$3,325 Closing Credit*
$280,000
1,248 SqFt
2 Beds
•2 Full Baths
Austin Adams, Listing Office: EXP Realty - Fenton
Is Richfield Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
Since last year, Richfield Township has remained a Seller's Market.
Key Takeaway
Richfield Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Richfield Township, MI
How much do homes in Richfield Township, MI cost?
Median Sold Price
$240,000
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$11,525(+5.0%)
Key Takeaway
Homes in Richfield Township have sold for 5% more than they did a year ago.
Summary: The median home sold price in Richfield Township was $240,000 in September 2024, up 5% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $198K | - | N/A |
| 2 Bedrooms | $163.5K | $188K | +15.0% |
| 3 Bedrooms | $228.4K | $242K | +5.9% |
| 4 Bedrooms | $299.9K | $329K | +9.7% |
| 5+ Bedrooms | $287.8K | $288.5K | 0.2% |
Summary: Richfield Township housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 0.2%.
Median Sold Price Compared To Nearby Cities
| Elba Township | $235K | $340K | +44.7% |
| Oregon Township | $228.9K | $280K | +22.3% |
| Davison Township | $234.9K | $248K | +5.6% |
| Richfield Township | $228.4K | $240K | +5.0% |
| Forest Township | $200K | $176K | -12.0% |
Housing Supply in Richfield Township, MI
How many homes are available in Richfield Township, MI?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 30 | 30 | 0.0% |
Summary: The Richfield Township real estate market had 30 homes for sale in September 2024, the same as August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 16 | 17 | +6.3% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Richfield Township housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 6.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 8 | 9 | +12.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Richfield Township, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Richfield Township in September 2024, up by 12.5% month-over-month. Of the 9 sold homes, 44% were sold under asking, 0% were sold at asking, and 56% 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
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 15 Days | 20 Days | +30.5% |
Summary: Homes in Richfield Township had an average of 20 days on market in Sep 2024, up by 30.5% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Richfield Township are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 9 homes were sold in Richfield Township; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.