Richfield, MN Foreclosures
How much do homes sell for in Richfield, MN?
The average home price is currently $356,965.
In Richfield, MN, how many homes are available?
There are currently 10 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 $28,281,946.
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, Minnesota, offers the ideal blend of suburban tranquility and urban accessibility, making it a rising star in the Twin Cities metro area. A welcoming community with excellent schools, beautiful parks, and diverse dining options, Richfield is perfect for families and young professionals alike. Its close proximity to Minneapolis provides easy access to employment hubs, cultural attractions, and entertainment, enhancing the living experience in this charming suburb.
Current Market Conditions in Richfield, MN
The real estate market in Richfield is currently competitive, with demand outpacing supply. Homes are selling quickly, often above asking price, due to low inventory in the market. First-time buyers, in particular, are finding it challenging to secure properties, making bidding wars common. This trend has contributed to rising home prices, which are expected to continue in the coming months as demand remains strong.
In the past few months, the market has seen an increase in home renovations and upgrades as homeowners look to enhance their properties and increase value. Additionally, the influx of new developments and a focus on sustainability have made Richfield an appealing choice for eco-conscious buyers.
Home Value Estimator For Richfield, MN
There are currently 8,311 real estate properties
in Richfield, MN,
with a median automated valuation model (AVM) price
of $351,395.00. 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 $356,965.00, with the most expensive house
in Richfield, MN, topping out
at $28,281,946.00 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
