Richland Township Housing Market Report February 2025Montcalm County, Michigan

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Housing Prices in Richland Township, MI

How much do homes in Richland Township, MI cost?

Housing Market Conditions

Is Richland Township, MI a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Richland Township is a Seller's Market

Difference Since February 2024

Since last year, Richland Township has remained a Seller's Market.

Insight

Richland Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$337,500$166/SqFt
+$31,250
+10.2%

Based on all homes sold in the last 12 months

Insight

Homes in Richland Township have sold for 10.2% more than they did a year ago.

Summary: The median home sold price in Richland Township was $337,500 in February 2025, up 10.2% from last year, and the median price per square foot was $166.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Richland Township
+10.2%
Fremont Township
+2.7%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsFeb 2024Feb 2025Change YoY
1--
N/A
2$197K$280K
+42.1%
3$287.5K$307.3K
+6.9%
4$315.9K$369.5K
+16.9%
5$551K$560K
+1.6%

Summary: Richland Township housing price by bedroom type for February 2025, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes increased by +42.1%. The home price for 3 bedroom homes increased by +6.9%. The home price for 4 bedroom homes increased by +16.9%. The home price for 5 bedroom homes increased by +1.6%.

Housing supply in Richland Township, MI

How many homes are available in Richland Township, MI?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
52Last MonthFeb 2025
572 months agoJan 2025
-8.8 %
Change MoMJan – Feb

Summary: The Richland Township real estate market had 52 homes for sale in Feb 2025, a 8.8 % decrease compared to Jan 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
10Last MonthFeb 2025
112 months agoJan 2025
-9.1 %
Change MoMJan – Feb

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsJan 2025Feb 2025Change MoM
100
0.0%
2105
-50.0%
32020
0.0%
42322
-4.3%
545
+25.0%

Summary: Richland Township housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -50.0%. The inventory for 3 bedroom homes remained the same. The inventory for 4 bedroom homes decreased by -4.3%. The inventory for 5 bedroom homes increased by +25.0%.

Asking Price vs. Sold Price

How much do homes in Richland Township, MI cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price2 Homes

At Asking Price1 Home

Under Asking Price7 Homes

Insight

If you're buying a home in Richland Township, you may be able to get a good deal. 70% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in Richland Township in February 2025, down by 9.1% month-over-month. Of the 10 sold homes, 70% were sold under asking, 10% were sold at asking, and and 20% were sold over asking.

Days on Market for Richland Township, MI

How long does it take to sell a home in Richland Township, MI?

Breakdown of Home Sale Times

Under 30 Days7 Homes

30 – 90 Days1 Home

Over 90 Days2 Homes

Insight

Many homes in Richland Township are selling fast, if you're buying plan to act quickly.

Summary: During February 2025, 10 homes were sold in Richland Township; 70% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
36 DaysThis YearFeb 2025
77 Days1 year agoFeb 2024
-52.4 %
Change YoYFeb 2024 – Feb 2025

Summary: Homes in Richland Township had an average listing age of 36 days in Feb 2025, down by 52.4% compared to the previous year.

Newest Listings in Richland Township, MI

What homes are available in Richland Township, MI?

Nearby markets

Nearby markets aren't available for Richland Township, MI

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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/5/2025, 1:20:51 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/5/2025, 1:21:08 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.