Home prices in Newport News VA for December 2013

By
Real Estate Agent with Keller Williams Elite Peninsula

 

Home prices in Newport News VA for December 2013  

Real estate market data for Newport News, VA provided by Rocky Tkacz of Rose and Womble Realty

 

Newport News Home Prices

We have seen 8 straight months where home prices have mostly stayed constant just over the last three months you can see the sold home prices in Newport News are coming in over and above asking price which means we are now in a sellers market. If your are considering buying a home a home yon can still find deals on a house in Newport News but having a good real estate agent who understands the market is a must. Don't wait on the sidelines for too long, many of the listings are selling in matter of days with in being listed if they are priced right. Right now we are having in inventory shortage what does that mean to you?

    Look at the graph below and you will see that people are paying more then the asking price which really means they are trying to out bid another buyer (Just over the last month alone look at the increase in sale price of $40,000). The buyers I work with go into the market knowing that when they find a home the love they have to be ready to make an offer right away before they lose out to another buyer or investor. To make sure you are not going to pay to much you want an agent who will do a market analysis of the home you are making an offer on.

Home prices for Newport News December

Homes for sale in Newport NewsNewport News Real Estate Report Summary 

The median list price in November for single family homes in Newport News is $240,000. The list pricesdropped by -1.74%  from the previous month.

The price per square foot for listings in this area is $120.

 

The median sale price in July for single family homes is $186,250. The sale prices increased by 6.42% from the previous month.

 

The price per square foot for sales in this area is $110.

 

Find Homes for Sale in Newport News VA


Visit my website to search for homes in Newport News or to be notified when Newport News homes come on the market.


To find out what your home is worth in the current market email me or call 757-968-2938

 

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Comments (2)

Gary Frimann, CRS, GRI
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
REALTOR and Broker

Rocky, thanks for the market report.  One of the best aspects of AR is checking out how other markets across the US are doing.

Jan 12, 2013 01:41 AM
Rocky Tkacz
Keller Williams Elite Peninsula - Newport News, VA

I was suprised to see that homes are selling over the listing price by so much. I knew that it was happening but now that I do my monthly report I really have a better understanding of my local numbers.

Jan 12, 2013 02:25 AM