Is Newport News, VA 23605 a buyer’s or seller’s market?

Seller’s market 3 months ending August 31, 2026 · Source: Redfin

Newport News is a seller’s market. With about 2.5 months of supply and 44% 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.

Competition score81/ 100

More competitive than 86% of U.S. ZIP codes, and #36 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

Months of supply2.5Under 4 months = seller’s market

Sold above original list43.6%Share of sales, last 3 months

Median sale-to-list101.1%Sold price ÷ list price

Median days on market20Listing to accepted offer

Median price per sq ft$216▲ +3.2% vs. last year

The Newport News housing market right now

In the three months ending August 31, 2026, 44% of homes in Newport News, VA 23605 sold above their list price, the typical home went under contract in 20 days and there were 2.5 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 40 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 31%, homes sold faster (30 days then) and the median sale price fell 2% to $249,892. Overall, Newport News is more competitive than a year ago, so tougher for buyers.

Within Newport News city, homes here sell faster, and more often over asking, than in any other ZIP code in the county. On our competition score, Newport News ranks #36 of 358 VA ZIP codes with enough sales (score 81 out of 100).

Nearby, buyers who want less competition could look at Newport News 23607 (24% sold over asking) or Newport News 23602 (32% sold over asking).

About the area

Newport News city, VA

Population	13,332
Median income	$53,815
Average income	$62,434
Median home value	$194,900
Median rent	$1,222/month
Owner-occupied	41% of homes
Median year built	1966

Natural hazard riskExtreme heat (moderate), winter storms (moderate)

Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates (household income; home value as estimated by owners), ZIP code tabulation area 23605; hazard risk from the FEMA National Risk Index for the census tracts in this ZIP code (not endorsed by FEMA).

Run the numbers for 23605

Prefilled for 23605Can I win this house?Multiple-offer likelihood for a listing Prefilled for 23605Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Newport News 23601Seller’s market $204 /sq ft Newport News 23602Seller’s market $193 /sq ft Newport News 23603Seller’s market $189 /sq ft Newport News 23606Seller’s market $205 /sq ft Browse all markets →

Towns like Newport News nearby

Find towns like Newport News in other states →

Portsmouth, VA23704 · 14 miles away92% similarpricier homes ($35K more) Portsmouth, VA23702 · 16 miles away89% similarVery close on income, prices and more Norfolk, VA23502 · 16 miles away89% similarpricier homes ($71K more) · larger Chesapeake, VA23324 · 17 miles away86% similarpricier homes ($57K more) · larger

Where Newport News is

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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 2.5 months of supply in Newport News, VA 23605 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 20 days in the latest three months.

Do homes in Newport News sell over asking?

44% of homes sold above their original list price, and the typical sale closed at 101.1% 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 $249,892 in the three months ending August 31, 2026, about $216 per square foot.

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Competition score Buyer leverage Negotiation room Compare with other ZIP codes True cost to buy Property taxes Closing costs Cash buyers Backup offer odds Home value Newport News (city) property taxes Newport News (city) loan limits Closing costs in Virginia Hottest ZIP codes in Virginia

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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology