Terrace Park Ph 03
Homes for Sale in Wesley Chapel, FL
True comps, carrying-cost math, and listings before the portals.
Market Heat
Terrace Park Ph 03 is a small phase within a larger Wesley Chapel community, and the honest truth is that our current snapshot is thin — closings over the last window are limited, so there is no reliable median or spread to quote here yet. When inventory is this sparse, price is set less by a neighborhood-wide market and more by the condition and specifics of whatever single home happens to be on the market.
For a buyer, that means the comps you lean on will likely come from the broader area rather than this phase alone, and pricing judgment matters more than pulling an average. For a seller, it means your home will largely define the market rather than follow it — which cuts both ways. We would rather tell you that plainly than manufacture a number.
Terrace Park Ph 03 right now
🔴 Off the recent peak. The trailing-12-month median ($100K) is down 54.1% from the prior 12 months ($218K). With about 3 sales a year, a single closing can swing this number, so read the level and the decade, not one year's move.Momentum Research, record-level Stellar MLS closed sales, 12-month windows ending July 15. Confidence: Low (5 and 6 sales in the two windows).
What's unique here: the median sale price is about 71% below the typical Pasco County sale ($100K vs $340K, trailing 12 months, Stellar MLS records).
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Updated July 15, 2026 · Live data: Stellar MLS, refreshed twice daily · MLS facts carry their source; interpretation lines are Momentum Research · Data sources & freshness
The 60-Second Overview
Terrace Park Ph 03 market snapshot (as of July 15, 2026): the median sale price is about $100K ($93 per sq ft over the trailing 12 months of closed sales), and a median 21 days on market for closed sales. The trailing-12-month median is down 54% from the prior 12 months, computed from record-level Stellar MLS closed sales (5 closings in the current window).
Terrace Park Ph 03 is a community of 171 homes in Wesley Chapel, Pasco County, built between 1967 and 2005 (median 1987), with a median living area of about 1,388 square feet. 66% of parcels are homesteaded, the owner-occupancy proxy in the Florida DOR assessment roll (2025 roll, public records).
Terrace Park Ph 03 is a defined phase inside Wesley Chapel, Pasco County; with only a small number of recent closings to reference, it reads more as part of a larger community fabric than as a standalone micro-market.
Who Terrace Park Ph 03 is best for.
Best for
- Buyers who want a Wesley Chapel address and are comfortable evaluating a home on condition and layout rather than a phase-level price trend
- Sellers willing to let a strong, well-prepped home define the market in a low-activity phase
- Patient buyers who can act decisively when the right property in a small phase becomes available
Probably not for
- Buyers who want to negotiate against a long list of recent comparable sales in the same phase
- Sellers expecting a predictable, data-rich local benchmark to price against
- Anyone who needs steady, high-volume turnover to feel confident about liquidity
Price History: What Homes Here Have Actually Sold For
Median sale price over the trailing 12 months ending July 15 of each year, from record-level Stellar MLS closed sales. Same methodology as every appreciation figure on this page: the 2026 point ($100K) IS the median in the snapshot above, and the move from 2025 ($218K) IS the -54.1% one-year change.
Windows contain 0 to 8 sales each (5 in the current window); every figure carries its sample size, and thin markets swing on single closings. Based on Stellar MLS data distributed by MLS GRID for the period %s through %s. Deemed reliable but not guaranteed.
The Terrace Park Ph 03 buying strategy.
If we were buying in Terrace Park Ph 03 today, this is the order of operations we would run for our clients.
Underwrite the condition first. Price the roof, HVAC, and systems honestly before judging any list price; condition swings value here more than square footage alone.
Match the home to real comps. Recent sales of similar condition and lot, not the asking price, tell you what a home is worth.
Move deliberately, not desperately. Neither side has a decisive edge, so a well-prepared, fairly-priced offer wins without overpaying.
Line up financing and inspection early. A pre-approval and an inspection plan let you act fast and negotiate from evidence.
Keep an agent in your corner. The listing agent works for the seller; we represent you and prepare a hand-built valuation before any offer in Terrace Park Ph 03.
