Richwood Housing Market Report April 2025•Shelby County, Tennessee

hero building illustration for mobile

Housing Prices in Richwood, TN

How much do homes in Richwood, TN cost?

Housing Market Conditions

Is Richwood, TN 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

Richwood is a Neutral Market

Difference Since March 2025

Last month, Richwood has remained a Neutral Market.

Insight

Richwood is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

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.
$250,000–
-$37,450
-13.0%

Based on all homes sold in April 2025

Insight

Homes in Richwood have sold for 13% less than they did a month ago.

Summary: The median home sold price in Richwood was $250,000 in April 2025, down 13% from last month, and the median price per square foot was $0.

Median Sold Price By Neighborhoods

Median Sold Price By Neighborhoods
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 MoM
Windyke Area
+82.0%
Roseleigh
-7.1%
Richwood
-13.0%

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.
BedsMar 2025Apr 2025Change MoM
1--
N/A
2--
N/A
3$262.5K$245K
-6.7%
4$304.9K-
N/A
5-$305K
N/A

Summary: Richwood housing price by bedroom type for April 2025, compared to the previous month. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes did not change. The home price for 3 bedroom homes decreased by -6.7%. The home price for 4 bedroom homes did not change. The home price for 5 bedroom homes did not change.

How does Richwood, TN compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Richwood, TN

Housing supply in Richwood, TN

How many homes are available in Richwood, TN?

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
42Last MonthApr 2025
362 months agoMar 2025
+16.7 %
Change MoMMar – Apr

Summary: The Richwood real estate market had 42 homes for sale in Apr 2025, a 16.7 % increase compared to Mar 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
7Last MonthApr 2025
62 months agoMar 2025
+16.7 %
Change MoMMar – Apr

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.
BedsMar 2025Apr 2025Change MoM
100
0.0%
201
+100.0%
32326
+13.0%
41011
+10.0%
534
+33.3%

Summary: Richwood housing inventory by bedroom type for April 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes increased by +100.0%. The inventory for 3 bedroom homes increased by +13.0%. The inventory for 4 bedroom homes increased by +10.0%. The inventory for 5 bedroom homes increased by +33.3%.

Asking Price vs. Sold Price

How much do homes in Richwood, TN 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 Price3 Homes

Under Asking Price2 Homes

Insight

If you're buying a home in Richwood, expect to pay close to the asking price. 42.9% of homes here sold near the asking price last month.

Summary: A total of 7 homes were sold or pending in Richwood in April 2025, up by 16.7% month-over-month. Of the 7 sold homes, 29% were sold under asking, 43% were sold at asking, and and 29% were sold over asking.

Days on Market for Richwood, TN

We’re sorry, we don't have information for this market at the moment.

Home sale times aren’t available for this area.

Connect With An Agent

Local real estate agents are ready to help you find a home here

Sell My Home

Sell your home with an expert or get the job done on your own.

Get Approved

Get a customizable mortgage solution based on today's rates.

Newest Listings in Richwood, TN

What homes are available in Richwood, TN?

See More Listings

Nearby markets

Nearby markets aren't available for Richwood, TN

Popular Cities with Homes for Sale in Tennessee

MLS Disclaimers and Copyright

Based on information from Memphis MLS, for the period 03/01/2025 - 05/01/2025

Copyright© 2025 Memphis Area Association of REALTORS. The information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties that the consumer may be interested in purchasing. Information deemed reliable, but is not guaranteed accurate. Some or all of the listings displayed may not belong to the firm whose web site is being visited.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 5/16/2025, 3:20:30 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.