Richmond, KY Foreclosures
How much do homes sell for in Richmond, KY?
The average home price is currently $323,237.
In Richmond, KY, how many homes are available?
There are currently 112 active home listings available in Richmond.
What’s the average rental cost in Richmond, KY?
The average rental price in Richmond is $1,155.
What is the most expensive home in Richmond?
The most expensive home sold in Richmond had a price of $18,081,219.
What is currently the cheapest priced home in Richmond, KY?
The cheapest home for sale in Richmond is priced at $10,974.
Living in Richmond, KY
Richmond, KY, is a delightful city with a rich history, vibrant community, and easy access to the beautiful outdoor landscapes of Kentucky. With strong educational institutions like Eastern Kentucky University and a mix of urban amenities, Richmond is perfect for families and professionals alike. It offers an engaging local culture with festivals, parks, and recreational activities throughout the year.
Current Market Conditions in Richmond, KY
The real estate market in Richmond, KY, is currently experiencing growth, with a notable increase in demand for single-family homes. The desirable location within reach of Lexington and the appeal of Richmond's amenities have contributed to rising home prices. A balanced mix of new constructions and historic properties offers something for every buyer, making it an attractive market for investors and first-time homebuyers alike.
The trend in the Richmond housing market has shown an upward trajectory over the past few months, with properties selling swiftly, often within a month of listing. Buyers are particularly interested in homes that are move-in ready or have newly remodeled spaces, which adds value to properties.
There is also an increased interest in rental properties due to Richmond’s growing student population from EKU, as well as local industry growth. This dynamic is anticipated to continue throughout the year, leading to a more competitive market.
Home Value Estimator For Richmond, KY
There are currently 17,687 real estate properties
in Richmond, KY,
with a median automated valuation model (AVM) price
of $269,303.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Richmond, KY, based on current market
trends, comparable real
estate sales nearby, historical data and, of course, property features, among other
variables. These automated home estimates are often very helpful, providing buyers
and
sellers with a better idea of a home’s value ahead of the negotiation process. For
example,
the average home price in Richmond, KY,
is $323,237.00, with the most expensive house
in Richmond, KY, topping out
at $18,081,219.00 and the cheapest home
in Richmond, KY,
clocking in at $10,974.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Richmond, KY!
Rent Prices
In Richmond, KY
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Richmond, KY, is on
a rollercoaster ride. The
average rent price in Richmond, KY,
is $1,155.00. Indeed, when looking to rent in
Richmond, KY, you can expect to pay as little
as $480.00 or as much
as $2,940.00,
with the average rent median estimated to
be $1,140.00. The good news is that finding
an affordable and desirable property to rent in Richmond, KY
-- whether it’s apartments,
townhomes, condominiums or single-family homes -- is made easier with knowledge of
the
local market and, of course, a little patience.
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