Is Richland Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Richland Township was a Seller's Market.
Housing Prices in Richland Township, MI
How much do homes in Richland Township, MI cost?
Median Sold Price
$350,000
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Richland Township was $350,000 in March 2024, down 1% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $38K | - | N/A |
2 Bedrooms | $315K | $318K | +1.0% |
3 Bedrooms | $260K | $335.2K | +28.9% |
4 Bedrooms | $385K | $320K | -16.9% |
5+ Bedrooms | $600K | $551K | -8.2% |
Summary: Richland Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1%, 3 bedroom homes increased by 28.9%, 4 bedroom homes decreased by 16.9%, and 5+ bedroom homes decreased by 8.2%.
Median Sold Price Compared To Nearby Cities
Prairieville Township | $315.9K | $350K | +10.8% |
Richland Township | $353.4K | $350K | -1.0% |
Ross Township | $430K | $415K | -3.5% |
Richland | $363.5K | $335.2K | -7.8% |
Housing Supply in Richland Township, MI
How many homes are available in Richland Township, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
50 | 51 | +2.0% |
Summary: The Richland Township real estate market had 51 homes for sale in March 2024, a 2.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 9 | 7 | -22.2% |
3 Bedrooms | 12 | 16 | +33.3% |
4 Bedrooms | 20 | 22 | +10.0% |
5+ Bedrooms | 9 | 6 | -33.3% |
Summary: The Richland Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 22.2%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
9 | 8 | -11.1% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Richland Township in March 2024, down by 11.1% month-over-month. Of the 8 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.
Days on Market for Richland Township, MI
How long does it take to sell a home in Richland Township, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
18 Days | 45 Days | +141.6% |
Summary: Homes in Richland Township had an average of 45 days on market in Mar 2024, up by 141.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 8 homes were sold in Richland Township; 50% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.