$50,000
9.20 Acres
Land
Caroline Oeschger, Listing Office: Salmon River Realty
Is Richland, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Richland has remained a Seller's Market.
Key Takeaway
Richland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Richland, NY
How much do homes in Richland, NY cost?
Median Sold Price
$175,000
$118/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$7,500(-4.1%)
Key Takeaway
Homes in Richland have sold for 4.1% less than they did a year ago.
Summary: The median home sold price in Richland was $175,000 in November 2024, down 4.1% from last year, and the median price per square foot was $118.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $75K | $95K | +26.7% |
| 2 Bedrooms | $140K | $158K | +12.9% |
| 3 Bedrooms | $184.2K | $194.9K | +5.8% |
| 4 Bedrooms | $225K | $195K | -13.3% |
| 5+ Bedrooms | $210K | $175K | -16.7% |
Summary: Richland housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.7%, 2 bedroom homes increased by 12.9%, 3 bedroom homes increased by 5.8%, 4 bedroom homes decreased by 13.3%, and 5+ bedroom homes decreased by 16.7%.
Median Sold Price Compared To Nearby Cities
| Albion | $156.2K | $153.6K | -1.7% |
| Pulaski | $197K | $192K | -2.5% |
| Richland | $182.5K | $175K | -4.1% |
| Orwell | $200K | $145K | -27.5% |
Housing Supply in Richland, NY
How many homes are available in Richland, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 28 | 21 | -25.0% |
Summary: The Richland real estate market had 21 homes for sale in November 2024, a 25.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 10 | 5 | -50.0% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Richland housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 50%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Richland, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Richland in November 2024, down by 28.6% month-over-month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.
Days on Market for Richland, NY
How long does it take to sell a home in Richland, NY?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 19 Days | 21 Days | +9.9% |
Summary: Homes in Richland had an average of 21 days on market in Nov 2024, up by 9.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Richland are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 5 homes were sold in Richland; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
