Welcome to March's Market Update. Lets take a look at residential real-estate activity in your area during the month of February. The number of active listings was down 4% from one year earlier, and down 4% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just under 180-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 4%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just over 210-thousand dollars. The number of units sold was consistent year-over-year, and increased 50% month-over-month. These latest figures could indicate that more buyers have been finding what they're looking for. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
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Map Information for Newport, TN
Area Information for Newport, TN
Population:7,461
Median Age:41.04 yr
Median Commute Time:22 mins
Educational Climate*:3
Sales Tax:0%
Population Density:1,384/sq mi
Population Change Since 2000:5.24%
Closest Airport:Mcghee Tyson
Closest College:Carson-newman College
Closest Jr. College:Walters State Community College
Median Household Income:$22,588
Annual Residential Turnover:0%
Median Home Sales Price:$112,500
Closest Major Sports Team:Tennessee Smokies (aa)
Change Avg. Household Income Since 2000:23.77%
* Scale from 1-5 ** Index where 100 is the national average
Demographic Data for Newport, TN
Median Age: 41.04Married: 34%Number of Households: 3,265Households with Children: 787
Community:
Occupancy Types
3599Vacant
8822Owned
12512Rented
Transportation to Work
43%Drive
47%Public Transportation
8%Walk / Bike / Other
8%Work at Home
National Index Comparisons:
(100 National Average)
Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area.