Richfield Real Estate Market Report: February 2026
In February 2026, the median sale price in Richfield was $349,000, down 13.1% from a year earlier.
- Median Sales Price
- $349,000
- -13.1% vs. February 2025
- Homes for Sale
- 39
- -15.2% vs. February 2025
- Months Supply
- 1.2
- -14.3% vs. February 2025
- Seller's market
- Days on Market
- 40
- -23.1% vs. February 2025
- Closed Sales
- 21
- +31.3% vs. February 2025
- Percent of Original List Received
- 100.3%
- -1 pts vs. February 2025
What this means
The median sale price has decreased by 13% from last year to $349,000, and a similar trend in price per square foot suggests this is a real move in values rather than a change in the mix of homes selling.
Homes are selling 12 days more quickly than last year, averaging 40 days on market, and sellers are receiving 100.3% of their original asking price.
The area is currently a seller's market with 1.2 months of supply. Active inventory is down 15% from last year to 39 homes for sale.
In this seller's market, buyers should be prepared to act quickly, while sellers can generally expect strong interest if priced correctly.
Common questions about the Richfield market
Is Richfield a buyer's or seller's market?
Richfield was a seller's market in February 2026, with 1.2 months of supply. Under about 3 months generally favors sellers, 3 to 6 months is considered balanced, and over 6 months favors buyers. There were 39 homes for sale.
How fast are homes selling in Richfield?
Homes that sold in February 2026 spent an average of 40 days on market, 12 days faster than a year earlier. Sellers received 100.3% of their original list price on average.
Are home prices going up in Richfield?
No. The median sale price fell 13.1% year over year to $349,000. Price per square foot moved in the same direction (from $222 to $211), which suggests a real change in values rather than a shift in the mix of homes sold.
Market trends in Richfield
| Month | Median sale price | Closed sales | Days on market | Months supply |
|---|---|---|---|---|
| August 2024 | $375,925 | 36 | 29 | 2.1 |
| September 2024 | $373,000 | 41 | 20 | 1.8 |
| October 2024 | $370,000 | 37 | 32 | 1.6 |
| November 2024 | $341,000 | 31 | 64 | 1 |
| December 2024 | $350,000 | 33 | 35 | 0.9 |
| January 2025 | $336,500 | 8 | 30 | 1.1 |
| February 2025 | $401,500 | 16 | 52 | 1.4 |
| March 2025 | $371,200 | 28 | 74 | 1.3 |
| April 2025 | $387,000 | 35 | 20 | 1.6 |
| May 2025 | $371,000 | 47 | 33 | 1.7 |
| June 2025 | $375,650 | 40 | 28 | 1.5 |
| July 2025 | $335,000 | 43 | 30 | 1.4 |
| August 2025 | $365,000 | 35 | 22 | 1.7 |
| September 2025 | $339,000 | 32 | 32 | 2 |
| October 2025 | $385,000 | 33 | 32 | 2.4 |
| November 2025 | $344,500 | 30 | 34 | 2.2 |
| December 2025 | $350,000 | 23 | 39 | 1.3 |
| January 2026 | $327,750 | 26 | 52 | 1.6 |
| February 2026 | $349,000 | 21 | 40 | 1.2 |
How Richfield compares with the Twin Cities region
In February 2026, the median sale price in Twin Cities (16-County Region) was $380,000, essentially unchanged from a year earlier.
More to explore
Data: NorthstarMLS Local Market Update via 10K Research, published August 24, 2026.
Report published .
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