Newport News Real Estate Market Report - Newport News County, Virginia
Newport News, Virginia - Newport News County
| Market Commentary Provided by Teresa Cline Associate Bro Associate Bro Prices still affordable |
| Report Date | Fall 2009 |
CONNECT WITH A LOCAL PROFESSIONAL 
Teresa Cline Associate Bro Associate Bro
Liz Moore and Associates Realtor Newport News, Virginia 757-643-7967 teresacline@lizmoorehomes.com Agent Home Page  |
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| Nearest Metro Area | Newport News / Norfolk, VA | ||||
| Buyers’ or Sellers’ Market | More buyers than sellers | ||||
| Average Time on Market | 0-30 days | ||||
| Market Trend | Activity up from last year | ||||
| Housing Inventory | Very tight | ||||
| Average Home Price | $150,000 - View Graph Trend | ||||
| Best Selling Price Range | |||||
| Worst Selling Price Range | |||||
| Compared to Last Year | Up 10-15% | ||||
| Prices As % of Asking Price | More than 100% | ||||
| Multiple Offers? | Yes | ||||
| Greatest Activity | Move-up buyers | ||||
| Buyer Activity for the past 90 days in Newport News is | |||||
| Seller Activity for the past 90 days in Newport News is | |||||
| Is Financing Available For Qualified Buyers in Newport News? | |||||
| Existing Home Prices for the past 90 days are | |||||
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | |||||
| Housing Hot Spots | Area-wide | ||||
| Reason to Buy/Sell | Demand exceeding supply | ||||
| Average Sold Price | $150,000 - View Graph Trend | ||||
| National Real Estate Market | |||||
| Local Summary: Average home prices are far below the national average and are attracting more buyers than sellers, even though the market has experienced 10-15% appreciation in the past 12 months. Move-up buyers appear to be most active. National Summary: National Housing Market Recovery Near? Latest HouseHunt Random Survey Finds Encouraging Signs - First Time Buyers Taking Advantage of $8,000 Tax Credit Like the legendary phoenix which rose renewed from its ashes, the U.S. housing market appears to be on the verge of emerging from the worst real estate market in three years. Several encouraging signs are there. Click here for full article... |
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(NOTE: Because current market conditions can change rapidly in any given marketplace, please check with the exclusive HouseHunt, Inc., real estate agent for this territory before acting on this information.)
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