Richfield, MN Foreclosures
How much do homes sell for in Richfield, MN?
The average home price is currently $356,868.
In Richfield, MN, how many homes are available?
There are currently 5 active home listings available in Richfield.
What’s the average rental cost in Richfield, MN?
The average rental price in Richfield is $1,563.
What is the most expensive home in Richfield?
The most expensive home sold in Richfield had a price of $27,570,812.
What is currently the cheapest priced home in Richfield, MN?
The cheapest home for sale in Richfield is priced at $80,472.
Living in Richfield, MN
Richfield, MN is an inviting suburb just south of Minneapolis known for its family-friendly atmosphere, numerous parks, and community events. With excellent schools and a variety of shopping and dining options, it offers both convenience and a strong sense of community. Its proximity to the Twin Cities ensures there's always something to do, making it an ideal place for families and young professionals alike.
Current Market Conditions in Richfield, MN
The real estate market in Richfield, MN has shown steady growth in recent years, with median home prices rising due to increased demand. The suburb's affordability relative to neighboring Minneapolis continues to attract buyers, particularly first-time homebuyers looking for a suburban lifestyle while working in the city. Properties here often sell quickly, indicating a competitive market with a healthy mix of single-family homes, townhouses, and duplexes.
With a low current inventory of homes available, buyers are facing challenges in finding the right property. However, the demand remains strong, particularly for well-maintained homes in desirable neighborhoods. Future projections suggest a continued upward trend in home values as more people seek to live in suburban areas like Richfield.
Home Value Estimator For Richfield, MN
There are currently 8,285 real estate properties
in Richfield, MN,
with a median automated valuation model (AVM) price
of $351,378.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Richfield, MN, based on current market
trends, comparable real
estate sales nearby, historical data and, of course, property features, among other
variables. These automated home estimates are often very helpful, providing buyers
and
sellers with a better idea of a home’s value ahead of the negotiation process. For
example,
the average home price in Richfield, MN,
is $356,868.00, with the most expensive house
in Richfield, MN, topping out
at $27,570,812.00 and the cheapest home
in Richfield, MN,
clocking in at $80,472.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Richfield, MN!
Rent Prices
In Richfield, MN
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Richfield, MN, is on
a rollercoaster ride. The
average rent price in Richfield, MN,
is $1,563.00. Indeed, when looking to rent in
Richfield, MN, you can expect to pay as little
as $1,160.00 or as much
as $3,120.00,
with the average rent median estimated to
be $1,570.00. The good news is that finding
an affordable and desirable property to rent in Richfield, MN
-- whether it’s apartments,
townhomes, condominiums or single-family homes -- is made easier with knowledge of
the
local market and, of course, a little patience.
Learn more on Foreclosure homes
