Is New Kent County, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New Kent County is a seller's market

Buyer's
Market

Difference Since April 2023

At the same time last year, New Kent County was a Neutral 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

$410,357

$195/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$4,642(-1.1%)

Key Takeaway

Homes in New Kent County have sold for 1.1% less than they did a year ago.

Summary: The median home sold price in New Kent County was $410,357 in April 2024, down 1.1% from last year, and the median price per square foot was $195.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $300K$66K
-78.0%
2 $286.2K$238K
-16.9%
3 $349.6K$365.5K
+4.5%
4 $450K$487.2K
+8.3%
5+ $538.7K$590K
+9.5%

Summary: New Kent County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 78%, 2 bedroom homes decreased by 16.9%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 9.5%.

Median Sold Price Compared To Nearby Counties

Charles City County
+13.2%
King and Queen County
+10.7%
King William County
+4.8%
James City County
+4.4%
New Kent County
-1.1%

Housing Supply in New Kent County, VA

How many homes are available in New Kent County, VA?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
205204-0.5%

Summary: The New Kent County real estate market had 204 homes for sale in April 2024, a 0.5% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 107
-30.0%
3 8789
+2.3%
4 7472
-2.7%
5+ 3436
+5.9%

Summary: The New Kent County 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 30%, 3 bedroom homes increased by 2.3%, 4 bedroom homes decreased by 2.7%, and 5+ bedroom homes increased by 5.9%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
4447+6.8%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

15 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New Kent County, expect to pay close to the asking price. 42.9% of homes here sold near the asking price last month.

Summary: A total of 47 homes were sold or pending in New Kent County in April 2024, up by 6.8% month-over-month. Of the 35 sold homes, 20% were sold under asking, 43% were sold at asking, and 37% 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

Apr 2023Apr 2024CHANGE
19 Days42 Days+116.2%

Summary: Homes in New Kent County had an average of 42 days on market in Apr 2024, up by 116.2% compared to last year.

Breakdown of Home Sale Times

28 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in New Kent County are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 47 homes were sold in New Kent County; 60% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 2 Days Ago

Newest Listings in New Kent County, VA

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