Is New River, AZ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New River is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, New River has remained a Seller's Market.

Key Takeaway

New River is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in New River, AZ

How much do homes in New River, AZ cost?

Median Sold Price

$624,000

$275/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$22,500(-3.5%)

Key Takeaway

Homes in New River have sold for 3.5% less than they did a year ago.

Summary: The median home sold price in New River was $624,000 in February 2024, down 3.5% from last year, and the median price per square foot was $275.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 -$570K
N/A
2 $420K$649K
+54.5%
3 $625K$600K
-4.0%
4 $685K$625K
-8.8%
5+ $655K$729.9K
+11.4%

Summary: New River housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 54.5%, 3 bedroom homes decreased by 4%, 4 bedroom homes decreased by 8.8%, and 5+ bedroom homes increased by 11.4%.

Median Sold Price Compared To Nearby Cities

Morristown
+76.9%
Deer Valley
-0.3%
Cave Creek
-1.3%
New River
-3.5%
Black Canyon City
-3.5%

Housing Supply in New River, AZ

How many homes are available in New River, AZ?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
4851+6.3%

Summary: The New River real estate market had 51 homes for sale in February 2024, a 6.3% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 21
-50.0%
2 22
0.0%
3 1917
-10.5%
4 1923
+21.1%
5+ 68
+33.3%

Summary: The New River housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 10.5%, 4 bedroom homes increased by 21.1%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1011+10.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New River, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in New River in February 2024, up by 10.0% month-over-month. Of the 11 sold homes, 45% were sold under asking, 36% were sold at asking, and 18% were sold over asking.

Days on Market for New River, AZ

How long does it take to sell a home in New River, AZ?

Average Sale Time

Feb 2023Feb 2024CHANGE
84 Days85 Days+1.3%

Summary: Homes in New River had an average of 85 days on market in Feb 2024, up by 1.3% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in New River has remained consistent over time.

Summary: During February 2024, 11 homes were sold in New River; 27% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 36% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 18 Days Ago

Newest Listings in New River, AZ

Nearby Markets to New River, AZ

What housing markets are near New River, AZ?