In May 2021, there were 14 homes sold, with a median sale price of $352,000 - a 28% increase over the $275,000 median sale price for the same period of the previous year. There were 41 homes sold in Richfield in May 2020.
The median sales tax in Richfield for the most recent year with available data, 2019, was $3,521, approximately 1% of the median home sale price for May 2021.
The following table compares Richfield to other Hennepin County cities with similar median sale prices in May 2021:
| City | May 2021 Home Sales | May 2020 Home Sales | % change (Total Home Sales) | May 2021 Median Sales Price | May 2020 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Plymouth | 25 | 66 | -62.1% | $420,000 | $363,750 | 15.5% |
| Minnetonka | 9 | 38 | -76.3% | $408,500 | $430,000 | -5% |
| Orono | 6 | 8 | -25% | $388,925 | $725,000 | -46.4% |
| Maple Grove | 19 | 76 | -75% | $383,000 | $330,000 | 16.1% |
| Maple Plain | 2 | 0 | - | $363,750 | $0 | - |
| Richfield | 14 | 41 | -65.9% | $352,000 | $275,000 | 28% |
| Bloomington | 24 | 51 | -52.9% | $343,000 | $289,900 | 18.3% |
| New Hope | 7 | 14 | -50% | $340,000 | $294,000 | 15.6% |
| Minneapolis | 137 | 344 | -60.2% | $340,000 | $300,250 | 13.2% |
| Loretto | 1 | 0 | - | $330,000 | $0 | - |
| Champlin | 7 | 19 | -63.2% | $324,500 | $291,500 | 11.3% |
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