Is New Kent County, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New Kent County is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, New Kent County has remained a Seller's Market.

Key Takeaway

New Kent County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in New Kent County, VA

How much do homes in New Kent County, VA cost?

Median Sold Price

$424,210

$203/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$14,223(+3.5%)

Key Takeaway

Homes in New Kent County have sold for 3.5% more than they did a year ago.

Summary: The median home sold price in New Kent County was $424,210 in October 2024, up 3.5% from last year, and the median price per square foot was $203.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$145.5K
N/A
2 $209.9K$247.5K
+17.9%
3 $350K$363.5K
+3.9%
4 $471.1K$522.7K
+11.0%
5+ $547K$601.6K
+10.0%

Summary: New Kent County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 17.9%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 11%, and 5+ bedroom homes increased by 10%.

Median Sold Price Compared To Nearby Counties

James City County
+9.9%
Charles City County
+9.2%
King William County
+5.3%
New Kent County
+3.5%
King and Queen County
+1.8%

Housing Supply in New Kent County, VA

How many homes are available in New Kent County, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
211233+10.4%

Summary: The New Kent County real estate market had 233 homes for sale in October 2024, a 10.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 12
+100.0%
2 139
-30.8%
3 111118
+6.3%
4 6678
+18.2%
5+ 2026
+30.0%

Summary: The New Kent County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 30.8%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 30%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2951+75.9%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New Kent County, you may be able to get a good deal. 42.5% of homes here sold below asking price last month.

Summary: A total of 51 homes were sold or pending in New Kent County in October 2024, up by 75.9% month-over-month. Of the 40 sold homes, 43% were sold under asking, 23% were sold at asking, and 35% were sold over asking.

Days on Market for New Kent County, VA

How long does it take to sell a home in New Kent County, VA?

Average Sale Time

Oct 2023Oct 2024CHANGE
21 Days49 Days+125.3%

Summary: Homes in New Kent County had an average of 49 days on market in Oct 2024, up by 125.3% compared to last year.

Breakdown of Home Sale Times

27 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in New Kent County are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 51 homes were sold in New Kent County; 53% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in New Kent County, VA

Nearby Markets to New Kent County, VA

What housing markets are near New Kent County, VA?