$7,718 Closing Credit*
$649,900
3,888 SqFt
4 Beds
•2 Full Baths, 1 Partial
John R Pappas, Listing Office: Live Local Properties
Is Richland, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Richland has remained a Buyer's Market.
Key Takeaway
Richland is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Richland, MI
How much do homes in Richland, MI cost?
Median Sold Price
$358,000
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$23,000(+6.9%)
Key Takeaway
Homes in Richland have sold for 6.9% more than they did a year ago.
Summary: The median home sold price in Richland was $358,000 in November 2024, up 6.9% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $318K | $325K | +2.2% |
| 3 Bedrooms | $290K | $319.9K | +10.3% |
| 4 Bedrooms | $337.4K | $369K | +9.3% |
| 5+ Bedrooms | $772.7K | $574.9K | -25.6% |
Summary: Richland housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes decreased by 25.6%.
Median Sold Price Compared To Nearby Cities
| Richland | $335K | $358K | +6.9% |
| Richland Township | $337.4K | $360K | +6.7% |
Housing Supply in Richland, MI
How many homes are available in Richland, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 60 | 50 | -16.7% |
Summary: The Richland real estate market had 50 homes for sale in November 2024, a 16.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 20 | 17 | -15.0% |
| 4 Bedrooms | 23 | 16 | -30.4% |
| 5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The Richland housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 15%, 4 bedroom homes decreased by 30.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 17 | 6 | -64.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Richland, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Richland in November 2024, down by 64.7% month-over-month. Of the 6 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Richland, MI
How long does it take to sell a home in Richland, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 26 Days | 50 Days | +88.8% |
Summary: Homes in Richland had an average of 50 days on market in Nov 2024, up by 88.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Richland has remained consistent over time.
Summary: During November 2024, 6 homes were sold in Richland; 17% of homes were sold within 30 days, 83% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
