Is New Richmond, WI 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 Richmond has remained a Seller's Market.
Key Takeaway
New Richmond is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in New Richmond, WI
How much do homes in New Richmond, WI cost?
Median Sold Price
$355,000
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in New Richmond have sold for 4.4% more than they did a year ago.
Summary: The median home sold price in New Richmond was $355,000 in March 2024, up 4.4% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $205K | $140.9K | -31.2% |
| 2 Bedrooms | $271K | $289.9K | +7.0% |
| 3 Bedrooms | $350K | $340K | -2.9% |
| 4 Bedrooms | $369K | $425K | +15.2% |
| 5+ Bedrooms | $444.9K | $415K | -6.7% |
Summary: New Richmond housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 31.2%, 2 bedroom homes increased by 7%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes increased by 15.2%, and 5+ bedroom homes decreased by 6.7%.
Median Sold Price Compared To Nearby Cities
| Richmond | $400K | $434.6K | +8.6% |
| New Richmond | $340K | $355K | +4.4% |
Housing Supply in New Richmond, WI
How many homes are available in New Richmond, WI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 146 | 152 | +4.1% |
Summary: The New Richmond real estate market had 152 homes for sale in March 2024, a 4.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 31 | 31 | 0.0% |
| 3 Bedrooms | 67 | 70 | +4.5% |
| 4 Bedrooms | 35 | 36 | +2.9% |
| 5+ Bedrooms | 13 | 15 | +15.4% |
Summary: The New Richmond housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 15.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 37 | +105.6% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Richmond, you may be able to get a good deal. 45.9% of homes here sold below asking price last month.
Summary: A total of 37 homes were sold or pending in New Richmond in March 2024, up by 105.6% month-over-month. Of the 37 sold homes, 46% were sold under asking, 16% were sold at asking, and 38% were sold over asking.
Days on Market for New Richmond, WI
How long does it take to sell a home in New Richmond, WI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 74 Days | 66 Days | -10.3% |
Summary: Homes in New Richmond had an average of 66 days on market in Mar 2024, down by 10.3% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in New Richmond has remained consistent over time.
Summary: During March 2024, 37 homes were sold in New Richmond; 16% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
