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
$319,999
$204/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 $319,999 in April 2024, up 1.6% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $250K | $207K | -17.2% |
3 Bedrooms | $255K | $306.7K | +20.3% |
4 Bedrooms | $379K | $317.4K | -16.2% |
5+ Bedrooms | $653.7K | $560K | -14.3% |
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 17.2%, 3 bedroom homes increased by 20.3%, 4 bedroom homes decreased by 16.2%, and 5+ bedroom homes decreased by 14.3%.
Median Sold Price Compared To Nearby Cities
Fremont Township | $192K | $229.9K | +19.7% |
Richland Township | $315K | $319.9K | +1.6% |
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 |
---|---|---|
63 | 65 | +3.2% |
Summary: The Richland Township real estate market had 65 homes for sale in April 2024, a 3.2% 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 | 17 | 21 | +23.5% |
4 Bedrooms | 27 | 26 | -3.7% |
5+ Bedrooms | 10 | 10 | 0.0% |
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 23.5%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
12 | 18 | +50.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in Richland Township in April 2024, up by 50.0% month-over-month. Of the 18 sold homes, 44% were sold under asking, 33% were sold at asking, and 22% 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 | 71 Days | +696.3% |
Summary: Homes in Richland Township had an average of 71 days on market in Apr 2024, up by 696.3% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 18 homes were sold in Richland Township; 28% of homes were sold within 30 days, 56% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.