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Featured local agent — New Castle, VA
Sarah Mitchell
Compass Real Estate · New Castle, VA
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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New Castle, VA Housing Market
The typical home in New Castle, VA is worth $216,660, rose 5.0% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $228,000 (through May 2026). With 1.0 months of supply and homes going under contract in about 20 days, New Castle is a seller's market. At today's 7.03% 30-year fixed rate, 20% down on a $216,660 home is about $1,157/mo in principal and interest.
Key numbers for New Castle, VA
Typical home value
$216,660
+5.0% in 12 months
Zillow, August 2026
Median sale price
$228,000
Last published period
Redfin, through March 2026
Days on market
20
Fast-moving
Redfin, through March 2026
Active listings
1
1.0 months of supply
Redfin, through March 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Sale-to-list ratio
97.0%
Selling below asking
Redfin, through March 2026
Zillow figures are as of August 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is New Castle a buyer's or seller's market?
New Castle, VA is a seller's market, based on 1.0 months of supply and homes selling in about 20 days. Under 2 months of supply is a severe shortage: expect competition on almost anything priced correctly, and little room to negotiate below asking.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the New Castle housing market data show?
Every row below is Redfin's final published month for New Castle, VA. Redfin, through March 2026
| Metric | Value |
|---|---|
| Median sale price | $228,000 |
| Median list price | $689,000 |
| Median price per sq ft | $88/sq ft |
| Median days on market | 20 days |
| Active inventory | 1 listings |
| Months of supply | 1.0 months |
| Sale-to-list price ratio | 97.0% |
| Homes sold (that month) | 1 |
| New listings (that month) | 1 |
| Market condition | Seller's market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for New Castle is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in New Castle is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have New Castle home prices moved?
Across the 10 months we hold for New Castle, VA, the median sale price rose 250.8%, from $65,000 in September 2021 to $228,000. The live Zillow value series has rose 5.0% in the last 12 months, which is the more current read now that Redfin's series has stopped. For prices to fall meaningfully from here, supply would have to keep building past 1.0 months while the sale-to-list ratio slips below its current 97.0%. Watch those two together — they move before the median does.
Redfin, through March 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in New Castle?
Priced off the typical home value of $216,660 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $43,332 | $173,328 | $1,157/mo |
| 5% | $10,833 | $205,827 | $1,374/mo |
Zillow, August 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $1,157, that implies roughly $49,571 a year before you add taxes and insurance. We do not hold a Census income figure for New Castle, so we cannot compare that threshold to local earnings.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in New Castle in the next 12 months?
Tell us your timeline. We send the New Castle market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in New Castle?
Zillow does not publish a rent index (ZORI) for New Castle, VA, so we cannot compute a price-to-rent ratio here without borrowing a nearby market's rents and calling them local — which we will not do. The rent vs. buy calculator works with a rent figure you supply.
Is inventory rising or falling in New Castle?
Active listings in New Castle, VA went from 4 in September 2021 to 1 in March 2026, a -75.0% change. Falling inventory tightens competition. When supply drops while demand holds, sale-to-list ratios rise before the median sale price does.
| Month | Active listings | New listings |
|---|---|---|
| September 2021 | 4 | 2 |
| October 2021 | 3 | not published |
| November 2021 | 2 | not published |
| December 2021 | 1 | not published |
| July 2025 | 1 | 1 |
| August 2025 | 1 | not published |
| March 2026 | 1 | 1 |
Redfin, through March 2026
How does New Castle compare to Virginia and the U.S.?
New Castle homes sell for $228,000 — 54% below the Virginia median of $499,300. Against the national median of $410,700, New Castle runs 44% lower.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| New Castle, VA | $228,000 | not published | 20 days |
| Virginia statewide | $499,300 | +3.9% | 28 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through March 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in New Castle
What buyers should watch
- Months of supply, currently 1.0. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The gap between 5% and 20% down here is $217 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $216,660 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median New Castle listing goes under contract in 20 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 97.0% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- In the last published month New Castle added 1 new listings against 1 sales — more clearing than arriving, which is the better window to list.
- Your equity moved +5.0% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside New Castle varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in New Castle
There are currently 1 homes listed for sale in New Castle, Virginia. The median listing price is $689K.
Active listings
1
Homes on market
Median list price
$689K
Avg. days on market
20
Days until sale
New this week
1
Newly listed
How much do homes cost in New Castle by property type?
How the New Castle, VA market breaks down across single-family homes, condos and townhouses. Redfin, through March 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $228,000 | $88/sq ft | 1 | 20 days |
Who lives in New Castle?
American Community Survey estimates for New Castle. U.S. Census ACS, 2023
Population
124
Households
46
Median age
24.6 years
Owner-occupied
47.8%
Median home value
$283,300
Median gross rent
$820/mo
Mean commute
34.1 min
47.8% of occupied homes in New Castle are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market. The Census self-reported median home value is $283,300 against Zillow's $216,660 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions.
Which public schools serve New Castle?
2 schools tracked · 470 students
The largest public schools serving New Castle, VA by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Craig County High
Grades 6-12 · 261 students
McCleary Elementary
Grades PK-5 · 209 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near New Castle, VA?
Ordered by distance from New Castle, not by size. Compare New Castle side by side with any of them.
New Castle housing market FAQ
Is New Castle a buyer's or seller's market?
New Castle, VA is currently a seller's market. That read comes from 1.0 months of supply, homes going under contract in about 20 days, and sellers getting 97.0% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in New Castle?
The typical home in New Castle, VA is worth $216,660 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $228,000, about $88 per square foot.
Is New Castle cheaper than the rest of Virginia?
New Castle's median sale price of $228,000 is 54% lower than the Virginia statewide median of $499,300, and 44% below the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in New Castle?
Homes in New Castle, VA spent a median of 20 days on market before going under contract, versus 28 days statewide. Under three weeks means well-priced listings move before most buyers can schedule a second showing. (Redfin, through May 2026.)
What income do you need to buy a home in New Castle?
At the current 30-year fixed rate of 7.03%, 20% down on a $216,660 home is about $1,157 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $49,571 a year before taxes, insurance, HOA dues or mortgage insurance.
Are home prices rising in New Castle?
The typical home value in New Castle, VA rose 5.0% over the last 12 months, from $206,345 to $216,660 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in New Castle?
New Castle ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in New Castle?
That depends on your timeline, not on a headline. What the data says today: New Castle, VA is a seller's market with 1.0 months of supply, the 30-year fixed rate is 7.03%. Properties Incorporated publishes the data; it does not give financial advice.
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