Richfield Real Estate Market Report: July 2026
In July 2026, the median sale price in Richfield was $360,000, up 7.5% from a year earlier.
- Median Sales Price
- $360,000
- +7.5% vs. July 2025
- Homes for Sale
- 57
- +26.7% vs. July 2025
- Months Supply
- 1.7
- +21.4% vs. July 2025
- Seller's market
- Days on Market
- 40
- +33.3% vs. July 2025
- Closed Sales
- 54
- +25.6% vs. July 2025
- Percent of Original List Received
- 98.8%
- -2.3 pts vs. July 2025
What this means
The median sale price has increased by 7% from last year to $360,000, though an opposite trend in price per square foot suggests this change more likely reflects the mix of homes that sold.
Homes are selling 10 days longer than last year, averaging 40 days on market, and sellers are receiving 98.8% of their original asking price.
The area is currently a seller's market with 1.7 months of supply. Active inventory is up 27% from last year to 57 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 July 2026, with 1.7 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 57 homes for sale.
How fast are homes selling in Richfield?
Homes that sold in July 2026 spent an average of 40 days on market, 10 days slower than a year earlier. Sellers received 98.8% of their original list price on average.
Are home prices going up in Richfield?
Yes. The median sale price rose 7.5% year over year to $360,000. Price per square foot moved the other way (from $226 to $214), which suggests the change mostly reflects 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 |
| March 2026 | $356,000 | 33 | 44 | 1.3 |
| April 2026 | $351,500 | 28 | 92 | 1.9 |
| May 2026 | $355,000 | 37 | 25 | 2.3 |
| June 2026 | $389,450 | 46 | 31 | 2.3 |
| July 2026 | $360,000 | 54 | 40 | 1.7 |
How Richfield compares with the Twin Cities region
In July 2026, the median sale price in Twin Cities (16-County Region) was $408,000, up 3.3% from a year earlier.
More to explore
Data: NorthstarMLS Local Market Update via 10K Research, published August 24, 2026.
Report published .
Get the Richfield market report every month
We will email you the monthly numbers and what they mean for buyers and sellers.