Home prices in Newport News VA for May 2013

By
Real Estate Agent with Keller Williams Elite Peninsula

 

Home prices in Newport News VA for May 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 9 straight months where home prices have mostly stayed constant just over the last two 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. 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.

Keep in mind with the market changing some Sellers are no longer providing 3% closing costs. In some cases they are only offering 2% in closing cost.

 

Homes for sale in Newport News

Newport News Real Estate Report Summary

 

The median list price in May for single family homes in Newport News is $250,000. The list prices dropped by -6.5% from the previous month.

The price per square foot for listings in this area is $139.

The median sale price in March for single family homes is $390,500. The sale prices increased by 59.38%from the previous month.

The price per square foot for sales in this area is $155.

 

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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Rainmaker
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John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Rocky - Thank you for the very good information about home prices in Newport News, Virginia for May 2013.

May 23, 2013 05:54 AM #1
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Rocky Tkacz
Keller Williams Elite Peninsula - Newport News, VA

Thank you for your support I am working on posting monthly market reports for all 7 cites in hampton roads. So I am just warming up :)

May 24, 2013 12:05 AM #2
Rainmaker
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Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

Rocky? Where are you? Haven't seen you on ActiveRain for a couple years...

Nov 25, 2014 12:01 PM #3
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