Is New Port Richey, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New Port Richey is a seller's market

Buyer's
Market

Difference Since May 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

$295,328

$206/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$15,172(+5.4%)

Key Takeaway

Homes in New Port Richey have sold for 5.4% more than they did a year ago.

Summary: The median home sold price in New Port Richey was $295,328 in May 2024, up 5.4% from last year, and the median price per square foot was $206.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $112K$112K
0.0%
2 $215K$230K
+7.0%
3 $337.5K$330.3K
-2.1%
4 $465K$489K
+5.2%
5+ $551.9K$645.2K
+16.9%

Summary: New Port Richey housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 16.9%.

Median Sold Price Compared To Nearby Cities

New Port Richey
+5.4%
Port Richey
-3.3%

Housing Supply in New Port Richey, FL

How many homes are available in New Port Richey, FL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1,1551,175+1.7%

Summary: The New Port Richey real estate market had 1,175 homes for sale in May 2024, a 1.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 5761
+7.0%
2 498509
+2.2%
3 418426
+1.9%
4 140134
-4.3%
5+ 4245
+7.1%

Summary: The New Port Richey housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7%, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 1.9%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes increased by 7.1%.

Number of Homes Sold

Apr 2024May 2024CHANGE
208197-5.3%

Asking Price vs. Sold Price

128 Homes Were Sold
Under Asking

46 Homes Were Sold
At Asking

23 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New Port Richey, you may be able to get a good deal. 65% of homes here sold below asking price last month.

Summary: A total of 197 homes were sold or pending in New Port Richey in May 2024, down by 5.3% month-over-month. Of the 197 sold homes, 65% were sold under asking, 23% were sold at asking, and 12% 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

May 2023May 2024CHANGE
33 Days51 Days+50.5%

Summary: Homes in New Port Richey had an average of 51 days on market in May 2024, up by 50.5% compared to last year.

Breakdown of Home Sale Times

106 Homes Were Sold
Under 30 Days

57 Homes Were Sold
In 30 - 90 Days

34 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in New Port Richey are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 197 homes were sold in New Port Richey; 54% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 17% 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 23 Days Ago

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