under asking, 10% were sold at asking, and 40% were sold over asking.
Days on Market for Newport News, VA
How long does it take to sell a home in Newport News, VA?
Average Sale Time
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
40 Days | 39 Days | -3.2% |
Summary: Homes in Newport News had an average of 39 days on market in Mar 2024, down by 3.2% compared to last month.
Breakdown of Home Sale Times
99 Homes Were Sold
Under 30 Days
52 Homes Were Sold
In 30 - 90 Days
15 Homes Were Sold
Over 90 Days
Summary: During March 2024, 166 homes were sold in Newport News; 60% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.