Homes for sale · New Port Richey, FloridaColony Cove
Affordable Pasco living with an easy Tampa reach
2
Homes for sale
$121,950
Median list price
$120
Avg price / sqft
7
Median days on market
Colony Cove is a small, budget-friendly pocket of New Port Richey, the kind of place where compact homes and a predictable HOA make ownership feel attainable rather than aspirational. It sits in Pasco County within easy reach of the wider New Port Richey homes for sale market, and buyers here tend to be first-timers, downsizers, or investors drawn to the low price of entry. If you're comparing it to nearby options like Beacon Woods Village or Heritage Lake, Colony Cove reads as one of the more affordable entry points.
The market reality is tight and fast. With just 2 active listings and a median list price of $121,950, inventory is thin, and homes that are priced right move quickly — the median days on market is 6.5. Over the last year, 5 homes sold at a median of $110,000, with sellers collecting about 94% of asking, so there's modest room to negotiate but not much time to deliberate.
Colony Cove is a community in New Port Richey, Florida.
Quick facts
$94,900 – $149K price range
1,008 sqft median home
$329/mo median HOA
6 sold in 12 months
Drive times
Living in Colony Cove
Colony Cove is a compact residential neighborhood in New Port Richey, part of Pasco County on Florida's Gulf-adjacent west-central coast. It's a quieter, lower-key corner of the area, defined by small homes and an affordable price point rather than headline amenities. The community reads as practical and unpretentious — a place to own something of your own without stretching the budget.
The neighborhood tends to attract first-time buyers, downsizers, and investors who value a manageable footprint and predictable costs. With a median home size around 1,008 square feet, these are homes that are easy to maintain and easy to carry. That compactness is the point: you trade square footage for affordability and simplicity.
It won't suit everyone. If you need room for a growing family, want waterfront or a gated community, or prize newer construction, you'll likely look elsewhere in New Port Richey. But for the right buyer, Colony Cove offers a straightforward way into ownership in a region with easy access to the wider Tampa Bay area.
Neighborhoods and communities in Colony Cove
Colony Cove itself is a small, defined neighborhood, so much of the comparison shopping happens against nearby New Port Richey communities. If you're weighing your options, it helps to look at the surrounding areas to understand where Colony Cove fits on price and character.
Flor-a-mar and Beacon Woods Village are two well-known nearby communities worth touring to calibrate value. Heritage Lake is another established option in the area that buyers often consider alongside Colony Cove.
Further out, Moon Lake Estates and the Southeast New Port Richey area round out the local landscape. Seeing a few of these back-to-back is the fastest way to understand what the lower Colony Cove price point buys you — and what it doesn't — before you commit.
Homes for sale in Colony Cove: prices and housing
The numbers tell a clear story of affordability. The median list price in Colony Cove is $121,950, with current active listings spanning $94,900 to $149,000. The average price per square foot sits around $120, and the median home is about 1,008 square feet — small, efficient homes rather than sprawling ones.
Inventory is thin. There are just 2 active listings at the moment, and over the past 12 months only 5 homes sold, at a median sold price of $110,000. Homes that are priced correctly move fast, with a median of 6.5 days on market, and sellers are averaging about 94% of their asking price. That combination means buyers should come prepared to act, while still having modest room to negotiate.
On carrying costs, the median HOA fee is $329 a month and median property tax is about $944 a year. The HOA is a significant monthly line item relative to the low purchase price, so build it into your budget. There is no active waterfront, pool, gated, golf, 55+, or new-construction inventory in the current Colony Cove data, so expect standard, established homes rather than specialty product.
Schools in Colony Cove
Specific school assignments for Colony Cove aren't included in the current data, and school zoning in Pasco County can vary meaningfully from one address to the next. Rather than rely on general assumptions, verify the exact zoned schools for any home you're considering.
The most reliable approach is to use the Pasco County School District's official school-locator tool with the property's full address. This gives you the current elementary, middle, and high school assignments, which can change over time as boundaries are redrawn.
If schools are a top priority, confirm zoning before you make an offer and ask your agent to double-check with the district. That extra step avoids surprises and ensures the home you choose aligns with your family's needs.
Getting around Colony Cove
Like most of Pasco County, Colony Cove is a car-dependent neighborhood where daily errands and commutes happen behind the wheel. Its position in New Port Richey gives it reasonable access to the broader Tampa Bay road network for work and travel.
