Horse Barn - New Port Richey FL Real Estate - 3 Homes For Sale | Zillow (2024)

FAQs

Is New Port Richey a good place to invest in real estate? ›

New Port Richey, FL Housing Market. The New Port Richey housing market is somewhat competitive. Homes in New Port Richey receive 1 offers on average. The median sale price of a home in New Port Richey was $265K last month, down 5.5% since last year.

Florida Housing Market Overview

In July 2024, home prices in Florida were up 1.2% compared to last year, selling for a median price. On average, the number of homes sold was up 2.9% year over year and there were 33,056 homes sold in July this year, up 32,112 homes sold in July last year.

According to data provided by property listing sites and national surveys, Florida's net migration rate, the fastest growing cities in Florida include Cape Coral-Fort Myers, Winwood-The Villages, Lakeland-Winter haven, Punta Gorda.

People without capital. While there are ways around cash on hand when you're looking for money for a down payment, including a HELOC loan or down payment assistance, investing in real estate without capital is not the best idea. It can put individuals in a precarious financial situation if anything were to go wrong.

Redfin data shows 30.7% of Florida sellers made a price drop in June 2024, up 4.5 points from last year. Home sales fell by 14.1% in June, with just under 33,000 homes closed compared to 38,387 last year.

April, May, and June are the best months to sell a home in Florida. In June 2023, the median sale price was $409,600, and it's expected to increase in 2024. However, cities like Doral and Palm Breach Gardens follow an upward trend throughout the year.

Is it a Good Time to Buy or Sell in Florida? The Florida real estate market continues to appreciate; therefore, even with higher mortgage rates, buying now could prove to be a worthwhile investment. The median sale price is predicted to continue rising between the strong demand and low inventory.

New Port Richey is currently growing at a rate of 1.76% annually and its population has increased by 7.44% since the most recent census, which recorded a population of 16,772 in 2020. The average household income in New Port Richey is $58,136 with a poverty rate of 13.34%.

Living in New Port Richey offers residents a dense suburban feel and most residents own their homes. Many retirees live in New Port Richey and residents tend to lean conservative. The public schools in New Port Richey are above average.

The cost of living in New Port Richey is 98.6% of the national average.

Is it a good time to invest in Florida real estate? ›

State of Florida Real Estate

This period in the post-pandemic economy may be the best time for real estate investing in Florida. From 2020 to 2021, the Florida real estate market was booming until it started slowing down in 2022. The data indicates a 29.9% decrease in home sales and a 21.7% decline in home listings.