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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Port Richey is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Port Richey has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Port Richey, FL

How much do homes in Port Richey, FL cost?

Median Sold Price

$241,666

$192/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$8,333(-3.3%)

Key Takeaway

Homes in Port Richey have sold for 3.3% less than they did a year ago.

Summary: The median home sold price in Port Richey was $241,666 in May 2024, down 3.3% from last year, and the median price per square foot was $192.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $85.5K$60K
-29.8%
2 $230K$225K
-2.2%
3 $280K$275K
-1.8%
4 $330K$332.5K
+0.8%
5+ $420K$362.5K
-13.7%

Summary: Port Richey housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 29.8%, 2 bedroom homes decreased by 2.2%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes decreased by 13.7%.

Median Sold Price Compared To Nearby Cities

New Port Richey
+5.4%
Port Richey
-3.3%

Housing Supply in Port Richey, FL

How many homes are available in Port Richey, FL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
4704720.4%

Summary: The Port Richey real estate market had 472 homes for sale in May 2024, a 0.4% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 45
+25.0%
2 269270
0.4%
3 173174
+0.6%
4 2221
-4.5%
5+ 22
0.0%

Summary: The Port Richey housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 0.4%, 3 bedroom homes increased by 0.6%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
107102-4.7%

Asking Price vs. Sold Price

59 Homes Were Sold
Under Asking

25 Homes Were Sold
At Asking

18 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Port Richey, you may be able to get a good deal. 57.8% of homes here sold below asking price last month.

Summary: A total of 102 homes were sold or pending in Port Richey in May 2024, down by 4.7% month-over-month. Of the 102 sold homes, 58% were sold under asking, 25% were sold at asking, and 18% were sold over asking.

Days on Market for Port Richey, FL

How long does it take to sell a home in Port Richey, FL?

Average Sale Time

May 2023May 2024CHANGE
37 Days44 Days+19.7%

Summary: Homes in Port Richey had an average of 44 days on market in May 2024, up by 19.7% compared to last year.

Breakdown of Home Sale Times

54 Homes Were Sold
Under 30 Days

30 Homes Were Sold
In 30 - 90 Days

18 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 102 homes were sold in Port Richey; 53% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 18% 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

Newest Listings in Port Richey, FL

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