19 hours on Rocket
$1,780 Closing Credit¹
#25012147, Listing office: Rare Earth Realty LLC
Richmond Housing Market Report May 2025•Madison County, Kentucky
Housing Prices in Richmond, KY
How much do homes in Richmond, KY cost?
Housing Market Conditions
Is Richmond, KY a buyer’s or seller’s market?
Seller'sMarket
Buyer'sMarket
Richmond is a Seller's Market
Difference Since May 2024
Since last year, Richmond has remained a Seller's Market.
Insight
Richmond is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Median Sold Price
$303,319$115/SqFt
+$11,638
+4.0%
Based on all homes sold in the last 12 months
Insight
Homes in Richmond have sold for 4% more than they did a year ago.
Summary: The median home sold price in Richmond was $303,319 in May 2025, up 4% from last year, and the median price per square foot was $115.
Median Sold Price By Cities
| City | May 2024 | May 2025 | Change YoY |
|---|---|---|---|
| Kirksville | $301K | $424.7K | +41.1% |
| Richmond | $291.6K | $303.3K | +4.0% |
| Berea | $255K | $263.5K | +3.4% |
| Waco-Bybee | $270.4K | $275K | +1.7% |
Median Sold Price By Bedrooms
| Beds | May 2024 | May 2025 | Change YoY |
|---|---|---|---|
| 11 Bedroom | $165K | $145K | -12.1% |
| 22 Bedrooms | $174.9K | $202.4K | +15.8% |
| 33 Bedrooms | $270.3K | $284.9K | +5.4% |
| 44 Bedrooms | $355K | $359.9K | +1.4% |
| 55+ Bedrooms | $410K | $443K | +8.0% |
Summary: Richmond housing price by bedroom type for May 2025, compared to the previous year. The home price for 1 bedroom homes decreased by -12.1%. The home price for 2 bedroom homes increased by +15.8%. The home price for 3 bedroom homes increased by +5.4%. The home price for 4 bedroom homes increased by +1.4%. The home price for 5 bedroom homes increased by +8.0%.
How does Richmond, KY compare with other places?
Market comparison tool
Data and numbers shown are subject to change and may vary based on different timeframes.
Richmond, KY
Housing supply in Richmond, KY
How many homes are available in Richmond, KY?
Number of Homes For Sale
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 329Last MonthMay 2025 | ||
| 3052 months agoApr 2025 | +7.9 % Change MoMApr – May |
Summary: The Richmond real estate market had 329 homes for sale in May 2025, a 7.9 % increase compared to Apr 2025.
Number of Homes Sold
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 69Last MonthMay 2025 | ||
| 722 months agoApr 2025 | -4.2 % Change MoMApr – May |
Homes For Sale By Bedroom Count
| Beds | Apr 2025 | May 2025 | Change MoM |
|---|---|---|---|
| 11 Bedroom | 2 | 2 | 0.0% |
| 22 Bedrooms | 14 | 14 | 0.0% |
| 33 Bedrooms | 178 | 179 | +0.6% |
| 44 Bedrooms | 77 | 98 | +27.3% |
| 55+ Bedrooms | 34 | 36 | +5.9% |
Summary: Richmond housing inventory by bedroom type for May 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes increased by +0.6%. The inventory for 4 bedroom homes increased by +27.3%. The inventory for 5 bedroom homes increased by +5.9%.
Asking Price vs. Sold Price
How much do homes in Richmond, KY cost?
Over Asking Price6 Homes
At Asking Price16 Homes
Under Asking Price47 Homes
Insight
If you're buying a home in Richmond, you may be able to get a good deal. 68.1% of homes here sold below asking price last month.
Summary: A total of 69 homes were sold or pending in Richmond in May 2025, down by 4.2% month-over-month. Of the 69 sold homes, 68% were sold under asking, 23% were sold at asking, and and 9% were sold over asking.
Days on Market for Richmond, KY
How long does it take to sell a home in Richmond, KY?
Breakdown of Home Sale Times
Under 30 Days31 Homes
30 – 90 Days23 Homes
Over 90 Days12 Homes
Insight
Many homes in Richmond are selling fast, if you're buying plan to act quickly.
Summary: During May 2025, 69 homes were sold in Richmond; 45% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
Average Sale Time
| This Year | 1 year ago | Change YoY |
|---|---|---|
| 50 DaysThis YearMay 2025 | ||
| 30 Days1 year agoMay 2024 | +65.5 % Change YoYMay 2024 – May 2025 |
Summary: Homes in Richmond had an average listing age of 50 days in May 2025, up by 65.5% compared to the previous year.
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Newest Listings in Richmond, KY
What homes are available in Richmond, KY?
20 hours on Rocket
$4,738 Closing Credit¹
#25012146, Listing office: Keller Williams Commonwealth
1 day on Rocket
$4,156 Closing Credit¹
#25012109, Listing office: Keller Williams Commonwealth
2 days on Rocket
$4,274 Closing Credit¹
#25012070, Listing office: Bluegrass Properties Group
2 days on RocketTour
$3,383 Closing Credit¹
#25012065, Listing office: 5.23 Real Estate
2 days on Rocket
$4,155 Closing Credit¹
#25011987, Listing office: Berkshire Hathaway HomeServices Foster Realtors
3 days on RocketTour
$4,388 Closing Credit¹
#25011724, Listing office: Keller Williams Legacy Group
3 days on RocketBackup offers
$2,968 Closing Credit¹
#25011919, Listing office: Century 21 Pinnacle
3 days on Rocket
#25011909, Listing office: Keller Williams Commonwealth
3 days on Rocket
$4,155 Closing Credit¹
#25011846, Listing office: Keller Williams Legacy Group
3 days on Rocket
$9,791 Closing Credit¹
#25011841, Listing office: Bluegrass Properties Group
5 days on Rocket
$3,978 Closing Credit¹
#25011121, Listing office: RE/MAX Elite Realty
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MLS Disclaimers and Copyright
Based on information from Imagine MLS, for the period 06/01/2023 - 06/01/2025
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Lexington-Bluegrass Association of Realtors Multiple Listing Service. Real estate listings held by IDX Brokerage firms other than this broker, are marked with the IDX logo or the IDX thumbnail logo and detailed information about them includes the name of the listing IDX Brokers. Information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Listing(s) information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. © 2025 LBAR Multiple Listing Service. All rights reserved.Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/9/2025, 6:45:30 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.