Is Richville, MN 56576 a buyer’s or seller’s market?

The Richville housing market right now

In the three months ending August 31, 2026, 13% of homes in Richville, MN 56576 sold above their list price, the typical home went under contract in 80 days and there were 2.8 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 8 sales, these figures can swing a lot from month to month.

Compared with the same period a year earlier, the share selling over asking rose from 9%, homes sold more slowly (39 days then) and the median sale price fell 15% to $241,396. Overall, Richville is less competitive than a year ago, which gives buyers more room.

Within Otter Tail County, homes here sell more slowly than in 89% of the county’s ZIP codes, and sell less often over asking than in 56%.

Nearby, buyers who want less competition could look at Vergas 56587 (0% sold over asking) or Erhard 56534 (0% sold over asking), while Deer Creek 56527 (50% sold over asking) and New York Mills 56567 (38% sold over asking) are even more competitive.