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
$335,000
$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 $335,000 in April 2024, up 4.7% 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 | - | - | N/A |
2 Bedrooms | $315K | $349K | +10.8% |
3 Bedrooms | $269K | $324.2K | +20.5% |
4 Bedrooms | $375K | $319.9K | -14.7% |
5+ Bedrooms | $653.7K | $572.5K | -12.4% |
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 10.8%, 3 bedroom homes increased by 20.5%, 4 bedroom homes decreased by 14.7%, and 5+ bedroom homes decreased by 12.4%.
Median Sold Price Compared To Nearby Cities
Highland Township | $310K | $327.5K | +5.6% |
Richland Township | $320K | $335K | +4.7% |
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 |
---|---|---|
58 | 59 | +1.7% |
Summary: The Richland Township real estate market had 59 homes for sale in April 2024, a 1.7% 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 | 9 | +12.5% |
3 Bedrooms | 15 | 18 | +20.0% |
4 Bedrooms | 26 | 24 | -7.7% |
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 increased by 12.5%, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
11 | 16 | +45.5% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in Richland Township in April 2024, up by 45.5% month-over-month. Of the 16 sold homes, 44% were sold under asking, 38% were sold at asking, and 19% 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 |
---|---|---|
19 Days | 76 Days | +288.7% |
Summary: Homes in Richland Township had an average of 76 days on market in Apr 2024, up by 288.7% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 16 homes were sold in Richland Township; 25% of homes were sold within 30 days, 56% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.