Richfield Leads Local Residential Real Estate Market

In a year when homes across the region are sold seemingly overnight, Richfield is leading the Twin Cities residential real estate market.

The Star Tribune reported that first ring suburbs, including Richfield, have seen a plethora of inexpensive houses sell like hot cakes.

"If it’s priced right and in good shape, it’s gone," he said.

Richfield's price and proximity to downtown Minneapolis are big factors in why houses in the area are flying off the market.

"Everybody wants to be in Wayzata, Edina or Minnetonka, but when you show them what kind of houses you get for the money, it’s not for the faint of heart," said Michael Bartus, a sales agent with Lakes Sotheby’s International Realty.

"They end up saying 'We have to adjust our expectations.'"

Image: American Advisors Group via Flickr /Creative Commons