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
$319,999
$205/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 $319,999 in March 2024, down 9.9% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $225K | $85K | -62.2% |
2 Bedrooms | $250K | $289.5K | +15.8% |
3 Bedrooms | $260K | $290K | +11.5% |
4 Bedrooms | $430K | $320K | -25.6% |
5+ Bedrooms | $781.5K | $551K | -29.5% |
Summary: Richland Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 62.2%, 2 bedroom homes increased by 15.8%, 3 bedroom homes increased by 11.5%, 4 bedroom homes decreased by 25.6%, and 5+ bedroom homes decreased by 29.5%.
Median Sold Price Compared To Nearby Cities
Mason Township | $230K | $259.9K | +13.0% |
Richland Township | $355K | $319.9K | -9.9% |
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 |
---|---|---|
48 | 50 | +4.2% |
Summary: The Richland Township real estate market had 50 homes for sale in March 2024, a 4.2% 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 | 8 | -11.1% |
3 Bedrooms | 12 | 16 | +33.3% |
4 Bedrooms | 18 | 20 | +11.1% |
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 11.1%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
8 | 7 | -12.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Richland Township in March 2024, down by 12.5% month-over-month. Of the 7 sold homes, 29% were sold under asking, 43% were sold at asking, and 29% 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 |
---|---|---|
22 Days | 48 Days | +121.4% |
Summary: Homes in Richland Township had an average of 48 days on market in Mar 2024, up by 121.4% compared to last year.
Breakdown of Home Sale Times
3 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, 7 homes were sold in Richland Township; 43% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.