Richfield Real Estate Market Report: August 2024
In August 2024, the median sale price in Richfield was $375,925.
- Median Sales Price
- $375,925
- No prior comparison
- Homes for Sale
- 67
- No prior comparison
- Months Supply
- 2.1
- No prior comparison
- Seller's market
- Days on Market
- 29
- No prior comparison
- Closed Sales
- 36
- No prior comparison
- Percent of Original List Received
- 101.2%
- No prior comparison
What this means
The median sale price is currently $375,925.
Homes are averaging 29 days on market, and sellers are receiving 101.2% of their original asking price.
The area is currently a seller's market with 2.1 months of supply. There are currently 67 homes for sale.
In this seller's market, buyers should be prepared to act quickly, while sellers can generally expect strong interest if priced correctly.
Common questions about the Richfield market
Is Richfield a buyer's or seller's market?
Richfield was a seller's market in August 2024, with 2.1 months of supply. Under about 3 months generally favors sellers, 3 to 6 months is considered balanced, and over 6 months favors buyers. There were 67 homes for sale.
How fast are homes selling in Richfield?
Homes that sold in August 2024 spent an average of 29 days on market. Sellers received 101.2% of their original list price on average.
Market trends in Richfield
| Month | Median sale price | Closed sales | Days on market | Months supply |
|---|---|---|---|---|
| August 2024 | $375,925 | 36 | 29 | 2.1 |
How Richfield compares with the Twin Cities region
In August 2024, the median sale price in Twin Cities (16-County Region) was $389,000.
More to explore
Data: NorthstarMLS Local Market Update via 10K Research, published August 24, 2026.
Report published .
Get the Richfield market report every month
We will email you the monthly numbers and what they mean for buyers and sellers.