$4,036 Closing Credit*
$339,900
1,722 SqFt
3 Beds
•2 Full Baths
Brian Russell, Listing Office: Premiere Realty Group, LLC
Is Newport, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
At the same time last year, Newport was a Buyer's Market.
Key Takeaway
Newport is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Newport, MI
How much do homes in Newport, MI cost?
Median Sold Price
$305,000
$148/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$72,550(+31.2%)
Key Takeaway
Homes in Newport have sold for 31.2% more than they did a year ago.
Summary: The median home sold price in Newport was $305,000 in December 2024, up 31.2% from last year, and the median price per square foot was $148.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $84.5K | $150K | +77.5% |
| 3 Bedrooms | $250K | $240K | -4.0% |
| 4 Bedrooms | $300K | $347.4K | +15.8% |
| 5+ Bedrooms | $225K | $477.4K | +112.2% |
Summary: Newport housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 77.5%, 3 bedroom homes decreased by 4%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes increased by 112.2%.
Median Sold Price Compared To Nearby Cities
| Newport | $232.4K | $305K | +31.2% |
| Berlin Charter Township | $275K | $300K | +9.1% |
| Ash Township | $265K | $279.9K | +5.6% |
| Frenchtown Township | $210K | $212K | +1.0% |
Housing Supply in Newport, MI
How many homes are available in Newport, MI?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 63 | 64 | +1.6% |
Summary: The Newport real estate market had 64 homes for sale in December 2024, a 1.6% increase compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 33 | 35 | +6.1% |
| 4 Bedrooms | 26 | 25 | -3.8% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Newport housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 6.1%, 4 bedroom homes decreased by 3.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 11 | 10 | -9.1% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 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. 40% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Newport in December 2024, down by 9.1% month-over-month. Of the 10 sold homes, 40% were sold under asking, 30% were sold at asking, and 30% 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
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 32 Days | 57 Days | +76.3% |
Summary: Homes in Newport had an average of 57 days on market in Dec 2024, up by 76.3% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Newport are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 10 homes were sold in Newport; 50% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
