Newington First-Time Homebuyer Report for January

The population of Newington is very affluent compared to others in Virginia with a median income of $103,938 per household. It's also considered a very expensive city in terms of affordability with a cost of living adjustment score of 141.7. The three zip codes with the largest populations are 22153, 22150, and 22315. With a median age of 27 years, homes in Newington tend to be relatively old. The best school in the city is Newington Forest Elementary School.

Culture

According to Foursquare, Forge Brew Works is the most popular spot to grab a drink in Newington. If you'd like to grab some coffee, a popular spot is Starbucks. And then for shopping, you might enjoy Costco Wholesale, Giant, and Unleashed by Petco.

Price Range

The median value of homes in Newington is $347,200, making it one of the most valuable areas in Virginia. At the same time, the average list price of available homes is presently $564,788. In this week's report, the number of homes sold in the Newington market slid to 13 over the past 30 days, a decrease of 7.1% from last week's report.

Make sure you take a look at these eye-catching homes in Newington that generated the most views from potential buyers:

$419K   $316K   $950K  

Typical Dwelling

A three-bedroom townhouse valued around $385,377 is considered a typical dwelling in Newington. If a buyer was looking for a similar home, they would need good credit and a $77,075 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $1,978 and the property tax rate is $10.67 per $1,000 of taxable assessed value.

Get started right now by checking out Newington homes for sale or reviewing Newington real estate trends.


Data reported through 1/12/2017

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