Market Overview
balancedRichmond’s median home price is roughly $98 k (‑19%) below the Utah median and homes linger about 33 % longer on the market.- •Median price is $427 k, 21.8 % higher month‑over‑month, yet still 18.7 % below the state median.
- •Days on market average 82 days versus the state’s 61, indicating slower turnover despite near‑list‑price sales (99.4 % of list).
- •Inventory is tight: only 12 closed transactions and 13 new listings in the past three months, with just 12 active single‑family homes.
- •Mortgage rates have been climbing, with the 30‑year rate rising from 6.10 % in Jan to 6.49 % in Jul.
- •City‑specific water restrictions may dampen buyer enthusiasm, while the new state housing division could add supply later this year.
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Frequently Asked Questions About Richmond Real Estate
As of July 2026, the median home price in Richmond, Utah is $427,000, which is 18.7% below the Utah state median of $525,000. Home prices in Richmond range from $355,000 to $1,499,999, with an average sale price of $561,381. These figures are based on recent closed transactions in the Richmond real estate market.
Richmond, Utah is currently a balanced market. Key indicators include an average sale-to-list price ratio of 99.4% and homes spending an average of 82 days on the market. Richmond’s median home price is roughly $98 k (‑19%) below the Utah median and homes linger about 33 % longer on the market.
Homes in Richmond, Utah spend an average of 82 days on the market before going under contract compared to the Utah state average of 61 days (33.3% above average). This gives buyers time to carefully evaluate options and negotiate terms. Properties that are priced competitively and show well tend to sell fastest.