From January through March of 2021, there were 55 homes sold, with a median sale price of $308,000 - a 11.8% increase over the $275,500 median sale price for the same period of the previous year. There were 75 homes sold in Richfield in the first quarter of 2020.
The median sales tax in Richfield for the most recent year with available data, 2019, was $3,521, approximately 1.1% of the median home sale price for the first quarter of 2021.
The following table compares Richfield to other Hennepin County cities with similar median sale prices in the first quarter of 2021:
| City | Jan. - Mar. 2021 Home Sales | Jan. - Mar. 2020 Home Sales | % change (Total Home Sales) | Jan. - Mar. 2021 Median Sales Price | Jan. - Mar. 2020 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Hanover | 1 | 4 | -75% | $373,090 | $403,633.34 | -7.6% |
| Woodland | 1 | 0 | - | $350,000 | $0 | - |
| St. Louis Park | 76 | 134 | -43.3% | $346,250 | $310,000 | 11.7% |
| Maple Grove | 83 | 209 | -60.3% | $345,000 | $329,000 | 4.9% |
| Minneapolis | 673 | 895 | -24.8% | $308,000 | $280,000 | 10% |
| Richfield | 55 | 75 | -26.7% | $308,000 | $275,500 | 11.8% |
| Bloomington | 105 | 155 | -32.3% | $305,000 | $305,000 | 0% |
| New Hope | 35 | 42 | -16.7% | $299,000 | $253,750 | 17.8% |
| Long Lake | 3 | 7 | -57.1% | $299,000 | $292,000 | 2.4% |
| Champlin | 24 | 60 | -60% | $291,000 | $268,950 | 8.2% |
| Brooklyn Park | 116 | 199 | -41.7% | $290,000 | $255,000 | 13.7% |
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