Is Newport, MI 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, Newport has remained a Seller's Market.
Housing Prices in Newport, MI
How much do homes in Newport, MI cost?
Median Sold Price
$257,000
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Newport was $257,000 in April 2024, down 6.5% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $117.4K | $155K | +32.0% |
3 Bedrooms | $253K | $257K | +1.6% |
4 Bedrooms | $332K | $299.9K | -9.7% |
5+ Bedrooms | $435K | $225K | -48.3% |
Summary: Newport 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 32%, 3 bedroom homes increased by 1.6%, 4 bedroom homes decreased by 9.7%, and 5+ bedroom homes decreased by 48.3%.
Median Sold Price Compared To Nearby Cities
Ash Township | $252.5K | $277K | +9.7% |
Frenchtown Township | $210.2K | $217.5K | +3.4% |
Berlin Charter Township | $287.5K | $280K | -2.6% |
Newport | $275K | $257K | -6.5% |
Housing Supply in Newport, MI
How many homes are available in Newport, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
42 | 45 | +7.1% |
Summary: The Newport real estate market had 45 homes for sale in April 2024, a 7.1% 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 | 1 | 0 | -100.0% |
3 Bedrooms | 29 | 34 | +17.2% |
4 Bedrooms | 11 | 10 | -9.1% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Newport 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 decreased by 100%, 3 bedroom homes increased by 17.2%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
4 | 12 | +200.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Newport in April 2024, up by 200.0% month-over-month. Of the 12 sold homes, 58% were sold under asking, 17% were sold at asking, and 25% were sold over asking.
Days on Market for Newport, MI
How long does it take to sell a home in Newport, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
68 Days | 40 Days | -40.0% |
Summary: Homes in Newport had an average of 40 days on market in Apr 2024, down by 40% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 12 homes were sold in Newport; 58% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.