Is Newport News, VA 23602 a buyer’s or seller’s market?
Newport News is a seller’s market. With about 1.9 months of supply and 32% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
More competitive than 75% of U.S. ZIP codes, and #109 of 358 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Newport News housing market right now
In the three months ending August 31, 2026, 32% of homes in Newport News, VA 23602 sold above their list price, the typical home went under contract in 26 days and there were 1.9 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 150 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 27%, homes sold about as fast and the median sale price rose 10% to $334,355. Overall, Newport News is more competitive than a year ago, so tougher for buyers.
Within Newport News city, homes here sell faster than in 67% of the county’s ZIP codes, and sell less often over asking than in 83%. On our competition score, Newport News ranks #109 of 358 VA ZIP codes with enough sales (score 71 out of 100).
Nearby, buyers who want less competition could look at Newport News 23607 (24% sold over asking), while Newport News 23605 (44% sold over asking) and Newport News 23606 (36% sold over asking) are even more competitive.
Run the numbers for 23602
Nearby markets
Newport News 23601Seller’s market $204 /sq ftNewport News 23603Seller’s market $189 /sq ftNewport News 23605Seller’s market $216 /sq ftNewport News 23606Seller’s market $205 /sq ft Browse all markets →Towns like Newport News nearby
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Questions about Newport News real estate
Is Newport News a buyer’s or seller’s market?
A seller’s market: there were 1.9 months of supply in Newport News, VA 23602 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Newport News?
The typical home went under contract in 26 days in the latest three months.
Do homes in Newport News sell over asking?
32% of homes sold above their original list price, and the typical sale closed at 99.5% of the list price.
What are property taxes in Newport News?
About 1.01% of a home’s value a year in Newport News city, or roughly $4,040 on a $400,000 home.
What is the median home price in Newport News?
The median sale price was $334,355 in the three months ending August 31, 2026, about $193 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology