Is Richland County, ND a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Richland County is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Richland County has remained a Seller's Market.

Key Takeaway

Richland County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Richland County, ND

How much do homes in Richland County, ND cost?

Median Sold Price

$215,000

$92/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$25,000(+13.2%)

Key Takeaway

Homes in Richland County have sold for 13.2% more than they did a year ago.

Summary: The median home sold price in Richland County was $215,000 in February 2024, up 13.2% from last year, and the median price per square foot was $92.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $25K$180K
+620.0%
2 $115.2K$81.1K
-29.6%
3 $192.5K$199.5K
+3.6%
4 $230K$280K
+21.7%
5+ $280K$307.5K
+9.8%

Summary: Richland County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 620%, 2 bedroom homes decreased by 29.6%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 21.7%, and 5+ bedroom homes increased by 9.8%.

Median Sold Price Compared To Nearby Counties

Richland County
+13.2%
Clay County
+7.7%
Cass County
+2.4%
Wilkin County
-5.0%

Housing Supply in Richland County, ND

How many homes are available in Richland County, ND?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
4950+2.0%

Summary: The Richland County real estate market had 50 homes for sale in February 2024, a 2.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 77
0.0%
3 1518
+20.0%
4 1819
+5.6%
5+ 96
-33.3%

Summary: The Richland County housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
510+100.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Richland County, you may be able to get a good deal. 70% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in Richland County in February 2024, up by 100.0% month-over-month. Of the 10 sold homes, 70% were sold under asking, 20% were sold at asking, and 10% were sold over asking.

Days on Market for Richland County, ND

How long does it take to sell a home in Richland County, ND?

Average Sale Time

Feb 2023Feb 2024CHANGE
94 Days149 Days+58.8%

Summary: Homes in Richland County had an average of 149 days on market in Feb 2024, up by 58.8% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Richland County are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During February 2024, 10 homes were sold in Richland County; 20% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in Richland County, ND

Nearby Markets to Richland County, ND

What housing markets are near Richland County, ND?