Is Newcastle, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Newcastle has remained a Seller's Market.
Key Takeaway
Newcastle is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Newcastle, WA
How much do homes in Newcastle, WA cost?
Median Sold Price
$1,532,000
$546/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Newcastle have sold for 13.9% more than they did a year ago.
Summary: The median home sold price in Newcastle was $1,532,000 in May 2024, up 13.9% from last year, and the median price per square foot was $546.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $393.5K | $410K | +4.2% |
| 2 Bedrooms | $519.5K | $477.5K | -8.1% |
| 3 Bedrooms | $1.0M | $1.1M | +10.3% |
| 4 Bedrooms | $1.4M | $1.6M | +14.3% |
| 5+ Bedrooms | $1.8M | $2.0M | +10.5% |
Summary: Newcastle housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.2%, 2 bedroom homes decreased by 8.1%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 10.5%.
Median Sold Price Compared To Nearby Cities
| Newcastle | $1.3M | $1.5M | +13.9% |
| Seattle East | $1.0M | $1.2M | +12.2% |
| Bellevue | $1.3M | $1.4M | +10.8% |
| Renton | $674.9K | $740K | +9.6% |
Housing Supply in Newcastle, WA
How many homes are available in Newcastle, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 50 | 53 | +6.0% |
Summary: The Newcastle real estate market had 53 homes for sale in May 2024, a 6.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 9 | 10 | +11.1% |
| 4 Bedrooms | 17 | 19 | +11.8% |
| 5+ Bedrooms | 22 | 20 | -9.1% |
Summary: The Newcastle housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes decreased by 9.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 19 | 0.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Newcastle, you could pay more than the asking price. 47.4% of homes here sold above asking price last month.
Summary: A total of 19 homes were sold or pending in Newcastle in May 2024, the same as the previous month. Of the 19 sold homes, 26% were sold under asking, 26% were sold at asking, and 47% were sold over asking.
Days on Market for Newcastle, WA
How long does it take to sell a home in Newcastle, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 10 Days | 16 Days | +60.4% |
Summary: Homes in Newcastle had an average of 16 days on market in May 2024, up by 60.4% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Newcastle are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 19 homes were sold in Newcastle; 89% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.