Is Richwood, TX 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, Richwood was a Seller's Market.
Key Takeaway
Richwood is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Richwood, TX
How much do homes in Richwood, TX cost?
Median Sold Price
$247,500
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Richwood have sold for 8.3% less than they did a year ago.
Summary: The median home sold price in Richwood was $247,500 in March 2024, down 8.3% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $50K | N/A |
| 2 Bedrooms | $80K | $163.5K | +104.4% |
| 3 Bedrooms | $267.4K | $247.5K | -7.5% |
| 4 Bedrooms | $345K | $296K | -14.2% |
| 5+ Bedrooms | $549.4K | $318K | -42.1% |
Summary: Richwood 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 104.4%, 3 bedroom homes decreased by 7.5%, 4 bedroom homes decreased by 14.2%, and 5+ bedroom homes decreased by 42.1%.
Median Sold Price Compared To Nearby Cities
| Clute | $242.5K | $280K | +15.5% |
| Lake Jackson | $273.7K | $259.2K | -5.3% |
| Brazosport | $274.9K | $259.3K | -5.7% |
| Richwood | $269.9K | $247.5K | -8.3% |
Housing Supply in Richwood, TX
How many homes are available in Richwood, TX?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 21 | 26 | +23.8% |
Summary: The Richwood real estate market had 26 homes for sale in March 2024, a 23.8% 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 12 | 16 | +33.3% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Richwood 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 remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
2 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 Richwood, 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 Richwood in March 2024, up by 33.3% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Richwood, TX
How long does it take to sell a home in Richwood, TX?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 62 Days | 108 Days | +74.8% |
Summary: Homes in Richwood had an average of 108 days on market in Mar 2024, up by 74.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Richwood are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 4 homes were sold in Richwood; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
Disclaimer: The MLS data is provided exclusively to Participants or Subscribers for display on their website solely for consumers’ personal, non-commercial use, that the MLS data may not be used for any purpose other than to display prospective properties consumers may be interested in purchasing or leasing. Information contained on the computer print-outs of the Multiple Listing Service (MLS) of the HOUSTON REALTORS® INFORMATION SERVICE (HRIS) is furnished by MLS Participants for dissemination to other MLS Participants, for their exclusive use, and should not be relied upon by Buyer/Tenant or any other person. There is no express or implied warranty by HRIS or MLS as to the accuracy of such information, which should be independently verified by Buyer/Tenant or such other person. MLS does not verify the information and disclaims any responsibility for its accuracy. Any estimate of value was prepared using automated processes and should not be considered a comparative market analysis (CMA) or appraisal. You may contact us to provide additional information and analysis for a more accurate estimate of the property's value. Digital images modified or enhanced to alter real property characteristics contain a visible and legible watermark across the bottom of the image “Image does not represent actual property as is”.