Lucein Boneparte Covell House · Photo: IvoShandor · CC BY-SA 3.037 homes sold in Richmond in the last year, at a typical $252K
About one sale in 3 is a condo. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Richmond homes are listed.
Every place Richmond homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Richmond.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
38% of Richmond’s sales are condos, at $206K less than a house
23 houses and 14 condos sold in the year to May 2026. Condos sell faster.
typical sale · 23 sold in 12 months
- Per square foot
- $183IL $180
- Days to sell
- 71
- Sold over asking
- 39%
- Listings with a price cut
- 30%
typical sale · 14 sold in 12 months
- Per square foot
- $172IL $251
- Days to sell
- 43
- Sold over asking
- 43%
- Listings with a price cut
- 60%
About as many homes sell as usual, at 1.7 times the 2016 price
37 sales in the last year, against 51 in 2020 and a low of 22 in 2012. The typical sale went from $152K in 2016 to $252K.
Source: Redfin Data Center, MLS sales. Typical price and $/sq ft are the monthly medians, weighted by sales.
What $250K buys in Richmond
Check a listing against what Richmond homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Richmond are more common than before the pandemic, but two thirds fewer homes come up for sale
We read every month of Richmond’s home sales since 2012 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to May 2026, 37 sales.
If you’re buying in Richmond
- Shop in September. It brings about 5 new listings a month, close to the busiest month, with fewer bidding wars (15% over asking).
- You can negotiate. 33% of listings have cut their price, against 23% before the pandemic.
- Bid near asking. Buyers paid 100.8% of the list price on average; 41% paid over.
- Move fast on good ones. Half of homes are under contract within two weeks.
Spring brings the homes; summer brings the bidding wars
April has the most new listings (about 6 a month), but June is the most competitive: 25% of June sales close over asking. September offers nearly as much choice with fewer homes bid up (15%). November has the least competition (10%) but only about 3 new listings.
Averages for each calendar month, 2015 on.
Hotter than in 2021, and about like Illinois as a whole
| Richmond now | 2017–19 | 2021 peak | IL now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 41% | 12% | 20% | 37% |
| Gone within two weeksShare of homes under contract within 14 days | 49% | 34% | 47% | 46% |
| Listings with a price cutShare of homes for sale that cut their price | 33% | 23% | 35% | 19% |
| Price paid vs. askingAverage sale price ÷ list price | 100.8% | 96.4% | 97% | 99.2% |
| Days to sellMedian days from listing to contract | 56 | 85 | 31 | 49 |
6 homes for sale on a typical day
That’s 1.4 times the 2023 low (4), 67% fewer than in 2017–19 and well under 2019’s 22.
1 in 3 listings has cut its price
33% in the last year, against 23% in 2017–19 and 19% across Illinois. More sellers are pricing high and coming down.
Since 2019, houses are up 49%, condos 80%
A house typically sold for $347K in the last year (23 sales), a condo for $141K (14).
Median sale price, weighted by sales each month. Years with fewer than 4 sales of a type are left out.
Source: Redfin Data Center, city market tracker, January 2012 to May 2026 (MLS sales, not seasonally adjusted). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Richmond home costs about $1,829 a month
Price: Richmond’s typical sale, last 12 months. Property tax at Richmond’s 2.5% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Richmond is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in April
The month with the most choice. December has the fewest, about 2.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $252K home, about $6,170 a year.
Taxes vs. neighborsSchools
The schools grade for Richmond, from test results, graduation and how much students grow.
Schools in RichmondTypical commute
The average one-way trip to work for people who live in Richmond.
Work & commuteCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
No busy market nearby sells for less a square foot; Twin Lakes, Powers Lake and Bloomfield for far more
The busier markets within 25 miles of Richmond, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Johnsburg | 114 | $407K | $203 | 51% | 70 |
| Twin Lakes | 94 | $401K | $264 | 38% | 61 |
| Bloomfield | 56 | $302K | $232 | 36% | 57 |
| Spring Grove | 50 | $539K | $184 | 42% | 89 |
| Genoa City | 38 | $320K | $216 | 37% | 48 |
| Richmond | 37 | $252K | $179 | 41% | 56 |
| Powers Lake | 21 | $695K | $299 | 33% | 56 |
Redfin Data Center, June 2025 to May 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Richmond, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Richmond. People who follow the town see it, and so do people comparing Richmond with their own town. No commission, no listing fee.
Questions about buying a home in Richmond
What do homes sell for in Richmond, IL?
37 homes sold in the year to May 2026 at a typical $252K, $179 a square foot. Houses sold for about $347K, condos for about $141K.
Is Richmond a buyer’s or seller’s market?
A seller’s market: 5 homes were for sale in May 2026 and 6 sold, about 0.8 months of supply. Buyers paid 100.8% of asking on average, and 33% of listings cut their price.
When is the best time to buy in Richmond?
April brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Richmond?
About 2.5% of a home’s value a year. On a $252K home that’s near $6,170.
Where can I see homes for sale in Richmond?
Zillow, Redfin, Realtor.com and Homes.com all carry Richmond’s MLS listings; the search links above open each one filtered to Richmond.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).