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
$304,950
$198/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Summary: The median home sold price in Newport News was $304,950 in May 2024, down 4.7% from last month, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | - | $272.2K | N/A |
3 Bedrooms | $279.9K | $299.9K | +7.1% |
4 Bedrooms | $430K | $310K | -27.9% |
5+ Bedrooms | $600K | $712.5K | +18.8% |
Summary: Newport News housing prices by bedroom type for May 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 7.1%, 4 bedroom homes decreased by 27.9%, and 5+ bedroom homes increased by 18.8%.
Median Sold Price Compared To Nearby Cities
Hampton | $284.9K | $300K | +5.3% |
Newport News | $320K | $304.9K | -4.7% |
Housing Supply in Newport News, VA
How many homes are available in Newport News, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
865 | 917 | +6.0% |
Summary: The Newport News real estate market had 917 homes for sale in May 2024, a 6.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 7 | +75.0% |
2 Bedrooms | 84 | 94 | +11.9% |
3 Bedrooms | 432 | 462 | +6.9% |
4 Bedrooms | 267 | 276 | +3.4% |
5+ Bedrooms | 78 | 78 | 0.0% |
Summary: The Newport News housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 75%, 2 bedroom homes increased by 11.9%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
231 | 201 | -13.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 201 homes were sold or pending in Newport News in May 2024, down by 13.0% month-over-month. Of the 14 sold homes, 21% were sold under asking, 43% were sold at asking, and 36% 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
Apr 2024 | May 2024 | CHANGE |
---|---|---|
28 Days | 26 Days | -7.6% |
Summary: Homes in Newport News had an average of 26 days on market in May 2024, down by 7.6% compared to last month.
Breakdown of Home Sale Times
134 Homes Were Sold
Under 30 Days
60 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During May 2024, 201 homes were sold in Newport News; 67% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.