Is Richmond, IL 60071 a buyer’s or seller’s market?

The Richmond housing market right now

In the three months ending August 31, 2026, 8% of homes in Richmond, IL 60071 sold above their list price, the typical home went under contract in 52 days and there were 4.2 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 13 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 29%, homes sold faster (64 days then) and the median sale price rose 63% to $509,779. Overall, Richmond is less competitive than a year ago, which gives buyers more room.

Within McHenry County, homes here sell more slowly than in 59% of the county’s ZIP codes, and sell less often over asking than in 94%.

Nearby, buyers who want less competition could look at Union 60180 (0% sold over asking), while Ringwood 60072 (100% sold over asking) and Hebron 60034 (60% sold over asking) are even more competitive.