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
$305,000
$190/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 $305,000 in April 2024, up 2.6% from last year, and the median price per square foot was $190.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $250K | $226.5K | -9.4% |
3 Bedrooms | $250K | $285K | +14.0% |
4 Bedrooms | $355K | $311.5K | -12.2% |
5+ Bedrooms | $653.7K | $585K | -10.5% |
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 decreased by 9.4%, 3 bedroom homes increased by 14%, 4 bedroom homes decreased by 12.2%, and 5+ bedroom homes decreased by 10.5%.
Median Sold Price Compared To Nearby Cities
Hemlock | $170K | $198.5K | +16.8% |
Thomas Township | $185K | $200K | +8.1% |
Richland Township | $297.3K | $305K | +2.6% |
Freeland | $300K | $278.5K | -7.2% |
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 |
---|---|---|
65 | 68 | +4.6% |
Summary: The Richland Township real estate market had 68 homes for sale in April 2024, a 4.6% 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 | 9 | 8 | -11.1% |
3 Bedrooms | 21 | 25 | +19.0% |
4 Bedrooms | 26 | 27 | +3.8% |
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 decreased by 11.1%, 3 bedroom homes increased by 19%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
13 | 21 | +61.5% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in Richland Township in April 2024, up by 61.5% month-over-month. Of the 21 sold homes, 48% were sold under asking, 33% 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 |
---|---|---|
9 Days | 67 Days | +651.9% |
Summary: Homes in Richland Township had an average of 67 days on market in Apr 2024, up by 651.9% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 21 homes were sold in Richland Township; 33% of homes were sold within 30 days, 48% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.