New Port Richey, Florida Real Estate Blog

June 2010 market report and

Houses for sale in River Ridge, New Port Richey, Fl

Less than four months inventory, not too bad.  Actually pretty darn good for Home sales in Pasco County.  Some would attribute this to the fact that River Ridge is highly sought after with buyers, especially families.  River Ridge is the school district in New Port Richey that I have had the most requests.

Just like the whole market in our area 1/3 if homes are distressed in River Ridge, New Port Richey.  And yet despite that they are closing at a higher ratio than the greater area.  With one of the lowest inventory levels in Pasco County, based on months of inventory, I think this speaks volumes to the quality of owners in the community.

Average days on Market (DOM) for Homes For Sale in River Ridge is ~4 months.  Yet when priced right you will see that the average DOM for homes under contract is 2 months or less.  And the average days on market for Homes that sold in June 2010 in River Ridge New Port Richey was on the market for an average of 63 days.  So if your house is languishing on the market, among other issues, you might want to revisit the list price

View River Ridge, New Port Richey, Florida in a larger map

View River Ridge, New Port Richey, Florida in a larger map

New Port Richey, Florida Real Estate Annual Market Report 2009

Unlike most other reports I blog, these Statistics include ALL Residential Property Sales:

Single Family Homes, Townhomes, Condos & Mobile Homes.

Here are the numbers from 2008 for comparison to 2009 which are in the 2nd graphic.  First thing that jumps out at me is that the Average Sold Price to List Price (SP/LP) ratio was 93% in New Port Richey just like Hudson, Port Richey & West Pasco County as well.

Next thing that gets my attention was a Sale for $10.87/SqFt.  LOL.  That is some real bargain basement shopping.  Usually the land alone is worth more than that.  What  a steal.

Number of Sold listings is rather telling too.  Twice as many homes sold in New Port Richey than in either  Hudson & Port Richey &  New Port Richey accounts for ~1/3rd of homes sold in West Pasco County

Well compared to 2008, 2009 has doubled its Lowest Sold price, which is not hard to do when you go from $6,000 to $12,000.   But the lowest SP/SqFt is still under $11/SqFt.

IN 2009 we saw an increase  of ~16.6% increase in units Sold, as well as ~16% decline in the average List Price to $132,029, but more importantly the average Sold Price is down ~17% to $121,854.  Prices in New Port Richey Real Estate are looking very attractive.

Surprisingly though the Days On Market (DOM) increased by ~9% from 93 days to 101.  Overall, between the bargain basement Prices, Tax Credit & a growing sense that the economy is going to recover, are making for a more positive outlook going forward.

Hudson Florida Single Family Market Report Oct O9

Active listings nudged up 5 units for a whopping 1% increase in inventory (negligible)

Homes Under Contract decreased by 10%.  (rather sizable)

But the biggest change was Solds from 37 last month to 59, for an over 50% increase in closed sales for October.  But more importantly Year over year sales are up ~40% from Oct 08

The distressed market has remained constant for the most part.  The only significant change was for Active properties, there we have seen about a 15% increase year over year.  

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