For commuters and travelers, Tampa International Airport is roughly 43 minutes away, and downtown Tampa is about 47 minutes. Those are manageable drives for occasional trips or a commute, though you'll want to account for peak-hour traffic on the main routes heading east and south.
Within the area, expect to rely on the local arterial roads for shopping, dining, and services elsewhere in New Port Richey. Buyers who prize walkability or transit should set expectations accordingly — this is a drive-everywhere part of the region.
Is Colony Cove a good place to live?
For the right buyer, Colony Cove makes a lot of sense. The appeal is affordability: a median list price under $122,000, recent sales around $110,000, and modest property taxes near $944 a year put ownership within reach for first-timers, downsizers, and investors. The compact homes are easy to maintain, and the location keeps Tampa within commuting distance.
The trade-offs are real. Homes are small, inventory is extremely limited with just 2 active listings, and well-priced homes sell quickly at a median of 6.5 days on market — so you'll need to be ready to move. The $329 median monthly HOA is a notable ongoing cost against the low purchase price, and there's no waterfront, gated, or new-construction product in the current mix.
Bottom line: Colony Cove is a practical, budget-friendly entry into the New Port Richey market rather than a lifestyle destination. If affordability and simplicity top your list, it's worth a serious look — just verify school zoning and HOA details for your specific home, and be prepared to act fast when the right listing appears.
On the market now
Homes for sale in Colony Cove
$94,900
5293 POINCIANA CIRCLE, NEW PORT RICHEY
2 bd · 2 ba · 960 sqft
$149,000
5005 FRENCH CIRCLE, NEW PORT RICHEY
2 bd · 2 ba · 1,056 sqft
Every active listing inside the Colony Cove boundary
Open full map search →The numbers that matter
The Colony Cove market
6
Sold, last 12 months
$113,900
Median sold price
95%
Sale-to-list ratio
What sellers actually get vs asking
80 days
Median time to sell
Colony Cove vs New Port Richey
Median list price
Price per sqft
Days on market
Live Stellar MLS data — every listing and closed sale inside the Colony Cove boundary. Rolling medians smooth single-month swings in small communities.
What it really costs
Owning here
Owning the median Colony Cove home
≈ $1,261/mo
$121,950 median · 20% down · 30-yr fixed at 6.9% · taxes/HOA from live listing data · insurance is a Florida estimate.
$329/mo
Median HOA
From current listings inside the boundary
Straight answers
Colony Cove FAQs
Is Colony Cove a good place to live?+
It suits buyers who want an affordable, low-maintenance home in New Port Richey without a big outlay. The homes are compact and the HOA covers community costs, which appeals to first-timers, downsizers, and investors. If you need space or want to be on the water, you may find more fit in nearby areas like Flor-a-mar.
Is Colony Cove expensive?+
No — it's one of the lower-priced options in the area. The median list price is $121,950 and recent sales have a median of $110,000, well below much of the broader New Port Richey market. That makes it a realistic entry point for budget-conscious buyers.
What do homes cost in Colony Cove?+
Active listings currently range from $94,900 to $149,000, with a median list price of $121,950 and an average of about $120 per square foot. Homes are small, around 1,008 square feet at the median, so the total price stays accessible.
How is the market in Colony Cove?+
It's tight and quick. There are just 2 active listings and homes sell at a median of 6.5 days on market, with 5 sales over the past year at a median of $110,000. Sellers are getting about 94% of asking, so expect some, but limited, negotiating room.
What about HOA and property taxes?+
The median HOA fee is $329 a month, and median property tax is about $944 a year. The HOA is a meaningful part of your monthly budget here, so factor it in alongside the low purchase price.
What schools serve Colony Cove?+
Specific school assignments aren't listed in the current data for Colony Cove. Zoning in Pasco County can vary by exact address, so confirm your assigned schools with the Pasco County School District using the property's address before you buy.
How is the commute from Colony Cove?+
Tampa International Airport is roughly 43 minutes away and downtown Tampa about 47 minutes, making this a workable base for commuters willing to drive. Most daily trips rely on the car, as with much of this part of Pasco County.
Is there new construction in Colony Cove?+
No — there are no new-construction listings active in Colony Cove right now, and none among recent segments. Buyers looking for newer builds would want to broaden their search to other communities such as Moon Lake Estates or beyond.
Keep exploring
More New Port Richey neighborhoods
Neighborhood boundary by edgeAI; listings matched to the polygon. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Stellar MLS.
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