Housing Market in Richmond
Richmond's housing market runs genuinely more affordable than several other Kentucky Tier A markets, with a real, disclosed spread in exactly how much a typical home costs depending on which source's methodology is used.
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Learn moreA real, disclosed source spread
Zillow's own average home value ran approximately $297,439 (up 1.8% YoY) -- this record's canonical figure -- while a separately-cited Population Review figure placed the median meaningfully lower, at approximately $205,900.
Rising price-per-square-foot
The median sale price per square foot ran approximately $176, up a real, disclosed 17.7% year-over-year -- a meaningfully faster pace of appreciation than the average home-value figure alone suggests.
A moderately paced market
Homes went to pending in approximately 32 days on average -- a moderate pace, neither an extremely tight nor a slow-moving market.
Key takeaways
- Richmond home-price figures carried a real, disclosed spread ($205,900-$297,439) across sources reviewed this pass.
- Price per square foot rose approximately 17.7% year-over-year.
- Homes went to pending in approximately 32 days on average -- a moderately paced market.
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