Is Newport News, VA 23607 a buyer’s or seller’s market?

Balanced 3 months ending August 31, 2026 · Source: Redfin

Newport News is a balanced market. With about 4.4 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.

Competition score36/ 100

More competitive than 34% of U.S. ZIP codes, and #304 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 supply4.4Under 4 months = seller’s market

Sold above original list23.9%Share of sales, last 3 months

Median sale-to-list97.5%Sold price ÷ list price

Median days on market61Listing to accepted offer

Median price per sq ft$150▲ +6.7% vs. last year

The Newport News housing market right now

In the three months ending August 31, 2026, 24% of homes in Newport News, VA 23607 sold above their list price, the typical home went under contract in 61 days and there were 4.4 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 69 home sales.

Compared with the same period a year earlier, the share selling over asking was about the same (22% then), homes sold more slowly (40 days then) and the median sale price rose 17% to $214,907. Overall, Newport News is less competitive than a year ago, which gives buyers more room.

Within Newport News city, homes here sell more slowly, and less often over asking, than in any other ZIP code in the county. On our competition score, Newport News ranks #304 of 358 VA ZIP codes with enough sales (score 36 out of 100).

Nearby, Newport News 23605 (44% sold over asking) and Newport News 23606 (36% sold over asking) are even more competitive.

About the area

Newport News city, VA

Population	23,096
Median income	$42,334
Average income	$55,268
Median home value	$171,800
Median rent	$1,176/month
Owner-occupied	31% of homes
Median year built	1963

Natural hazard riskHurricanes (moderate), extreme 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 23607; hazard risk from the FEMA National Risk Index for the census tracts in this ZIP code (not endorsed by FEMA).

Run the numbers for 23607

Prefilled for 23607Can I win this house?Multiple-offer likelihood for a listing Prefilled for 23607Over-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 23605Seller’s market $216 /sq ft Browse all markets →

Towns like Newport News nearby

Find towns like Newport News in other states →

Norfolk, VA23523 · 14 miles away86% similarpricier homes ($53K more) · smaller Portsmouth, VA23704 · 12 miles away85% similarpricier homes ($59K more) Newport News, VA23605 · 2 miles away83% similarsmaller Portsmouth, VA23702 · 14 miles away81% similarpricier homes ($36K more) · smaller

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 balanced market: there were 4.4 months of supply in Newport News, VA 23607 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 61 days in the latest three months.

Do homes in Newport News sell over asking?

24% of homes sold above their original list price, and the typical sale closed at 97.5% 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 $214,907 in the three months ending August 31, 2026, about $150 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