Brokers — List your Company Here
Featured local agent — Richfield, MN
Sarah Mitchell
Compass Real Estate · Richfield, MN
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
This spot is open. Be the only brokerage featured on this page — one slot, no auction.
Claim this spot* Example only — dummy agent for illustration. Your logo, name, tagline, link, and lead routing replace this content.
Richfield, MN Housing Market & Real Estate
Housing market overview · Updated monthly ·
$355,000median sale price
How is the Richfield, MN housing market right now?
The median home sale price in Richfield, MN is $355,000, down 4.3% year-over-year. Homes sell in an average of 14 days with 68 active listings. The market is currently a strong seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Richfield a buyer's or seller's market?
Richfield, MN is currently a strong seller's market, based on 1.8 months of supply and homes selling in about 14 days. How we determine this →
Homes sold
37
Last 12 weeks
Days on market
14
Fast-moving
Active listings
68
1.8 months supply
Sale-to-list
102.1%
Above asking
What does the Richfield housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $355,000 |
| Median list price | $359,900 |
| Year-over-year price change | -4.3% |
| Average days on market | 14 days |
| Active inventory | 68 listings |
| Months of supply | 1.8 months |
| Sale-to-list price ratio | 102.1% |
| Median price per sq ft | $219/sq ft |
| Homes sold (latest month) | 37 |
| New listings (latest month) | 57 |
| Listings with a price cut | 35.3% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Richfield by property type?
How the Richfield, MN market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $375,000 | $219/sq ft | 35 | 12 days |
| Condo / Co-op | $184,950 | $169/sq ft | 2 | 156 days |
| Townhouse | $330,000 | $196/sq ft | 1 | 9 days |
Source: Redfin · Updated monthly
The Richfield housing market is currently classified as a strong seller's market with a median sale price of $355,000. Prices have fallen 4.3% compared to last year, with homes spending an average of 14 days on market, indicating 1.8 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 4.2x provides context for how home values compare to local earning capacity.
Homes for sale in Richfield
There are currently 68 homes listed for sale in Richfield, Minnesota. The median listing price is $360K.
Active listings
68
Homes on market
Median list price
$360K
Avg. days on market
14
Days until sale
New this week
57
Newly listed
Who lives in Richfield?
Population
36,725
Median income
$84,055/yr
Median age
38.9 years
Owner-occupied
62.4%
College grads
44.3%
Avg commute
23.2 min
Source: U.S. Census Bureau ACS
What are homes worth in Richfield?
Zillow home value
$354,994
Zillow rent index
$1,318/mo
Price-to-rent ratio
22.4x
Price-to-income
4.2x
Source: Zillow Research
What is it like to live in Richfield?
Richfield is a community of approximately 37K residents with a median age of 38.9 years.The median household income is $84,055, which reflects a relatively affluent area with strong earning potential. 44.3% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 62.4%, showing a blend of owner and renter-occupied properties. The average commute time is 23.2 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Richfield offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Richfield?
22 schools tracked · 5,730 students
The largest public schools serving Richfield, MN by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
RICHFIELD SENIOR HIGH
Grades 9-12 · 1,235 students
RICHFIELD MIDDLE
Grades 6-8 · 788 students
RICHFIELD STEM SCHOOL
Grades PK-5 · 554 students
PARTNERSHIP ACADEMY INC.
Grades PK-8 · 530 students
RICHFIELD DUAL LANGUAGE SCHOOL
Grades PK-5 · 507 students
SHERIDAN HILLS ELEMENTARY
Grades PK-5 · 428 students
SciTech Academy Charter School
Grades K-8 · 330 students
Seven Hills - Richfield Middle
Grades 6-8 · 302 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Richfield, MN?
Want a head-to-head view? Compare Richfield side-by-side with any other U.S. city using our market-comparison tool.
Is Richfield a good real estate investment market?
For investors evaluating Richfield, the price-to-rent ratio of 22.4x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has softened 4.3% year-over-year, potentially creating entry opportunities for strategic buyers.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Richfield's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Richfield's median home price.
Frequently asked questions
What is the average home price in Richfield?
The median home sale price in Richfield is $355,000, down 4.3% from last year.
How long do homes stay on market in Richfield?
Homes typically spend 14 days on market before going under contract.
What is the median income in Richfield?
The median household income is $84,055 per year.
Is Richfield a buyer's or seller's market?
With 1.8 months of supply, Richfield is currently a strong seller's market.
What is the Zillow home value estimate for Richfield?
The Zillow Home Value Index (ZHVI) for Richfield is $354,994, representing the typical home value in the area.
What is the median condo price in Richfield?
The median condo/co-op sale price in Richfield, MN is $184,950, compared to $375,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Richfield?
The median single-family home price in Richfield, MN is $375,000 (about $219 per square foot).
Be the brokerage on this page
1 slot per pageGet featured on Richfield, MN
Your logo, brokerage name, and direct link to your site — featured at the top of this page in front of every visitor researching this whole city. One brokerage, no rotation, no bidding war.
- Goes live in 24 hours
- Cancel anytime
- Do-follow backlink to your site
Get Richfield market alerts
Weekly updates on prices, inventory, and trends. Free forever.