Is Richland Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Richland Township has remained a Seller's Market.
Housing Prices in Richland Township, MI
How much do homes in Richland Township, MI cost?
Median Sold Price
$355,000
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Richland Township was $355,000 in April 2024, up 4.4% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $38K | - | N/A |
2 Bedrooms | $340.5K | $349K | +2.5% |
3 Bedrooms | $260K | $333.9K | +28.4% |
4 Bedrooms | $362.4K | $335K | -7.6% |
5+ Bedrooms | $585K | $572.5K | -2.1% |
Summary: Richland Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.5%, 3 bedroom homes increased by 28.4%, 4 bedroom homes decreased by 7.6%, and 5+ bedroom homes decreased by 2.1%.
Median Sold Price Compared To Nearby Cities
Richland Township | $339.9K | $355K | +4.4% |
Richland | $337.5K | $350K | +3.7% |
Prairieville Township | $340K | $325K | -4.4% |
Ross Township | $430K | $390K | -9.3% |
Housing Supply in Richland Township, MI
How many homes are available in Richland Township, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
60 | 62 | +3.3% |
Summary: The Richland Township real estate market had 62 homes for sale in April 2024, a 3.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 8 | 8 | 0.0% |
3 Bedrooms | 16 | 20 | +25.0% |
4 Bedrooms | 27 | 26 | -3.7% |
5+ Bedrooms | 9 | 8 | -11.1% |
Summary: The Richland Township housing inventory by bedroom type for April 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 25%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
12 | 17 | +41.7% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 17 homes were sold or pending in Richland Township in April 2024, up by 41.7% month-over-month. Of the 17 sold homes, 41% were sold under asking, 41% were sold at asking, and 18% were sold over asking.
Days on Market for Richland Township, MI
How long does it take to sell a home in Richland Township, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
9 Days | 81 Days | +808.5% |
Summary: Homes in Richland Township had an average of 81 days on market in Apr 2024, up by 808.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 17 homes were sold in Richland Township; 24% of homes were sold within 30 days, 53% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.