Richfield Housing Market Update

by Dillon Kanitz-Reed

View of the Kettle Moraine landscape from Holy Hill in Washington County, Wisconsin. Photo by Michael Barera (CC BY-SA 4.0).

Richfield, Wisconsin – Washington County Real Estate Market

Market Activity

The Richfield housing market remained steady during this reporting period. However, transaction volume is naturally lower here than in larger nearby communities.

New Listings: 4
Properties Sold: 5

Because Richfield has a smaller housing supply, even a few listings or sales can noticeably affect the local statistics.

Home Prices

Home values in Richfield continue to reflect the area’s mix of larger homes, acreage properties, and rural surroundings.

Average List Price: $684,711
Median List Price: $687,500
Average Sales Price: $526,501
Median Sales Price: $430,000
Average Sales Price per Square Foot: $313

However, prices can vary widely from month to month. This is because homes in Richfield often differ in size, acreage, and custom features.

Market Pace

Homes in Richfield are still selling at a healthy pace. In fact, properties are moving faster than many buyers might expect.

Average Days on Market: 30 days
Sale-to-List Price Ratio: 101.5%

As a result, well-priced homes continue to attract strong buyer interest. In many cases, sellers are still receiving offers at or slightly above the asking price.

Inventory Conditions

Inventory remains limited in Richfield. Currently, only a small number of homes are available for buyers.

Properties for Sale: 8
Months of Supply: 1.6
Absorption Rate: 0.62

Typically, a balanced housing market has about four to six months of inventory. Because Richfield currently has much less supply, conditions still lean toward a seller-favored market.

Home Seller Insight

Lighting is one detail many sellers overlook when preparing their home for photos and showings. Yet lighting can have a big impact on how a home feels to buyers.

Before listing, consider replacing older bulbs with warm LED lighting. Also, open curtains to let in as much natural light as possible. Brighter spaces usually photograph better online and can make rooms feel larger during showings.

Curious About Local Home Values?

With inventory remaining limited in Richfield, some homeowners have been surprised by how much values have changed over the past few years.

If you’re curious about recent comparable sales or current pricing trends in the area, I’m always happy to share additional local market data.

This report summarizes the latest housing data and real estate trends in Richfield, Wisconsin to help buyers and sellers better understand current local housing market conditions.