Is Newport, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Newport has remained a Seller's Market.
Key Takeaway
Newport is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Newport, NC
How much do homes in Newport, NC cost?
Median Sold Price
$352,490
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Newport have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in Newport was $352,490 in May 2024, up 8.5% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $85K | $126K | +48.2% |
| 2 Bedrooms | $185K | $255K | +37.8% |
| 3 Bedrooms | $285K | $346.7K | +21.7% |
| 4 Bedrooms | $470K | $555.7K | +18.2% |
| 5+ Bedrooms | $640K | $774.5K | +21.0% |
Summary: Newport housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 48.2%, 2 bedroom homes increased by 37.8%, 3 bedroom homes increased by 21.7%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 21%.
Median Sold Price Compared To Nearby Cities
| Newport Township | $320K | $352.4K | +10.2% |
| Newport | $324.9K | $352.4K | +8.5% |
| Morehead Township | $450.2K | $485K | +7.7% |
Housing Supply in Newport, NC
How many homes are available in Newport, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 99 | 107 | +8.1% |
Summary: The Newport real estate market had 107 homes for sale in May 2024, a 8.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 5 | 3 | -40.0% |
| 3 Bedrooms | 59 | 70 | +18.6% |
| 4 Bedrooms | 29 | 29 | 0.0% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Newport housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 40%, 3 bedroom homes increased by 18.6%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 24 | +41.2% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Newport, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in Newport in May 2024, up by 41.2% month-over-month. Of the 24 sold homes, 63% were sold under asking, 25% were sold at asking, and 13% were sold over asking.
Days on Market for Newport, NC
How long does it take to sell a home in Newport, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 39 Days | 24 Days | -38.9% |
Summary: Homes in Newport had an average of 24 days on market in May 2024, down by 38.9% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Newport are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 24 homes were sold in Newport; 75% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
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