Richmond, MI Foreclosures
How much do homes sell for in Richmond, MI?
The average home price is currently $326,234.
In Richmond, MI, how many homes are available?
There are currently 1 active home listings available in Richmond.
What’s the average rental cost in Richmond, MI?
The average rental price in Richmond is $1,432.
What is the most expensive home in Richmond?
The most expensive home sold in Richmond had a price of $1,980,669.
What is currently the cheapest priced home in Richmond, MI?
The cheapest home for sale in Richmond is priced at $15,669.
Living in Richmond, MI
Richmond, MI is a charming small town with a friendly community, ideal for families and retirees. It offers great amenities, educational options, and outdoor activities near Lake St. Clair. With annual events and a picturesque ambiance, Richmond is a welcoming place to call home.
Current Market Conditions in Richmond, MI
The real estate market in Richmond, MI, has shown a steady increase over the past year, with many homebuyers drawn by the town's affordability and quality of life. Properties within the city are moving quickly, with a noticeable demand for single-family homes especially among young families and retirees. As more people discover Richmond, the market is expected to remain competitive, making it a fantastic opportunity for real estate investments.
Inventory levels in Richmond have slightly decreased, leading to a rise in home prices. This is indicative of a healthy market where supply cannot keep up with buyer demand. New construction projects and renovations of existing homes are becoming common, further contributing to the changing landscape of Richmond's housing market.
Home Value Estimator For Richmond, MI
There are currently 3,798 real estate properties
in Richmond, MI,
with a median automated valuation model (AVM) price
of $299,763.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Richmond, MI, 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 Richmond, MI,
is $326,234.00, with the most expensive house
in Richmond, MI, topping out
at $1,980,669.00 and the cheapest home
in Richmond, MI,
clocking in at $15,669.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Richmond, MI!
Rent Prices
In Richmond, MI
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Richmond, MI, is on
a rollercoaster ride. The
average rent price in Richmond, MI,
is $1,432.00. Indeed, when looking to rent in
Richmond, MI, you can expect to pay as little
as $510.00 or as much
as $2,460.00,
with the average rent median estimated to
be $1,420.00. The good news is that finding
an affordable and desirable property to rent in Richmond, MI
-- 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.
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