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Featured local agent — Richmond, IL
Sarah Mitchell
Compass Real Estate · Richmond, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Richmond, IL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$159,613median sale price
How is the Richmond, IL housing market right now?
The median home sale price in Richmond, IL is $159,613, up 29.8% year-over-year. Homes sell in an average of 55 days with 5 active listings. The market is currently a seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Richmond a buyer's or seller's market?
Richmond, IL is currently a seller's market, based on 0.8 months of supply and homes selling in about 55 days. How we determine this →
Homes sold
6
Last 12 weeks
Days on market
55
Average pace
Active listings
5
0.8 months supply
Sale-to-list
100.5%
Above asking
What does the Richmond housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $159,613 |
| Median list price | $257,450 |
| Year-over-year price change | +29.8% |
| Average days on market | 55 days |
| Active inventory | 5 listings |
| Months of supply | 0.8 months |
| Sale-to-list price ratio | 100.5% |
| Median price per sq ft | $175/sq ft |
| Homes sold (latest month) | 6 |
| New listings (latest month) | 2 |
| Listings with a price cut | 60.0% |
| Market condition | Seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Richmond by property type?
How the Richmond, IL market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $270,500 | $271/sq ft | 2 | 55 days |
| Condo / Co-op | $141,750 | $175/sq ft | 4 | 46 days |
Source: Redfin · Updated monthly
The Richmond housing market is currently classified as a seller's market with a median sale price of $159,613. Prices have risen 29.8% compared to last year, with homes spending an average of 55 days on market, indicating 0.8 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 5.5x provides context for how home values compare to local earning capacity.
Market trends
Homes for sale in Richmond
There are currently 5 homes listed for sale in Richmond, Illinois. The median listing price is $257K.
Active listings
5
Homes on market
Median list price
$257K
Avg. days on market
55
Days until sale
New this week
2
Newly listed
Who lives in Richmond?
Population
2,530
Median income
$70,379/yr
Median age
36.6 years
Owner-occupied
55.4%
College grads
26.3%
Avg commute
31.6 min
Source: U.S. Census Bureau ACS
What are homes worth in Richmond?
Zillow home value
$384,368
Price-to-income
5.5x
Source: Zillow Research
What is it like to live in Richmond?
Richmond is a community of approximately 3K residents with a median age of 36.6 years.The median household income is $70,379, which represents a working-class community with solid middle-income opportunities. 26.3% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 55.4%, showing a blend of owner and renter-occupied properties. The average commute time is 31.6 minutes, which suggests a more suburban or rural location for those willing to commute longer distances.Overall, Richmond offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Richmond?
3 schools tracked · 1,335 students
The largest public schools serving Richmond, IL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Richmond-Burton High School
Grades 9-12 · 534 students
Richmond Grade School
Grades PK-5 · 404 students
Nippersink Middle School
Grades 6-8 · 397 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Richmond, IL?
Want a head-to-head view? Compare Richmond side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Richmond?
The median home sale price in Richmond is $159,613, up 29.8% from last year.
How long do homes stay on market in Richmond?
Homes typically spend 55 days on market before going under contract.
What is the median income in Richmond?
The median household income is $70,379 per year.
Is Richmond a buyer's or seller's market?
With 0.8 months of supply, Richmond is currently a seller's market.
What is the Zillow home value estimate for Richmond?
The Zillow Home Value Index (ZHVI) for Richmond is $384,368, representing the typical home value in the area.
What is the median condo price in Richmond?
The median condo/co-op sale price in Richmond, IL is $141,750, compared to $270,500 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Richmond?
The median single-family home price in Richmond, IL is $270,500 (about $271 per square foot).
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