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Richmond

Why you'd want to live in Richmond

The Kentucky city of Richmond, county seat of Madison County, is located 26 miles south of Lexington and 110 miles southeast of Louisville. The metropolitan area of Cincinnati, Ohio, sits about 112 miles north of the city. Richmond is serviced by Interstate Highways I-64 and I-75 in conjunction with U.S. Route 25 and Kentucky State Highway 52. The city is home to Eastern Kentucky University. Shortly after its founding in 1798 by Colonel John Miller, a soldier in the Revolutionary War, Richmond replaced nearby Milford as the county seat. The city was named in honor of Miller's birthplace (Richmond, Virginia). In 1906, the state General Assembly enacted legislation to establish the Eastern Kentucky State Normal School, which would undergo several name changes in subsequent years; starting with Eastern Kentucky State Normal School, then Eastern Kentucky State Teachers College, and then Eastern Kentucky State College, before finally settling in as Eastern Kentucky University. While continuing to recognize its historic function of preparing quality teachers for Kentucky's elementary and secondary schools, the University today offers a strong liberal arts curriculum leading to a wide variety of degrees.One of Kentucky's fastest-growing cities, Richmond boasts a wide variety of theaters, live entertainment, cultural activities, and many areas of scenic and historic interest. Historic Downtown Richmond is one of the finest restored 19th century commercial districts in the Southeast. The Irvinton House Museum is an opulent 1820 mansion complete with its original furnishings. White Hall State Historic Site is the former home of emancipationist and publisher Cassius Marcellus Clay, who was also U. S. minister to Russia and a close friend of Abraham Lincoln. Twelve miles to the north of the city is Fort Boonesborough State Park, the site of a famous Kentucky settlement established by Daniel Boone in 1775. via citytowninfo.com

Richmond Market Report

$416,262

AVERAGE PRICE OF 257 HOMES

$309,000

AVERAGE PRICE OF 1 DISTRESSED HOMES

$1,634,800

AVERAGE PRICE OF 5 MULTI-MILLION DOLLAR HOMES

$407,171

AVERAGE PRICE OF 121 NEWLY BUILT HOMES

$611,525

AVERAGE PRICE OF 12 HOMES WITH A POOL

$372,860

AVERAGE PRICE OF 15 REDUCED PRICE HOMES

Average Home

Average Price $416,262
Avg Bedrooms 3.57 beds
Avg Bathrooms 2.74 baths

Average Price by Bedrooms

1 bedroom $177,000
2 bedrooms $223,600
3 bedrooms $353,232
4 bedrooms $443,098
5 bedrooms $626,603
Richmond Home Price Trends
  4/2024 3/2024 2/2024 1/2024 12/2023
Total Listings 235 236 225 220 209
Average Price $402,573 $391,691 $387,725 $391,080 $385,240
Avg Price Change +2.78% +1.02% -0.87% +1.52% -1.49%
Median Price $334,496 $330,172 $335,879 $339,900 $342,272
Med Price Change +1.31% -1.73% -1.20% -0.70% -0.62%
Avg Bedrooms 3.52 beds 3.51 beds 3.5 beds 3.54 beds 3.54 beds
Avg Bathrooms 2.66 baths 2.69 baths 2.69 baths 2.72 baths 2.67 baths
Home Price by High School
School Name Total Homes Average Price Avg Days on Site
Madison Central 224 $408,321 77 days
Home Price by House Size
Total Homes Average Price Avg Days on Site
All Homes 257 $416,262 76 days
Distressed Homes 1 $309,000 47 days
Multi-Million Dollar Homes 5 $1,634,800 233 days
Newly Built Homes 121 $407,171 106 days
Homes with a Pool 12 $611,525 89 days
Reduced Price Homes 15 $372,860 42 days
Keller Williams Legacy Group - The Lawwill & Company Team
230 Geri Lane
Richmond, KY 40475
859-361-6880

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 Ben Lawwill - Keller Williams Legacy Group - The Lawwill & Company Team are marked with the IDX logo or the IDX thumbnail logo and detailed information about them includes the name of the listing IDX brokers.
Data from other IDX's is "deemed reliable but not guaranteed."
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