Is Richfield, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Richfield has remained a Seller's Market.
Housing Prices in Richfield, OH
How much do homes in Richfield, OH cost?
Median Sold Price
$525,000
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Richfield was $525,000 in March 2024, down 4.5% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $255K | $369.5K | +44.9% |
3 Bedrooms | $327.7K | $295K | -10.0% |
4 Bedrooms | $669.9K | $608.1K | -9.2% |
5+ Bedrooms | $807.5K | $849.9K | +5.3% |
Summary: Richfield 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 44.9%, 3 bedroom homes decreased by 10%, 4 bedroom homes decreased by 9.2%, and 5+ bedroom homes increased by 5.3%.
Median Sold Price Compared To Nearby Cities
Bath Township | $457K | $455.2K | -0.4% |
Richfield Township | $525K | $512.4K | -2.4% |
Brecksville | $367.4K | $355K | -3.4% |
Richfield | $550K | $525K | -4.5% |
Housing Supply in Richfield, OH
How many homes are available in Richfield, OH?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
20 | 21 | +5.0% |
Summary: The Richfield real estate market had 21 homes for sale in March 2024, a 5.0% 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 | 2 | 1 | -50.0% |
3 Bedrooms | 3 | 7 | +133.3% |
4 Bedrooms | 8 | 8 | 0.0% |
5+ Bedrooms | 7 | 5 | -28.6% |
Summary: The Richfield 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 50%, 3 bedroom homes increased by 133.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 28.6%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
5 | 4 | -20.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Richfield in March 2024, down by 20.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Richfield, OH
How long does it take to sell a home in Richfield, OH?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
35 Days | 44 Days | +25.7% |
Summary: Homes in Richfield had an average of 44 days on market in Mar 2024, up by 25.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 4 homes were sold in Richfield; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.