Is Richland, IN 47634 a buyer’s or seller’s market?
Richland is a seller’s market. With about 1.8 months of supply and 36% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Richland housing market right now
In the three months ending August 31, 2026, 36% of homes in Richland, IN 47634 sold above their list price, the typical home went under contract in 26 days and there were 1.8 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 14 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 33%, homes sold more slowly (3 days then) and the median sale price rose 37% to $201,413. Overall, Richland is less competitive than a year ago, which gives buyers more room.
Within Spencer County, homes here sell more slowly than in 67% of the county’s ZIP codes, and sell more often over asking than in 83%.
Nearby, buyers who want less competition could look at Lincoln City 47552 (0% sold over asking) or Lamar 47550 (0% sold over asking), while Grandview 47615 (50% sold over asking) is even more competitive.
Run the numbers for 47634
Nearby markets
Chrisney 47611Seller’s market $125 /sq ftEvanston 47531 — /sq ftGentryville 47537 — /sq ftGrandview 47615Buyer’s market $299 /sq ft Browse all markets →Towns like Richland nearby
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Questions about Richland real estate
Is Richland a buyer’s or seller’s market?
A seller’s market: there were 1.8 months of supply in Richland, IN 47634 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Richland?
The typical home went under contract in 26 days in the latest three months.
Do homes in Richland sell over asking?
36% of homes sold above their original list price, and the typical sale closed at 99.2% of the list price.
What are property taxes in Richland?
About 0.62% of a home’s value a year in Spencer County, or roughly $2,480 on a $400,000 home.
What is the median home price in Richland?
The median sale price was $201,413 in the three months ending August 31, 2026, about $147 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology