Is Richfield Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Richfield Township has remained a Seller's Market.
Housing Prices in Richfield Township, MI
How much do homes in Richfield Township, MI cost?
Median Sold Price
$120,000
$120/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Richfield Township was $120,000 in April 2024, up 11.1% from last year, and the median price per square foot was $120.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $95K | $84.7K | -10.8% |
2 Bedrooms | $99K | $95.7K | -3.3% |
3 Bedrooms | $130K | $141.7K | +9.0% |
4 Bedrooms | $174.9K | $243.5K | +39.2% |
5+ Bedrooms | - | - | N/A |
Summary: Richfield Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.8%, 2 bedroom homes decreased by 3.3%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 39.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Richfield Township | $108K | $120K | +11.1% |
Saint Helen | $109.9K | $120K | +9.2% |
Housing Supply in Richfield Township, MI
How many homes are available in Richfield Township, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
33 | 38 | +15.2% |
Summary: The Richfield Township real estate market had 38 homes for sale in April 2024, a 15.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 22 | 22 | 0.0% |
3 Bedrooms | 9 | 9 | 0.0% |
4 Bedrooms | 0 | 2 | +100.0% |
5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The Richfield Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
8 | 12 | +50.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Richfield Township in April 2024, up by 50.0% month-over-month. Of the 12 sold homes, 50% were sold under asking, 33% were sold at asking, and 17% were sold over asking.
Days on Market for Richfield Township, MI
How long does it take to sell a home in Richfield Township, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
215 Days | 92 Days | -57.0% |
Summary: Homes in Richfield Township had an average of 92 days on market in Apr 2024, down by 57% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 12 homes were sold in Richfield Township; 8% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.