Is New River, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, New River has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $570K | N/A |
2 Bedrooms | $420K | $649K | +54.5% |
3 Bedrooms | $625K | $600K | -4.0% |
4 Bedrooms | $685K | $625K | -8.8% |
5+ Bedrooms | $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 | $259.9K | $460K | +76.9% |
Deer Valley | $611.4K | $609.5K | -0.3% |
Cave Creek | $800.8K | $790K | -1.3% |
New River | $646.5K | $624K | -3.5% |
Black Canyon City | $357.5K | $345K | -3.5% |
Housing Supply in New River, AZ
How many homes are available in New River, AZ?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
48 | 51 | +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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 2 | 2 | 0.0% |
3 Bedrooms | 19 | 17 | -10.5% |
4 Bedrooms | 19 | 23 | +21.1% |
5+ Bedrooms | 6 | 8 | +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 2024 | Feb 2024 | CHANGE |
---|---|---|
10 | 11 | +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
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 2023 | Feb 2024 | CHANGE |
---|---|---|
84 Days | 85 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
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.