The city of Richfield is located in Hennepin County, is an inner ring suburb of Minneapolis. Best Buy, the U.S.’s largest electronics retailer has its headquarters in Richfield. The population is about 35,228.
From May of 2015 to May of 2016 this is the most up to date information on what is happening in the Richfield Real Estate Market. Statistics offered by the Minneapolis Area Association of Realtors.
| 2015 | 2016 | +/- | |
| New Listings | 264 | 278 | +5.3% |
| Closed Sales | 207 | 215 | +3.9% |
| Median Sales Price | $196,900 | $217,500 | +10.5% |
| Days on the market | 62 | 54 | -12.9% |
| Months Supply of Inventory | 1.8 | 1.2 | -33.3% |
What this means for you if you’re selling your home:
It’s a very good time to sell your home if you live in Richfield!
- We prepare about 50 real estate market updates and Richfield has one of the most significant shortages of homes on the market in the metro area. Most suburbs are holding with about 3-4 months of inventory while Richfield has only 1.2 months. That means it is a very strong sellers market with very little competition if you’re selling your home.
- The median sales price is up 10.5%. Truly good news if you’re going to be selling your home in the next couple of months. What are you waiting for!?!
- If you have the opportunity to get in the market now, it would be advantageous for you to do so!
See more Statistics on Richfield Real Estate Here
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