Why Live in Richfield
Richfield, known as "The Urban Hometown," is an inner-ring suburb adjacent to the Minneapolis–Saint Paul International Airport and the Mall of America. This neighborhood, with a population of nearly 40,000, features single-family homes on gridded streets, primarily built in the '50s and '60s, including bungalows and ranch-style houses. Richfield is surrounded by major thoroughfares, making it highly accessible for work and travel within the metro area. The neighborhood offers a small-town atmosphere with big-city amenities, including fine dining, retail shopping, and various attractions. Local highlights include Veterans Park, which features hiking and biking paths, a memorial for veterans, swimming pools, mini golf, and a year-round ice rink. The Wood Lake Nature Center provides walking trails and wildlife spotting opportunities, and it is an educational resource for local schools. Richfield's dining scene includes notable spots like Giordano's for deep-dish pizza and Patrick's Bakery & Café. Shopping options range from local grocery stores like Lakewinds Food Co-op to big-box retailers along Interstate 494 and the nearby Mall of America. The neighborhood is served by several bus routes, facilitating easy transit. While homes in Richfield sell quickly, often within 21 days, potential buyers should be aware of possible noise levels near the airport. Richfield also hosts a farmers market and community events at the Augsburg Park Library, fostering a close-knit community feel.
Home Trends in Richfield, MN
On average, homes in Richfield, MN sell after 29 days on the market compared to the national average of 50 days. The median sale price for homes in Richfield, MN over the last 12 months is $370,000, up 8% from the median home sale price over the previous 12 months.
Median Sale Price
$370,000
Median Single Family Sale Price
$375,000
Median Townhouse Sale Price
$429,900
Average Price Per Sq Ft
$214
Number of Homes for Sale
41
Last 12 months Home Sales
376
Median List Price
$369,900
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
8%