Single-Family Homes
Thu Mar 28 2024
This week the median list price for Newport News, VA is $319,900 with the market action index hovering around 56. This is an increase over last month's market action index of 52. Inventory has decreased to 169.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Median List Price | $319,900 | |
Median Price of New Listings | $314,900 | |
Per Square Foot | $185 | |
Average Days on Market | 62 | |
Median Days on Market | 28 | |
Price Decreased | 34% | |
Price Increased | 6% | |
Relisted | 16% | |
Inventory | 169 | |
Median Rent | ||
Market Action | 56 | |
Strong Seller's Market |
The market appears to be hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.
Each segment below represents approximately 25% of the market ordered by price.
Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
---|---|---|---|---|---|---|---|---|
$504,450 | 2,862 | 0.25 - 0.5 acre | 4 | 3 | 23 | 5 | 7 | 56 |
$375,000 | 2,002 | 8,000 - 10,000 sqft | 4 | 2.5 | 62 | 10 | 14 | 28 |
$299,000 | 1,593 | 8,000 - 10,000 sqft | 3 | 2 | 60 | 11 | 14 | 21 |
$220,000 | 1,180 | 4,500 - 6,500 sqft | 3 | 1 | 74 | 11 | 10 | 14 |