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
$347,500
$191/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Summary: The median home sold price in Newport News was $347,500 in April 2024, up 22% from last month, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $284.9K | - | N/A |
3 Bedrooms | $236.2K | $269.9K | +14.3% |
4 Bedrooms | $285K | $430K | +50.9% |
5+ Bedrooms | $787.5K | $600K | -23.8% |
Summary: Newport News housing prices by bedroom type for April 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 increased by 14.3%, 4 bedroom homes increased by 50.9%, and 5+ bedroom homes decreased by 23.8%.
Housing Supply in Newport News, VA
How many homes are available in Newport News, VA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
854 | 923 | +8.1% |
Summary: The Newport News real estate market had 923 homes for sale in April 2024, a 8.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 5 | 0.0% |
2 Bedrooms | 84 | 87 | +3.6% |
3 Bedrooms | 415 | 459 | +10.6% |
4 Bedrooms | 267 | 288 | +7.9% |
5+ Bedrooms | 83 | 84 | +1.2% |
Summary: The Newport News 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 3.6%, 3 bedroom homes increased by 10.6%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 1.2%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
191 | 204 | +6.8% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
6 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 204 homes were sold or pending in Newport News in April 2024, up by 6.8% month-over-month. Of the 8 sold homes, 13% were sold under asking, 75% were sold at asking, and 13% 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
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
37 Days | 27 Days | -28.2% |
Summary: Homes in Newport News had an average of 27 days on market in Apr 2024, down by 28.2% compared to last month.
Breakdown of Home Sale Times
141 Homes Were Sold
Under 30 Days
59 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 204 homes were sold in Newport News; 69% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.