$21,900
2.25 Acres
Land
Jaclyn Thomas, Listing Office: Hunt Real Estate ERA
Is Richland, NY 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 has remained a Seller's Market.
Key Takeaway
Richland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Richland, NY
How much do homes in Richland, NY cost?
Median Sold Price
$175,000
$116/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$3,500(+2.0%)
Key Takeaway
Homes in Richland have sold for 2% more than they did a year ago.
Summary: The median home sold price in Richland was $175,000 in October 2024, up 2% from last year, and the median price per square foot was $116.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $75K | - | N/A |
| 2 Bedrooms | $140K | $141.7K | +1.3% |
| 3 Bedrooms | $186K | $199.9K | +7.5% |
| 4 Bedrooms | $190K | $192K | +1.1% |
| 5+ Bedrooms | $210K | $175K | -16.7% |
Summary: Richland 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 1.3%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes decreased by 16.7%.
Median Sold Price Compared To Nearby Cities
| Orwell | $188K | $198.4K | +5.6% |
| Richland | $171.5K | $175K | +2.0% |
| Albion | $154.9K | $155.5K | 0.4% |
| Pulaski | $194K | $182.5K | -5.9% |
Housing Supply in Richland, NY
How many homes are available in Richland, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 | 24 | +4.3% |
Summary: The Richland real estate market had 24 homes for sale in October 2024, a 4.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 10 | 10 | 0.0% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Richland 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 decreased by 25%, 3 bedroom homes remained the same, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1 | 6 | +500.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Richland, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Richland in October 2024, up by 500.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Richland, NY
How long does it take to sell a home in Richland, NY?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 92 Days | 18 Days | -80.3% |
Summary: Homes in Richland had an average of 18 days on market in Oct 2024, down by 80.3% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Richland are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 6 homes were sold in Richland; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
