$10,000 Closing Credit*
$2,125,000
3,282 SqFt
4 Beds
•4 Full Baths, 1 Partial
Tom Clancy, Listing Office: Berkshire Hathaway HomeServices MI
Is Richland Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Richland Township has remained a Seller's Market.
Key Takeaway
Richland Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Richland Township, MI
How much do homes in Richland Township, MI cost?
Median Sold Price
$320,050
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$6,550(+2.1%)
Key Takeaway
Homes in Richland Township have sold for 2.1% more than they did a year ago.
Summary: The median home sold price in Richland Township was $320,050 in October 2024, up 2.1% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $276K | $302K | +9.4% |
| 3 Bedrooms | $269K | $292.5K | +8.7% |
| 4 Bedrooms | $339.9K | $325K | -4.4% |
| 5+ Bedrooms | $772.7K | $616.4K | -20.2% |
Summary: Richland Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.4%, 3 bedroom homes increased by 8.7%, 4 bedroom homes decreased by 4.4%, and 5+ bedroom homes decreased by 20.2%.
Median Sold Price Compared To Nearby Cities
| Hemlock | $172.4K | $237.4K | +37.7% |
| Thomas Township | $188K | $220K | +17.0% |
| Freeland | $300K | $312.8K | +4.3% |
| Richland Township | $313.5K | $320K | +2.1% |
Housing Supply in Richland Township, MI
How many homes are available in Richland Township, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 77 | 76 | -1.3% |
Summary: The Richland Township real estate market had 76 homes for sale in October 2024, a 1.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 9 | +12.5% |
| 3 Bedrooms | 27 | 27 | 0.0% |
| 4 Bedrooms | 29 | 28 | -3.4% |
| 5+ Bedrooms | 13 | 12 | -7.7% |
Summary: The Richland Township housing inventory by bedroom type for October 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 remained the same, 4 bedroom homes decreased by 3.4%, and 5+ bedroom homes decreased by 7.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 16 | +6.7% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Richland Township, you may be able to get a good deal. 43.8% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in Richland Township in October 2024, up by 6.7% month-over-month. Of the 16 sold homes, 44% were sold under asking, 31% were sold at asking, and 25% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 17 Days | 86 Days | +394.3% |
Summary: Homes in Richland Township had an average of 86 days on market in Oct 2024, up by 394.3% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Richland Township has remained consistent over time.
Summary: During October 2024, 16 homes were sold in Richland Township; 31% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
