Is Richfield Township, 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 Township has remained a Seller's Market.
Key Takeaway
Richfield Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Richfield Township, OH
How much do homes in Richfield Township, OH cost?
Median Sold Price
$512,450
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Richfield Township have sold for 2.4% less than they did a year ago.
Summary: The median home sold price in Richfield Township was $512,450 in March 2024, down 2.4% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $255K | $350K | +37.3% |
| 3 Bedrooms | $330K | $295K | -10.6% |
| 4 Bedrooms | $650K | $608.1K | -6.4% |
| 5+ Bedrooms | $807.5K | $849.9K | +5.3% |
Summary: Richfield 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 37.3%, 3 bedroom homes decreased by 10.6%, 4 bedroom homes decreased by 6.4%, and 5+ bedroom homes increased by 5.3%.
Median Sold Price Compared To Nearby Cities
| Hinckley | $410K | $470K | +14.6% |
| Bath Township | $457K | $455.2K | -0.4% |
| Richfield Township | $525K | $512.4K | -2.4% |
| Richfield | $550K | $525K | -4.5% |
Housing Supply in Richfield Township, OH
How many homes are available in Richfield Township, OH?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 20 | 21 | +5.0% |
Summary: The Richfield Township 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 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 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
Key Takeaway
If you're buying a home in Richfield Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Richfield Township 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 Township, OH
How long does it take to sell a home in Richfield Township, OH?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 30 Days | 44 Days | +49.2% |
Summary: Homes in Richfield Township had an average of 44 days on market in Mar 2024, up by 49.2% 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
Key Takeaway
Many homes in Richfield Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 4 homes were sold in Richfield Township; 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.
Copyright 2024 MLS Now. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Buyer to verify all information. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). The photos may be altered, edited, enhanced or virtually staged.