A thin-data phase
The single most useful thing to understand about this phase is scale. It is one section of a bigger Wesley Chapel development, and the recent closing activity here is limited enough that any statistical picture would be noise dressed up as signal. We are not going to pretend otherwise.
Practically, that shifts the work onto the individual property. Layout, condition, lot position, and what has recently traded nearby will drive value more than any phase-level trend. This is a place where a careful, home-by-home read beats a spreadsheet — and where the surrounding Wesley Chapel context does most of the explaining.
The location and the amenities are priced into every listing in Terrace Park Ph 03. The deal is won or lost on condition, the comps, and the renovation math.
Momentum Buy Score.
Our proprietary 0 to 10 read across the factors that decide how a home in Terrace Park Ph 03 buys, holds, and resells. Momentum Research; not an appraisal.
Momentum Intelligence Scores are our proprietary, qualitative assessment on a 0 to 10 scale, built from the record-level market data on this page. They are a framework for comparing communities, not a guarantee of future value and not advice on a specific home; unlike an automated value estimate they do not price your home, they grade the community on evidence you can inspect. Composite is the plain average of the 3 factors (4.4). Basis: Recent Direction -54.1% year-over-year; Owner Commitment 66% owner-occupied; Pricing Power 95.0% sale-to-list. Refreshed with each data update.
Why work with Momentum here
In a phase with this little recent activity, the value of a local broker is in the comp work, not the headline stat. We pull from the wider Wesley Chapel market, weigh condition honestly, and price to what a specific home actually offers rather than to a number that does not exist for this phase. If the data is thin, we will say so and build the case from the ground up.
Terrace Park Ph 03 in 15 seconds.
HOA, CDD & Fees
- Mandatory HOA — confirm current dues
- Any club/amenity membership is billed separately
Confirm the current HOA dues, exactly what they cover, and any CDD bond or special assessment for a specific address before you offer.
Tools for a Terrace Park Ph 03 buy.
Free calculators to pressure-test the real cost before you tour.
Selling here is won on condition and pricing to real comps, not an automated estimate. The right number comes from closed Terrace Park Ph 03 sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in Terrace Park Ph 03, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your Terrace Park Ph 03 home worth?
Get a no-obligation home value based on real comparable sales in Terrace Park Ph 03, not an automated guess. Tell us about your home and we will personally prepare your numbers and a pricing strategy. No obligation, no spam.
See homes for sale in Terrace Park Ph 03 on the map →
Frequently Asked Questions
What is the median home price in Terrace Park Ph 03?
How long do homes in Terrace Park Ph 03 take to sell?
How many homes are in Terrace Park Ph 03?
What share of Terrace Park Ph 03 is owner-occupied?
When were the homes in Terrace Park Ph 03 built?
Do cash buyers compete in Terrace Park Ph 03?
Who is the best real estate agent for Terrace Park Ph 03?
How do I find a top Wesley Chapel real estate agent who knows Terrace Park Ph 03?
Can Momentum Realty connect me with an agent for Terrace Park Ph 03?
Should you buy in Terrace Park Ph 03?
An honest fit check. We will tell you when it is not your community.
Data sources & freshness
| Community market stats | Stellar MLS closed sales, 12-month windows ending July 15, 2026 |
| Housing stock & ownership | Florida DOR 2025 assessment roll (street-list match (6 streets, ZIP 33540/33543)) |
| Under-contract shares | Stellar MLS records, as of 2026-07-12 |
| Historical depth | Closed-sale records back to 2013 (54 transactions analyzed) |
Verify the primary sources yourself: Florida DOR · U.S. Census · FEMA flood maps · Citizens Property Insurance.
Momentum Research figures are our own analysis of Stellar MLS records; MLS data is deemed reliable but not guaranteed. Methodology: how Momentum market scores are computed. Market metrics describe homes for sale and recent sales, not residents.
Own a home here?
You just read the data. Now see what your home is worth.
The numbers on this page move markets in the aggregate. The number that matters to you is what a buyer pays for your address. Momentum sells for 1.25% above the Stellar MLS member average and 8 days faster, and we’ll price yours against live your area comps.
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