Home Prices in Richfield MN 55423 for February 2016

Home Prices in Richfield 55423 in February 2016

Home Prices in Richfield MN 55423 for February 2016

Real estate market data for Richfield MN 55423 provided by Marzena M. Melby of Coldwell Banker Burnet Realty.

Richfield MN Home Prices

We have seen flactualtions in home prices in Richfield MN 55423 during 2015, but they were mostly increasing due to shortage of inventory. At this point, the real estate market in Richfield MN 55423 is fast and do not expect it to slow down anytime soon. If you are considering buying a home,

be prepared for a lot of competition. Having a good real estate agent who understands the market is a must. Don’t wait on the sidelines for too long, many of our listings are selling within a few days of hitting the market. As you can see from the graph below, listings are selling at or higher than the asking price. You'll want to have an agent that does a thorough market analysis of the Richfield home on which you are making an offer.

If you are interested in how much current inventory is on the market in Richfield you can find that information by clicking on the link. Low inventory suggests that homes are selling fast. I expect home prices to continue to rise as we continue towards spring market. 

Understand the difference between "listing prices" (what sellers are asking for) and "sold prices" (what buyers are willing to pay).

By comparing these price trends, you'll have a good idea of where the market is heading. The median listing and sold property prices are calculated based on the market activity each month.

Home Prices in Richfield MN 55423 for February 2016

Richfield MN Real Estate Report Summary

32 new listing came on the market, for a total of 48 active listings, a drop of 49% from a year ago.

The median list price for single family homes in Richfield MN 55423 is $222,400, a 15% increase from a year ago.

The median price per square foot for listings in this area is $119, an increase of 11% over last year.

Find Homes for Sale in Richfield MN

Visit my website to search for homes in Minneapolis MN or to be notified when Minneapolis homes come on the market.

To find out what you home is worth in the current market email me or call 612-267-6798.

Contact Marzena M. Melby, REALTOR®, GRI, e-PRO, 

 Visit my website to search homes for sale in the Twin Cities and surrounding areas.

Disclaimer: The information provided herein is supplied by several sources and is subject to change without notice. Twin Cities Homes 4 Sale Blog does not guarantee, or is any way responsible for its accuracy, and provides said information without warranties of any kind, either express or implied. Entries on Twin Cities Homes 4 Sale Blog represent the opinions and ideas of the author. Twin Cities Homes 4 Sale Blog does not express the views of Coldwell Banker Burnet Realty, or its other partners or agents.