$6,175 Closing Credit*
$520,000
1,592 SqFt
3 Beds
•2 Baths
#6650157, Dan Payne, Listing Office: Coldwell Banker Realty
Is New Richmond, WI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 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
$373,766
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$22,433(+6.4%)
Key Takeaway
Homes in New Richmond have sold for 6.4% more than they did a year ago.
Summary: The median home sold price in New Richmond was $373,766 in December 2024, up 6.4% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $164.9K | $252K | +52.8% |
| 2 Bedrooms | $289.9K | $285K | -1.7% |
| 3 Bedrooms | $348K | $365K | +4.9% |
| 4 Bedrooms | $397.5K | $429K | +7.9% |
| 5+ Bedrooms | $408.7K | $515K | +26.0% |
Summary: New Richmond housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 52.8%, 2 bedroom homes decreased by 1.7%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 26%.
Median Sold Price Compared To Nearby Cities
| New Richmond | $351.3K | $373.7K | +6.4% |
| Richmond | $412K | $435K | +5.6% |
Housing Supply in New Richmond, WI
How many homes are available in New Richmond, WI?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 220 | 197 | -10.5% |
Summary: The New Richmond real estate market had 197 homes for sale in December 2024, a 10.5% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 31 | 35 | +12.9% |
| 3 Bedrooms | 91 | 71 | -22.0% |
| 4 Bedrooms | 81 | 68 | -16.0% |
| 5+ Bedrooms | 17 | 23 | +35.3% |
Summary: The New Richmond housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12.9%, 3 bedroom homes decreased by 22%, 4 bedroom homes decreased by 16%, and 5+ bedroom homes increased by 35.3%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 51 | 38 | -25.5% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Richmond, you could pay more than the asking price. 36.8% of homes here sold above asking price last month.
Summary: A total of 38 homes were sold or pending in New Richmond in December 2024, down by 25.5% month-over-month. Of the 38 sold homes, 32% were sold under asking, 32% were sold at asking, and 37% 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
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 36 Days | 50 Days | +41.3% |
Summary: Homes in New Richmond had an average of 50 days on market in Dec 2024, up by 41.3% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in New Richmond has remained consistent over time.
Summary: During December 2024, 38 homes were sold in New Richmond; 18% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
