Is now a good time to buy a home in Richmond, Indiana?

For many buyers, yes. Richmond continues to offer relative affordability and a more balanced market pace than many larger regional markets. Buyers may have more time to evaluate homes while still needing to act quickly on well-priced listings.

Are home prices rising in Richmond?

Average home values decreased slightly from $201,901 in May to $200,047 in June 2026 , a 0.92% month-over-month decrease . This suggests home values remained relatively stable overall.

How long does it take to sell a home in Richmond?

Homes spent an average of 86 days on the market in June 2026, down from 91 days in May.

Is Richmond a buyer's market or seller's market?

Richmond is currently best described as a balanced market. Buyers benefit from affordability and longer marketing times, while sellers continue to see stable home values and improving days on market.

Are homes selling in Richmond?

Homes are selling faster than they did in May, but Richmond remains a slower-moving market than larger metro areas. In June, homes spent an average of 86 days on the market.

What is the average home value in Richmond?

The average home value in the Richmond market was $200,047 in June 2026.

Why did Richmond closings decrease in June?

Closings declined from May’s unusually strong level. Smaller markets can experience larger month-to-month swings in sales volume, so the decrease does not necessarily mean buyer demand has disappeared.

What should buyers and sellers expect over the next few months?

Buyers should expect a more balanced pace than in larger metro markets, while sellers should focus on pricing and presentation. Richmond is likely to remain steady, affordable, and value-driven through the summer.

Richmond Housing Market Treds & Forecast

Richmond Housing Market Trends

Breadcrumb Example

Latest Update: September 2026 (August Stats)

August 2026 Richmond housing market statistics
Metric	August 2026	Month-over-Month Change	Year-over-Year Change
Average Sale Price	$198,678	+4.16%	+10.02%
Homes Sold	174	+15.23%	-13.86%
Average Days on Market	79 days	4 days slower	10 days slower

What's Happening in the Richmond Market?

August delivered a mixed set of signals for Richmond and the surrounding Wayne County market.

The average sale price rose to $198,678, gaining more than 4% from July and slightly more than 10% from August 2025. The result places August near the upper end of Richmond’s recent price range, although it remains below the May and June 2026 averages.

Sales activity also improved from the previous month. Richmond recorded 174 completed sales, compared with 151 in July. Despite that monthly rebound, sales remained below the 202 homes sold in August 2025.

Properties averaged 79 days on market, compared with 75 days in July and 69 days one year earlier. Buyers are therefore seeing a somewhat less hurried market than they encountered last August, while sellers should allow additional time for preparation, marketing and negotiations.

What This Means for Buyers

Richmond buyers may have more time to compare properties and evaluate pricing than they did one year ago. The increase in average days on market suggests that not every property requires an immediate decision.

However, the higher average sale price means affordability and financing should still be established before beginning a serious home search. Well-positioned properties can attract attention even when the overall market is moving more slowly.

A local Coldwell Banker Lingle real estate professional can help you compare current listings, recent sales and neighborhood-level conditions before making an offer.

What This Means for Sellers

August’s higher average sale price is encouraging for Richmond homeowners, but the longer selling timeline makes pricing and presentation especially important.

Buyers may be more selective when they have additional time to evaluate available homes. Sellers should review recent comparable sales, property condition and competing listings before choosing a list price. Professional photography, accurate positioning and consistent marketing can help a property stand out.

Homeowners considering a move can start with Coldwell Banker Lingle’s home-value tool or connect with a local professional for a more detailed market analysis.

16-Month Market Trends

The following charts track Richmond housing activity from May 2025 through August 2026. Together, they provide context for the latest average sale price, sales volume and average market time.

Average Sale Price

Richmond Average Sale Price

Source: Local housing market data, May 2025–August 2026.

Homes Sold

Richmond Homes Sold

Source: Local housing market data, May 2025–August 2026.

Average Days on Market

Richmond Average Days on Market

Source: Local housing market data, May 2025–August 2026.

Richmond housing market data from May 2025 through August 2026
Month	Average Sale Price	Homes Sold	Average DOM
August 2026	$198,678	174	79 days
July 2026	$190,741	151	75 days
June 2026	$200,047	235	86 days
May 2026	$201,901	242	91 days
April 2026	$189,718	116	87 days
March 2026	$193,516	108	101 days
February 2026	$180,398	105	90 days
January 2026	$186,860	187	116 days
December 2025	$169,496	114	95 days
November 2025	$181,916	113	76 days
October 2025	$182,794	132	86 days
September 2025	$194,067	146	83 days
August 2025	$180,579	202	69 days
July 2025	$187,983	132	72 days
June 2025	$185,218	127	61 days
May 2025	$162,864	121	68 days