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
  District Type Enrollment # Student Teacher Ratio GreatSchool Rank
Addison Elementary School (Hartford) Slinger School District public 443 Not Provided Addison Elementary School GreatSchools Rating
Allenton Elementary School (Allenton) Slinger School District public 364 Not Provided Allenton Elementary School GreatSchools Rating
Amy Belle Elementary School (Colgate) Germantown School District public 381 Not Provided Amy Belle Elementary School GreatSchools Rating
County Line Elementary School (Germantown) Germantown School District public 511 Not Provided County Line Elementary School GreatSchools Rating
Macarthur Elementary School (Germantown) Germantown School District public 396 Not Provided Macarthur Elementary School GreatSchools Rating
Rockfield Elementary School (Richfield) Germantown School District public 342 Not Provided Rockfield Elementary School GreatSchools Rating
Slinger Elementary School (Slinger) Slinger School District public 612 Not Provided Slinger Elementary School GreatSchools Rating
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  District Type Enrollment # Student Teacher Ratio GreatSchool Rank
Kennedy Middle School (Germantown) Germantown School District public 895 Not Provided Kennedy Middle School GreatSchools Rating
Richfield Elementary School (Richfield) Richfield J1 School District public 246 Not Provided Richfield Elementary School GreatSchools Rating
Slinger Middle School (Slinger) Slinger School District public 694 Not Provided Slinger Middle School GreatSchools Rating
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  District Type Enrollment # Student Teacher Ratio GreatSchool Rank
Germantown High School (Germantown) Germantown School District public 1408 Not Provided Germantown High School GreatSchools Rating
Slinger High School (Slinger) Slinger School District public 972 Not Provided Slinger High School GreatSchools Rating
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Demographics

Population Demographics

  City County State
Total Population 3,500 132,133 5,687,217
Total Households 1,181 51,913 2,286,339
Total Families 1,047 37,826 1,476,860
Population Density 158 3,491 437,888
Percent Male 51% 49% 50%
Percent Female 49% 51% 50%
White Collar Jobs 78% 64% 55%
Blue Collar Jobs 22% 36% 45%

Top Occupations

Professions Population Employed
Healthcare 449
Management 433
Manufacturing 398
Retail 377
Information, Scientific and Technical 338
Sales 299
Transportation 202
Education 182
Construction 156
Professional Services 142

Male Female Breakdown

Population Age

White vs Blue Collar Jobs

Top Professions

Work Transportation Method

Household Income with Head of House hold under age of 25

Household Income with Head of House Hold between the ages of 25 and 44

Household Income with Head of House Hold between the ages of 45 and 64

Household Income with Head of Household over the age of 65

Housing Demographics

  City County State
Total Housing Units 1,279 54,754 2,620,437
Owner Occupied Housing Units 1,132 40,510 1,568,389
Renter Occupied Housing Units 50 11,406 717,965
Vacant Housing Units 96 2,851 334,086
Occupancy Rate 92% 95% 87%
Vehicles Per Housing Unit 2 23 1,560

Commute Time To Work

  City County State
Less than 5 minutes 63 2,695 128,186
5 - 14 minutes 470 8,356 374,881
15 - 29 minutes 693 8,730 444,428
30 - 44 minutes 493 9,175 288,319
45-59 minutes 118 5,189 143,851
Over 60 minutes 59 2,088 80,649

Total Housing Units

Housing By Occupant

Commute Time To Work

Monthly Rental Rates

Monthly Mortgage Costs

Age of Homeowners

Education Attainment

  City County State
Some High School 160 6,961 374,133
High School Graduate 520 28,827 1,258,952
Some College 406 20,703 808,107
Associates Degree 210 9,531 355,880
Bachelors Degree 705 17,451 663,912
Graduate Degree 291 6,070 242,761

Education Attainment


Market Conditions

Market Conditions for Richfield

August 2017

Median Sale Price
$335,250

 UP 10.29%
vs. Month Ago
Homes for Sale
73

 UP 2.81%
vs. Month Ago
Homes Sold
14

 UP 16.66%
vs. Month Ago
Avg Days on Market
37

 DOWN -5.12%
vs. Month Ago

Median Sale Price

The median sale price for homes in August was $335,250. The median sales price for homes in August rose by $31,300 compared to last month. This represents a 10.29% increase from July. Compared to the same month last year, the median price of homes rose by $50,250 representing a 17.63% 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

The inventory of homes for sale rose by 2 in August to 73. This represents 2.81% increase from July when 71 homes were on the market. Compared to the same month last year when there were 69 homes for sale, the inventory of homes for sale has risen by 4 representing a 5.79% 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

The inventory of homes for sale rose by 2 in August to 73. This represents 2.81% increase from July when 71 homes were on the market. Compared to the same month last year when there were 69 homes for sale, the inventory of homes for sale has risen by 4 representing a 5.79% 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.

Avg Days on Market

The average days on market for a home sold in August (37) decreased by 2 days compared to July. This represents a 5.12% 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 decreased by 23, a -38.33% 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

The Sale/List Price Ratio of 97.67% in August rose by 0.94% compared to July and increased 4.04% 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

The number of homes listed in August (22) fell by 2 compared to July, a 8.33% change. Compared to August 2016, the number of new listings increased by 3, a 15.78% year-over-year change.

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 Homes

The median list price in August was $346,950. The median list price for homes in August fell by ($72,500) compared to last month. This represents a 17.28% decrease from July. Compared to the same month last year, the median list price of homes decreased ($13,050) representing a -3.62% 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.




Rates and fees are subject to adjustments based on your credit score and the loan-to-value ratio. Rates and fees are also subject to change without notice. Other rates and loan programs are available.
All applications are subject to current underwriting guidelines and credit approval. EHL NMLS#280412

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