Richfield, WI Real Estate

Richfield, Wisconsin provides a small suburban community on the outskirts of the city of Milwaukee. The village is nestled in the heart of the Kettle Moraine area. The village maintains five gorgeous lakes that offer year-round activities. More than 200 small and large commercial businesses have become established in Richfield. The village is in close proximity to the city of Milwaukee, but far enough away to enjoy country living. The location of the village provides easy access to southeastern Wisconsin communities via Highway 41 and 45. Populated by 3,875 people, Richfield offers an excellent place to reside.

To find homes for sale in Richfield, click here.

Real Estate
The Richfield housing marketing offers an array of homes for sale. Houses on the market include custom-built tri-level homes, Contemporaries with breath-taking views, three-bedroom Colonials and million dollar French Country masterpieces. Subdivisions have been developing around the village providing hundreds of acres of private open space with the lots. The average price of a home in the Richfield area is $248,450. The village has one of the lowest municipal tax rates in the Milwaukee area.

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The village maintains six community parks including Richfield Nature Park, Heritage Park and Glacier Hills County Park. Glacier Hills offers trails for hiking trails, cross-country skiing and volleyball and basketball courts. Richfield Nature Park has nature trails, bird watching and wildlife habitat within the acres of land. Local parks have playgrounds, tennis courts, basketball courts and baseball fields.

Golfers can enjoy 18-holes of golf at the Kettle Hills Golf Course. The course offers 45-holes among valleys, beautiful wooded terrain and rolling hills. The facility has three courses than can challenge golfers of every skill level. Arrowhead Springs Golf Course provides 9-holes, so golfers can practice their short-game.

Richfield maintains five beautiful lakes with scenic views. Lakes around the village include Friess Lake, Bark Lake and Amy Belle Lake. The lakes offer plenty of recreational opportunities such as fishing and swimming.

Richfield Days is an annual event showcasing music, games, rides and an excellent selection of food. A local softball tournament is held at the festival. The event schedules a fireworks display and parade during Richfield Days.

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Richfield recently became a village on February 13, 2008 with an overwhelming amount of residents encouraging the incorporation.

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Richfield properties for sale

Schools
Demographics

Population Demographics

  City County State
Total Population 3,864 136,991 5,852,878
Total Households 1,397 53,631 2,349,819
Total Families 1,154 38,586 1,516,725
Percent Male 50% 50% 50%
Percent Female 50% 50% 50%
White Collar Jobs 46% 55% 58%
Blue Collar Jobs 54% 45% 42%

Top Occupations

Professions Population Employed
Professional Services 328
Manufacturing 271
Transportation 250
Healthcare 246
Sales 181
Maintenance 164
Food 99
Construction 97
Management 94
Information, Scientific and Technical 59

Male Female Breakdown

Population Age

White vs Blue Collar Jobs

Top Professions

Work Transportation Method

Household Income

Housing Demographics

  City County State
Total Housing Units
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Owner Occupied Housing Units 1,278 42,120 1,601,729
Renter Occupied Housing Units 119 11,511 748,090
Vacant Housing Units 48 2,849 311,518
Occupancy Rate 97% 94% 84%

Commute Time To Work

2
  City County State
Less than 5 minutes 73 2,425 135,725
5 - 15 minutes 274 17,467 877,463
15 - 30 minutes 734 21,565 975,154
30 - 45 minutes 505 13,692 370,565
45-60 minutes 97 4,223 120,537
Over 60 minutes 86 2,240 113,603

Total Housing Units

Housing By Occupant

Commute Time To Work

Age of Homeowners

Education Attainment

  City County State
Some High School 88 3,847 224,571
High School Graduate 578 28,924 1,256,597
Some College 737 21,782 833,955
Associates Degree 276 10,558 410,260
Bachelors Degree 701 20,183 747,113
Graduate Degree 259 7,792 384,121

Education Attainment


Market Conditions
Market Conditions for Richfield - December 2019 | Shorewest Realtors®
December 2019

Market Conditions for Richfield

Median Sale Price Graph

Median Sale Price

The median sale price for homes in December was $304,100. The median sales price for homes in December fell by ($135,900) compared to last month. This represents a 30.88% decrease from November. Compared to the same month last year, the median price of homes fell by ($45,900) representing a -13.11% year-over-year change.

The median sales price is the middle value of all sales occurring in the market during the past thirty days when you arrange these sales prices from lowest to highest. This is a better indicator than the average as the median does not change as much as a result of a few unusually low or high sales prices.

Homes for Sale Graph

Homes for Sale

The inventory of homes for sale fell by 11 in December to 23. This represents 32.35% decrease from November when 34 homes were on the market. Compared to the same month last year when there were 21 homes for sale, the inventory of homes for sale has risen by 2 representing a 9.52% year-over-year change.

Homes for sale represents the number of active listings on the market during the specified month as reported in the MLS system operating within the market area.

Homes Sold Graph

Homes Sold

The 11 homes sold in December was 6 less than in November. This represents a 35.29% decrease in sales from November. Compared to the same month last year, the number of homes sold increased by 5, a 83.33% year-over-year increase.

Homes sold is the total count of properties in the market area that have had a closed sale during the specified month as reported in the MLS systems operating within the market area.

Average Days on Market Graph

Avg Days on Market

The average days on market for a home sold in December (43) decreased by 14 days compared to November. This represents a 24.56% decrease in days on market for homes in the market from the previous month. Compared to the same month last year, the days on market for homes sold did not change 0, a 0% year-over-year change.

Average Days on Market is the time period between the date when a home is listed for sale in an MLS system and the date it is sold.

Sale/List Price Ratio

Sale/List Price Ratio

The Sale/List Price Ratio of 94.95% in December fell by 0.72% compared to November and increased 9.92% compared to the same period last year.

Sale/List Price Ratio is the sale price of a listing divided by the original list price expressed as a percentage. The Sale/List Price Ratio for the market is determined by adding the Sale/List Price Ratio for each listing sold in the market during the month and dividing by the number of listings sold during the month.

New Homes Graph

New Homes

The number of homes listed in December (4) fell by 8 compared to November, a 66.66% change. Compared to December 2018, the number of new listings remained level

Newly Listed Homes are the total count of homes that have been listed within the market area during the most recent month, as reported in the MLS system(s) operating in the market area.

Median List Price Graph

Median List Price

The median list price in December was $314,950. The median list price for homes in December fell by ($7,500) compared to last month. This represents a 2.32% decrease from November. Compared to the same month last year, the median list price of homes decreased ($157,500) representing a -33.33% year-over-year decrease.

The median list price is the middle value of all currently active listings as reported in the MLS systems in the market area when you arrange these list prices from lowest to highest. This is a better indicator than the average as the median does not change as much as a result of the existence of a few unusually low or high list prices.




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