Is New Port Richey, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, New Port Richey has remained a Seller's Market.
Key Takeaway
New Port Richey is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in New Port Richey, FL
How much do homes in New Port Richey, FL cost?
Median Sold Price
$293,855
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in New Port Richey have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in New Port Richey was $293,855 in March 2024, up 6.7% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $108K | $114K | +5.6% |
| 2 Bedrooms | $210K | $229.9K | +9.5% |
| 3 Bedrooms | $331.6K | $335K | +1.0% |
| 4 Bedrooms | $478.7K | $476.2K | -0.5% |
| 5+ Bedrooms | $548.9K | $652.4K | +18.9% |
Summary: New Port Richey housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.6%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 1%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes increased by 18.9%.
Median Sold Price Compared To Nearby Cities
| New Port Richey | $275.3K | $293.8K | +6.7% |
| Port Richey | $256.5K | $240K | -6.5% |
Housing Supply in New Port Richey, FL
How many homes are available in New Port Richey, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1,064 | 1,122 | +5.5% |
Summary: The New Port Richey real estate market had 1,122 homes for sale in March 2024, a 5.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 40 | 48 | +20.0% |
| 2 Bedrooms | 480 | 494 | +2.9% |
| 3 Bedrooms | 392 | 404 | +3.1% |
| 4 Bedrooms | 117 | 128 | +9.4% |
| 5+ Bedrooms | 35 | 48 | +37.1% |
Summary: The New Port Richey housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 2.9%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 37.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 170 | 199 | +17.1% |
Asking Price vs. Sold Price
121 Homes Were Sold
Under Asking
57 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Port Richey, you may be able to get a good deal. 60.8% of homes here sold below asking price last month.
Summary: A total of 199 homes were sold or pending in New Port Richey in March 2024, up by 17.1% month-over-month. Of the 199 sold homes, 61% were sold under asking, 29% were sold at asking, and 11% were sold over asking.
Days on Market for New Port Richey, FL
How long does it take to sell a home in New Port Richey, FL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 47 Days | 50 Days | +6.5% |
Summary: Homes in New Port Richey had an average of 50 days on market in Mar 2024, up by 6.5% compared to last year.
Breakdown of Home Sale Times
106 Homes Were Sold
Under 30 Days
51 Homes Were Sold
In 30 - 90 Days
42 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in New Port Richey are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 199 homes were sold in New Port Richey; 53% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
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