$4,096 Closing Credit*
$344,900
1,830 SqFt
4 Beds
•2 Full Baths, 1 Partial
Mike McGivney, Listing Office: Allen Edwin Realty
Is Richland Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Richland Township was a Buyer's Market.
Key Takeaway
Richland Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Richland Township, MI
How much do homes in Richland Township, MI cost?
Median Sold Price
$327,450
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$27,450(+9.2%)
Key Takeaway
Homes in Richland Township have sold for 9.2% more than they did a year ago.
Summary: The median home sold price in Richland Township was $327,450 in November 2024, up 9.2% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $250K | $302K | +20.8% |
| 3 Bedrooms | $273.1K | $302.2K | +10.7% |
| 4 Bedrooms | $316K | $345.5K | +9.3% |
| 5+ Bedrooms | $772.7K | $567.4K | -26.6% |
Summary: Richland Township 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 20.8%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes decreased by 26.6%.
Median Sold Price Compared To Nearby Cities
| Hemlock | $178.5K | $248.5K | +39.2% |
| Thomas Township | $190K | $224K | +17.9% |
| Freeland | $285K | $315K | +10.5% |
| Richland Township | $300K | $327.4K | +9.2% |
Housing Supply in Richland Township, MI
How many homes are available in Richland Township, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 75 | 64 | -14.7% |
Summary: The Richland Township real estate market had 64 homes for sale in November 2024, a 14.7% 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 | 28 | 25 | -10.7% |
| 4 Bedrooms | 28 | 20 | -28.6% |
| 5+ Bedrooms | 12 | 12 | 0.0% |
Summary: The Richland Township 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 10.7%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 18 | 10 | -44.4% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 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. 50% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Richland Township in November 2024, down by 44.4% month-over-month. Of the 10 sold homes, 50% were sold under asking, 20% were sold at asking, and 30% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 35 Days | 35 Days | -0.6% |
Summary: Homes in Richland Township had an average of 35 days on market in Nov 2024, down by 0.6% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Richland Township are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 10 homes were sold in Richland Township; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
