$8,609 Closing Credit*
$725,000
3,504 SqFt
4 Beds
•2 Full Baths, 1 Partial
Listing Office: Beycome Brokerage Realty LLC
Is Richmond, MN 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, Richmond was a Seller's Market.
Key Takeaway
Richmond is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Richmond, MN
How much do homes in Richmond, MN cost?
Median Sold Price
$345,000
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$15,050(+4.6%)
Key Takeaway
Homes in Richmond have sold for 4.6% more than they did a year ago.
Summary: The median home sold price in Richmond was $345,000 in November 2024, up 4.6% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $130.7K | $150K | +14.7% |
| 2 Bedrooms | $252.5K | $289K | +14.5% |
| 3 Bedrooms | $372.5K | $337K | -9.5% |
| 4 Bedrooms | $460K | $500K | +8.7% |
| 5+ Bedrooms | $231K | $422.5K | +82.9% |
Summary: Richmond housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.7%, 2 bedroom homes increased by 14.5%, 3 bedroom homes decreased by 9.5%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 82.9%.
Median Sold Price Compared To Nearby Cities
| Munson Township | $375K | $459K | +22.4% |
| Richmond | $329.9K | $345K | +4.6% |
| Wakefield Township | $484K | $429.9K | -11.2% |
Housing Supply in Richmond, MN
How many homes are available in Richmond, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 28 | 27 | -3.6% |
Summary: The Richmond real estate market had 27 homes for sale in November 2024, a 3.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 15 | 14 | -6.7% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Richmond 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 decreased by 50%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 6 | 3 | -50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Richmond, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Richmond in November 2024, down by 50.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Richmond, MN
How long does it take to sell a home in Richmond, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 19 Days | 57 Days | +196.1% |
Summary: Homes in Richmond had an average of 57 days on market in Nov 2024, up by 196.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Richmond has remained consistent over time.
Summary: During November 2024, 3 homes were sold in Richmond; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
