Richmond, MI Home Values & Market Trends
Real estate market trends reflect that there have been 123 transactions over the past year in Richmond. The median value for residential home transactions that occurred over the previous year is $317,692. The number of current listings in Richmond is 195, and the percentage of properties for sale in the city is 195.00%. Richmond, MI currently has 7 properties in foreclosure, 2 bank owned properties, 5 properties headed for auction, and 195 properties for sale.
Richmond, MI Real Estate Market Overview
| Zip | Median Est. Value |
|---|---|
| 48062 | $ 317,692 $ 200/sqft |
Housing Market Summary for Richmond, MI
| Sep 2025 | September 2026 | Change | |
|---|---|---|---|
| Median Listing Price | $302.5K | $300K | -0.83% |
| Median Sold Price | $297K | $292.7K | -1.44% |
| Homes For Sale | 134 | 194 | 44.78% |
| Homes Sold | 93 | 58 | -37.63% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
Explore recent offers and recently sold homes in Richmond, MI
Browse Homes in Richmond, MI
Richmond home values range from $45,789 to $1,781,665. The median estimated value of a home in Richmond is $317,692. The median list price of a home is 300,000, and the total count of properties in the city is 265.
- Pre-ForeclosurePre-foreclosure homes account for 0% of all residential properties in Richmond, MI with $[pre-foreclosures-highest-count-region] containing 0 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There is 1 zips within Richmond, MI; of that zips, the estimated home value for pre-foreclosure homes ranges from $0 in N/A to the lowest home value of $0 in $[pre-foreclosures-lowest-avm-region].
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Richmond, MI ranges from the highest value of $311,243 in 48062 to the lowest value of $244,900 in 48062. Bank owned homes and properties account for 0.75% of properties in Richmond, MI. There is 1 zips within Richmond, MI; 48062 containing 2 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions48062 has 5 auction properties, the highest number of properties going to auction in a single zip in the state of Richmond, MI. Auction homes and other auction properties account for 1.89% of all properties in Richmond, MI. There is 1 zips within Richmond, MI; of that zips, the median estimated home value for homes going to auction ranges from $496,736 in 48062 to the lowest value of $279,583 in 48062.
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Guide for Richmond, MI
Foreclosure is a term that can sometimes lead to confusion for those looking to make a real estate investment. In simple terms, it refers to the process where a lender takes possession of a property after the owner fails to keep up with their mortgage payments. When it comes to land, this means that buyers […]
Descubre todo lo que necesitas saber sobre cómo comprar una casa en ejecución hipotecaria.
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