BOLD REALTY MARKET REPORT

Newport News, VA

Single-Family Homes

TOM MILAN 757-777-7577



Newport News, VA

Thu Jan 21 2021
This week the median list price for Newport News, VA is $230,000 with the market action index hovering around 49. This is about the same as last month's market action index of 49. Inventory has held steady at or around 248. Click here to stay informed with the Newport News market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Newport News, VA

Thu Jan 21 2021
This week the median list price for Newport News, VA is $230,000 with the market action index hovering around 49. This is about the same as last month's market action index of 49. Inventory has held steady at or around 248. Click here to stay informed with the Newport News market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Real-Time Market Profile

Never miss important changes in the Newport News market.
Median List Price $230,000
Per Square Foot $140
Days on Market 69
Price Decreased 21%
Price Increased 7%
Relisted 8%
Inventory 248
Median Rent $1,255
Most Expensive $1,395,000
Least Expensive $60,000
Market Action 49
Strong Seller's Market

The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$450,000 2,583 0.5 - 1 acre 4 3 32 14 7 108
$260,000 1,890 8,000 - 10,000 sqft 3 2 46 13 15 32
$205,750 1,430 8,000 - 10,000 sqft 3 2 55 14 12 68
$122,500 1,174 4,500 - 6,500 sqft 3 1 71 17 9 67