Is New Richmond, WI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, New Richmond was a Seller's Market.
Key Takeaway
New Richmond is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in New Richmond, WI
How much do homes in New Richmond, WI cost?
Median Sold Price
$361,633
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in New Richmond have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in New Richmond was $361,633 in May 2024, up 4.8% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $205K | $117K | -42.9% |
| 2 Bedrooms | $271K | $285K | +5.2% |
| 3 Bedrooms | $350K | $349.9K | 0% |
| 4 Bedrooms | $365K | $440K | +20.5% |
| 5+ Bedrooms | $423.7K | $410K | -3.2% |
Summary: New Richmond housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 42.9%, 2 bedroom homes increased by 5.2%, 3 bedroom homes did not change, 4 bedroom homes increased by 20.5%, and 5+ bedroom homes decreased by 3.2%.
Median Sold Price Compared To Nearby Cities
| Richmond | $400K | $440K | +10.0% |
| New Richmond | $345K | $361.6K | +4.8% |
Housing Supply in New Richmond, WI
How many homes are available in New Richmond, WI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 176 | 205 | +16.5% |
Summary: The New Richmond real estate market had 205 homes for sale in May 2024, a 16.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 4 | +100.0% |
| 2 Bedrooms | 33 | 44 | +33.3% |
| 3 Bedrooms | 80 | 82 | +2.5% |
| 4 Bedrooms | 46 | 55 | +19.6% |
| 5+ Bedrooms | 17 | 20 | +17.6% |
Summary: The New Richmond housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 2.5%, 4 bedroom homes increased by 19.6%, and 5+ bedroom homes increased by 17.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 34 | 31 | -8.8% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
8 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. 45.2% of homes here sold below asking price last month.
Summary: A total of 31 homes were sold or pending in New Richmond in May 2024, down by 8.8% month-over-month. Of the 31 sold homes, 45% were sold under asking, 29% were sold at asking, and 26% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 45 Days | 65 Days | +43.7% |
Summary: Homes in New Richmond had an average of 65 days on market in May 2024, up by 43.7% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in New Richmond are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 31 homes were sold in New Richmond; 29% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
