$2,078 Closing Credit*
$175,000
1,151 SqFt
3 Beds
•1 Full Bath
Listing Office: INNOVATE Real Estate
Is Newport, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Newport was a Seller'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, TN
How much do homes in Newport, TN cost?
Median Sold Price
$240,000
$168/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$35,250(+17.2%)
Key Takeaway
Homes in Newport have sold for 17.2% more than they did a year ago.
Summary: The median home sold price in Newport was $240,000 in October 2024, up 17.2% from last year, and the median price per square foot was $168.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $137.5K | $170K | +23.6% |
| 2 Bedrooms | $142.5K | $179.9K | +26.2% |
| 3 Bedrooms | $227K | $249.9K | +10.1% |
| 4 Bedrooms | $287.5K | $345K | +20.0% |
| 5+ Bedrooms | $195K | $583.5K | +199.2% |
Summary: Newport housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.6%, 2 bedroom homes increased by 26.2%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 199.2%.
Housing Supply in Newport, TN
How many homes are available in Newport, TN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 60 | 49 | -18.3% |
Summary: The Newport real estate market had 49 homes for sale in October 2024, a 18.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 11 | 9 | -18.2% |
| 3 Bedrooms | 35 | 26 | -25.7% |
| 4 Bedrooms | 12 | 13 | +8.3% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Newport housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 18.2%, 3 bedroom homes decreased by 25.7%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 7 | -58.8% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Newport, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Newport in October 2024, down by 58.8% month-over-month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.
Days on Market for Newport, TN
How long does it take to sell a home in Newport, TN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 39 Days | 40 Days | +0.6% |
Summary: Homes in Newport had an average of 40 days on market in Oct 2024, up by 0.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 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 October 2024, 7 homes were sold in Newport; 57% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
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Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
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Copyright 2024 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS.