Richmond Mortgage Rates & Closing Costs

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    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Richmond averaged 6.91% for the week of 2024-11-14, compared to the national average of 6.78% for the same period.

    The average rate for the prior week (2024-11-07) was 6.92% and one month ago for the week of 2024-10-10, the average rate was 6.35%.

    Richmond's average rate one year ago was 7.73%.

    For refis of the same type during the week of 2024-11-14, the average rate was 6.88%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-11-14 6.78%
    Richmond 30 Year Fixed Rate 2024-11-14 6.91%
    Richmond 30 Year Fixed Rate Refi 2024-11-14 6.88%
    Richmond 15 Year Fixed Rate 2024-11-14 6.09%
    Richmond 15 Year Fixed Rate Refi 2024-11-14 6.49%
    Richmond 30 Year FHA 2024-11-14 0.32%
    Richmond 30 Year FHA Refi 2024-11-14 -0.2%
    Richmond 30 Year USDA 2024-11-14 -0.2%
    Richmond 30 Year USDA Refi 2024-11-14 -0.1%
    Richmond 30 Year VA 2024-11-14 0%
    Richmond 30 Year VA Refi 2024-11-14 0.2%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Richmond, IN.

    Richmond Top Lenders by Rates & Fees

    The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Richmond, IN market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    First Financial Bank 84 6.82% $2,703
    First Bank Richmond 80 6.26% $3,125
    Three Rivers Federal Credit Union 57 6.91% $2,890
    JPMorgan Chase Bank 28 7.12% $2,463
    PRIMELENDING, A PLAINSCAPITAL COMPANY 24 6.94% $3,765
    The Huntington National Bank 21 6.74% $2,823
    NEWREZ LLC 21 7.18% $2,955
    DAS Acquisition Company, LLC 11 6.83% $4,762
    U.S. Bank 11 7.03% $3,198
    The Farmers & Merchants State Bank 7 6.69% $4,901
    Merchants Bank of Indiana 6 6.94% $3,071
    QUICKEN LOANS, LLC 6 7.18% $4,058
    Farm Credit Mid-America, ACA 6 7.17% $5,108
    PNC Bank 5 6.88% $3,156
    RUOFF MORTGAGE COMPANY, INC. 5 6.75% $1,372
    Fifth Third Bank 5 6.85% $3,227
    THRIVE MORTGAGE, LLC 5 6.80% $2,874
    CALIBER HOME LOANS, INC. 4 6.72% $4,352
    UNITED WHOLESALE MORTGAGE, LLC 4 6.87% $3,127
    Mortgage Research Center, LLC 3 6.33% $1,484
    MJW Financial LLC 3 6.50% $4,028
    MYCUMORTGAGE, LLC 3 8.04% $4,020
    CROSSCOUNTRY MORTGAGE, LLC 3 6.91% $4,870
    First Merchants Bank 2 7.38% $2,819
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 7.43% $3,677
    AMERISAVE MORTGAGE CORPORATION 2 6.19% $6,999
    Bank of America 2 7.19% $3,442
    Carrington Mortgage Services, LLC 2 6.69% $4,911
    Discover Bank 2 6.87% $0
    FIRST COMMUNITY MORTGAGE, INC. 2 7.56% $4,191
    V.I.P. MORTGAGE, INC. 2 6.99% $4,036
    Wells Fargo Bank 2 7.00% $2,613
    KEMBA CREDIT UNION, INC. 1 6.38% $3,448
    LOANDEPOT.COM, LLC 1 6.63% $6,939
    HALLMARK HOME MORTGAGE, LLC 1 6.99% $5,092
    Minster Bank 1 6.38% $2,001
    GVC MORTGAGE, INC. 1 7.60% $3,421
    Greenville Federal 1 6.25% $2,476
    Mr. Cooper ( Nationstar Mortgage ) 1 6.63% $6,351
    Flagstar Bank, FSB 1 7.63% $3,884
    NAVY FEDERAL CREDIT UNION 1 7.13% $1,323
    21ST MORTGAGE CORPORATION 1 9.80% $2,266
    Northwest Federal Credit Union 1 5.38% $1,597
    Old National Bank 1 7.00% $299
    PENNYMAC LOAN SERVICES, LLC 1 8.00% $3,554
    PHH Mortgage Corporation 1 7.00% $5,221
    First Federal Savings Bank 1 6.63% $2,301
    FIRST CENTENNIAL MORTGAGE CORPORATION 1 6.00% $2,950
    FCN Bank 1 6.38% $2,095
    ROYAL UNITED MORTGAGE LLC 1 7.38% $4,945
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.99% $4,508
    Somerville Bank 1 6.75% $2,635
    STAR Financial Bank 1 6.25% $2,830
    Sunflower Bank 1 6.99% $3,922
    Community Trust Bank, Inc. 1 6.13% $1,561
    CARDINAL FINANCIAL 1 6.99% $3,770
    BROKER SOLUTIONS, INC. 1 6.75% $4,234
    BMO Harris Bank 1 7.50% $3,192
    Bank Five Nine 1 7.25% $2,269
    ALLIED MORTGAGE GROUP, INC. 1 7.13% $1,460
    WesBanco 1 7.25% $3,481
    INDIANA MEMBERS CREDIT UNION 1 4.75% $2,223
    Heritage Federal Credit Union 1 7.38% $2,573

    Richmond Average Closing Costs & Other Stats

    Richmond, IN's 63 lenders originated 1,159 loans during 2023. The total origination value was $1,170,735,000, with an average loan value of $1,010,125.

    Richmond's average closing costs are $3,602.

    The top Richmond lender as defined by loan originations is First Financial Bank, with 84 loans originated. Their average total fees are $2,703, which is $422 lower than the next largest lender, First Bank Richmond.

    The lowest fee Richmond lenders (with over 10 loans originated) are JPMorgan Chase Bank ($2,463), First Financial Bank ($2,703), The Huntington National Bank ($2,823), Three Rivers Federal Credit Union ($2,890) and NEWREZ LLC ($2,955).

    The lowest rate Richmond lenders (with over 10 loans originated) are First Bank Richmond (6.26%), The Huntington National Bank (6.74%), First Financial Bank (6.82%), DAS Acquisition Company, LLC (6.83%) and Three Rivers Federal Credit Union (6.91%).

    Richmond, IN Mortgage Market Share & Volume

    Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

    Name 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
    Three Rivers Federal Credit Union $187,930,000 $1,043,525,000 455.3% 89.1%
    First Bank Richmond $23,200,000 $22,215,000 -4.2% 1.9%
    First Financial Bank $15,280,000 $15,630,000 2.3% 1.3%
    NEWREZ LLC $475,000 $9,570,000 1,914.7% 0.8%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $9,105,000 $8,000,000 -12.1% 0.7%
    Mortgage Research Center, LLC $3,025,000 $5,450,000 80.2% 0.5%
    QUICKEN LOANS, LLC $9,645,000 $5,100,000 -47.1% 0.4%
    WALKER & DUNLOP, LLC $2,525,000 $4,605,000 82.4% 0.4%
    DAS Acquisition Company, LLC $2,990,000 $4,550,000 52.2% 0.4%
    JPMorgan Chase Bank $3,995,000 $3,895,000 -2.5% 0.3%
    The Huntington National Bank $6,120,000 $3,795,000 -38.0% 0.3%
    U.S. Bank $7,025,000 $3,155,000 -55.1% 0.3%
    The Farmers & Merchants State Bank $1,680,000 $2,120,000 26.2% 0.2%
    Farm Credit Mid-America, ACA $2,825,000 $1,860,000 -34.2% 0.2%
    Somerville Bank $585,000 $1,695,000 189.7% 0.1%
    Merchants Bank of Indiana $1,445,000 $1,375,000 -4.8% 0.1%
    THRIVE MORTGAGE, LLC $1,330,000 n/a 0.1%
    LOANDEPOT.COM, LLC $1,275,000 $1,315,000 3.1% 0.1%
    First Merchants Bank $1,600,000 $1,285,000 -19.7% 0.1%
    RUOFF MORTGAGE COMPANY, INC. $1,180,000 $1,275,000 8.1% 0.1%
    FREEDOM MORTGAGE CORPORATION $2,405,000 $1,165,000 -51.6% 0.1%
    UNITED WHOLESALE MORTGAGE, LLC $1,110,000 $1,030,000 -7.2% 0.1%
    Bath State Bank $875,000 $900,000 2.9% 0.1%
    Greenville National Bank $3,110,000 $880,000 -71.7% 0.1%
    PNC Bank $555,000 $875,000 57.7% 0.1%
    MJW Financial LLC $200,000 $870,000 335.0% 0.1%
    NEW DAY FINANCIAL, LLC $1,370,000 $850,000 -38.0% 0.1%
    NAVY FEDERAL CREDIT UNION $570,000 $840,000 47.4% 0.1%
    Fifth Third Bank $1,410,000 $830,000 -41.1% 0.1%
    CROSSCOUNTRY MORTGAGE, LLC $240,000 $800,000 233.3% 0.1%
    MYCUMORTGAGE, LLC $2,600,000 $800,000 -69.2% 0.1%
    AMERICAN FINANCIAL RESOURCES, INC. $310,000 $790,000 154.8% 0.1%
    PENNYMAC LOAN SERVICES, LLC $850,000 $690,000 -18.8% 0.1%
    CALIBER HOME LOANS, INC. $16,965,000 $615,000 -96.4% 0.1%
    AMERISAVE MORTGAGE CORPORATION $575,000 $605,000 5.2% 0.1%
    BROKER SOLUTIONS, INC. $710,000 $585,000 -17.6% 0.0%
    Blue Ridge Bank $560,000 n/a 0.0%
    Bank of America $245,000 $425,000 73.5% 0.0%
    CARDINAL FINANCIAL $955,000 $425,000 -55.5% 0.0%
    Carrington Mortgage Services, LLC $555,000 $405,000 -27.0% 0.0%
    Truist $385,000 n/a 0.0%
    Century Mortgage Company DBA Century Lending Company $125,000 $370,000 196.0% 0.0%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $2,215,000 $365,000 -83.5% 0.0%
    AMERICAN PACIFIC MORTGAGE CORPORATION $575,000 $360,000 -37.4% 0.0%
    Flagstar Bank, FSB $1,280,000 $340,000 -73.4% 0.0%
    KEMBA CREDIT UNION, INC. $335,000 n/a 0.0%
    Mr. Cooper ( Nationstar Mortgage ) $1,440,000 $335,000 -76.7% 0.0%
    Northwest Federal Credit Union $325,000 n/a 0.0%
    Discover Bank $55,000 $310,000 463.6% 0.0%
    Union Savings And Loan Association $415,000 $310,000 -25.3% 0.0%
    V.I.P. MORTGAGE, INC. $310,000 n/a 0.0%
    Wells Fargo Bank $665,000 $310,000 -53.4% 0.0%
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC $295,000 n/a 0.0%
    Elements Financial Federal Credit Union $330,000 $280,000 -15.2% 0.0%
    First Federal Bank $275,000 n/a 0.0%
    GUARANTEED RATE AFFINITY, LLC $245,000 n/a 0.0%
    MOVEMENT MORTGAGE, LLC $245,000 n/a 0.0%
    HOMESIDE FINANCIAL, LLC $240,000 n/a 0.0%
    ZILLOW HOME LOANS, LLC $240,000 n/a 0.0%
    1ST SIGNATURE LENDING, LLC $225,000 n/a 0.0%
    PLANET HOME LENDING, LLC $230,000 $225,000 -2.2% 0.0%
    POLARIS HOME FUNDING CORP. $750,000 $220,000 -70.7% 0.0%
    ALLIED MORTGAGE GROUP, INC. $350,000 $215,000 -38.6% 0.0%
    INSPIRE HOME LOANS INC. $1,785,000 $195,000 -89.1% 0.0%
    STAR Financial Bank $95,000 $190,000 100.0% 0.0%
    Community First Bank of Indiana $185,000 n/a 0.0%
    OPEN MORTGAGE, LLC $185,000 n/a 0.0%
    FIRST COMMUNITY MORTGAGE, INC. $180,000 n/a 0.0%
    MID AMERICA MORTGAGE, INC. $270,000 $180,000 -33.3% 0.0%
    Barrington Bank & Trust Company, N.A. $595,000 $175,000 -70.6% 0.0%
    EMBRACE HOME LOANS, INC. $175,000 n/a 0.0%
    Heritage Federal Credit Union $175,000 n/a 0.0%
    Ixonia Bank $175,000 n/a 0.0%
    AmeriHome Mortgage Company, LLC $165,000 n/a 0.0%
    INDIANA MEMBERS CREDIT UNION $165,000 $165,000 0.0% 0.0%
    AMWEST FUNDING CORP. $155,000 n/a 0.0%
    Bank Five Nine $155,000 n/a 0.0%
    HALLMARK HOME MORTGAGE, LLC $155,000 n/a 0.0%
    Minster Bank $155,000 n/a 0.0%
    MILESTONE HOME LENDING, LLC $145,000 n/a 0.0%
    Figure Lending LLC $140,000 n/a 0.0%
    Old National Bank $545,000 $140,000 -74.3% 0.0%
    BMO Harris Bank $65,000 $135,000 107.7% 0.0%
    GVC MORTGAGE, INC. $865,000 $135,000 -84.4% 0.0%
    ROYAL UNITED MORTGAGE LLC $1,025,000 $130,000 -87.3% 0.0%
    WesBanco $165,000 $125,000 -24.2% 0.0%
    FORUM Credit Union $760,000 $110,000 -85.5% 0.0%
    FCN Bank $370,000 $105,000 -71.6% 0.0%
    Sunflower Bank $105,000 n/a 0.0%
    Bank of England $85,000 $95,000 11.8% 0.0%
    Community Trust Bank, Inc. $95,000 n/a 0.0%
    DIRECT MORTGAGE LOANS, LLC $95,000 n/a 0.0%
    First Federal Savings Bank $85,000 n/a 0.0%
    LAKEVIEW LOAN SERVICING, LLC $605,000 $85,000 -86.0% 0.0%
    PHH Mortgage Corporation $145,000 $85,000 -41.4% 0.0%
    Union Savings Bank $35,000 $85,000 142.9% 0.0%
    HONDA Federal Credit Union $60,000 $80,000 33.3% 0.0%
    Arvest Bank $75,000 n/a 0.0%
    VELOCITY COMMERCIAL CAPITAL, LLC $160,000 $75,000 -53.1% 0.0%
    Greenville Federal $15,000 $65,000 333.3% 0.0%
    PrimeTrust Financial Federal Credit Union $65,000 n/a 0.0%
    TEACHERS CREDIT UNION $35,000 $65,000 85.7% 0.0%
    21ST MORTGAGE CORPORATION $60,000 n/a 0.0%
    FIRST CENTENNIAL MORTGAGE CORPORATION $55,000 n/a 0.0%
    The Farmers State Bank $85,000 $55,000 -35.3% 0.0%
    MUTUAL OF OMAHA MORTGAGE, INC. $740,000 $45,000 -93.9% 0.0%
    Stock Yards Bank & Trust Company $45,000 n/a 0.0%
    Third Federal Savings and Loan Association of Cleveland $325,000 $35,000 -89.2% 0.0%
    Citizens State Bank of New Castle $460,000 $25,000 -94.6% 0.0%

    Richmond's top lender by overall market share is Three Rivers Federal Credit Union, with 89.1% market share. In second place, with 1.9%, is First Bank Richmond, having originated $22,215,000 in loans. In third place, with 1.3%, is First Financial Bank, having originated $15,630,000 in loans. In fourth place, with 0.8%, is NEWREZ LLC, having originated $9,570,000 in loans. In fifth place, with 0.7%, is PRIMELENDING, A PLAINSCAPITAL COMPANY, having originated $8,000,000 in loans.

    Richmond Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - Richmond (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $79,900 (0.0%) $116,133 (-4.2%) 0.00 314
    2018-02-01 $83,200 (4.1%) $120,797 (1.1%) 0.00 329
    2018-03-01 $84,900 (6.4%) $125,416 (5.9%) 0.00 291
    2018-04-01 $82,200 (3.4%) $122,744 (8.5%) 0.00 288
    2018-05-01 $82,200 (1.2%) $124,808 (6.7%) 0.00 287
    2018-06-01 $85,200 (-0.4%) $130,626 (5.1%) 0.00 284
    2018-07-01 $88,350 (-1.7%) $132,966 (7.5%) 0.00 298
    2018-08-01 $89,800 (-0.1%) $132,046 (10.0%) 0.00 304
    2018-09-01 $89,900 (5.9%) $130,228 (6.9%) 0.00 318
    2018-10-01 $85,675 (0.9%) $124,927 (-0.1%) 0.00 329
    2018-11-01 $87,475 (-1.9%) $125,567 (0.2%) 0.00 341
    2018-12-01 $88,500 (4.7%) $123,810 (0.9%) 0.00 341
    2019-01-01 $88,650 (11.0%) $122,983 (5.9%) 0.00 321
    2019-02-01 $89,900 (8.1%) $125,842 (4.2%) 0.00 320
    2019-03-01 $89,157 (5.0%) $129,619 (3.4%) 0.00 291
    2019-04-01 $89,900 (9.4%) $134,168 (9.3%) 0.00 261
    2019-05-01 $96,450 (17.3%) $137,749 (10.4%) 0.00 269
    2019-06-01 $94,450 (10.9%) $136,256 (4.3%) 0.00 251
    2019-07-01 $90,550 (2.5%) $135,097 (1.6%) 0.00 236
    2019-08-01 $92,627 (3.2%) $133,947 (1.4%) 0.00 242
    2019-09-01 $96,718 (7.6%) $131,386 (0.9%) 0.00 242
    2019-10-01 $99,900 (16.6%) $130,264 (4.3%) 0.00 241
    2019-11-01 $99,700 (14.0%) $127,224 (1.3%) 0.00 258
    2019-12-01 $93,200 (5.3%) $121,091 (-2.2%) 0.00 258
    2020-01-01 $93,200 (5.1%) $121,769 (-1.0%) 0.00 248
    2020-02-01 $95,000 (5.7%) $127,802 (1.6%) 0.00 221
    2020-03-01 $99,900 (12.1%) $127,438 (-1.7%) 0.00 207
    2020-04-01 $109,900 (22.3%) $128,407 (-4.3%) 0.00 197
    2020-05-01 $94,950 (-1.6%) $135,077 (-1.9%) 0.00 153
    2020-06-01 $116,150 (23.0%) $156,615 (14.9%) 0.00 122
    2020-07-01 $121,050 (33.7%) $168,452 (24.7%) 0.00 122
    2020-08-01 $119,900 (29.4%) $178,200 (33.0%) 0.00 127
    2020-09-01 $124,925 (29.2%) $167,238 (27.3%) 0.00 132
    2020-10-01 $109,900 (10.0%) $156,921 (20.5%) 0.00 147
    2020-11-01 $101,175 (1.5%) $150,286 (18.1%) 0.00 164
    2020-12-01 $99,850 (7.1%) $150,617 (24.4%) 0.00 163
    2021-01-01 $91,250 (-2.1%) $147,866 (21.4%) 0.00 149
    2021-02-01 $82,425 (-13.2%) $146,253 (14.4%) 0.00 123
    2021-03-01 $79,900 (-20.0%) $146,920 (15.3%) 0.00 108
    2021-04-01 $107,400 (-2.3%) $158,784 (23.7%) 0.00 97
    2021-05-01 $89,950 (-5.3%) $165,191 (22.3%) 0.00 80
    2021-06-01 $117,175 (0.9%) $182,152 (16.3%) 0.00 90
    2021-07-01 $94,900 (-21.6%) $140,155 (-16.8%) 0.00 85
    2021-08-01 $121,150 (1.0%) $148,534 (-16.7%) 0.00 91
    2021-09-01 $129,900 (4.0%) $155,439 (-7.1%) 0.00 109
    2021-10-01 $132,000 (20.1%) $158,472 (1.0%) 0.00 114
    2021-11-01 $117,200 (15.8%) $152,334 (1.4%) 0.00 97
    2021-12-01 $106,250 (6.4%) $139,962 (-7.1%) 0.00 98
    2022-01-01 $106,250 (16.4%) $142,234 (-3.8%) 0.00 85
    2022-02-01 $114,900 (39.4%) $154,696 (5.8%) 0.00 66
    2022-03-01 $139,950 (75.2%) $174,833 (19.0%) 0.00 67
    2022-04-01 $169,900 (58.2%) $199,118 (25.4%) 0.00 62
    2022-05-01 $152,425 (69.5%) $189,711 (14.8%) 0.00 71
    2022-06-01 $129,900 (10.9%) $170,719 (-6.3%) 0.00 91
    2022-07-01 $129,900 (36.9%) $167,200 (19.3%) 0.00 102
    2022-08-01 $134,800 (11.3%) $179,239 (20.7%) 0.00 110
    2022-09-01 $151,150 (16.4%) $193,392 (24.4%) 0.00 100
    2022-10-01 $159,900 (21.1%) $191,121 (20.6%) 0.00 114
    2022-11-01 $147,075 (25.5%) $177,026 (16.2%) 0.00 134
    2022-12-01 $143,500 (35.1%) $173,166 (23.7%) 0.00 125
    2023-01-01 $143,050 (34.6%) $177,975 (25.1%) 0.00 103
    2023-02-01 $151,875 (32.2%) $175,782 (13.6%) 0.00 90
    2023-03-01 $163,650 (16.9%) $185,936 (6.4%) 0.00 89
    2023-04-01 $168,900 (-0.6%) $188,014 (-5.6%) 0.00 75
    2023-05-01 $149,900 (-1.7%) $187,490 (-1.2%) 0.00 73
    2023-06-01 $169,375 (30.4%) $204,628 (19.9%) 0.00 78
    2023-07-01 $162,450 (25.1%) $209,607 (25.4%) 0.00 87
    2023-08-01 $149,700 (11.1%) $196,975 (9.9%) 0.00 105
    2023-09-01 $129,900 (-14.1%) $178,876 (-7.5%) 0.00 122
    2023-10-01 $141,150 (-11.7%) $192,356 (0.7%) 0.00 129
    2023-11-01 $157,450 (7.1%) $197,449 (11.5%) 0.00 129
    2023-12-01 $150,350 (4.8%) $190,280 (9.9%) 0.00 112
    2024-01-01 $159,900 (11.8%) $205,574 (15.5%) 0.00 102
    2024-02-01 $158,175 (4.2%) $205,711 (17.0%) 0.00 114
    2024-03-01 $149,900 (-8.4%) $197,770 (6.4%) 0.00 88
    2024-04-01 $149,900 (-11.3%) $193,130 (2.7%) 0.00 89
    2024-05-01 $171,200 (14.2%) $208,649 (11.3%) 0.00 86
    2024-06-01 $187,000 (10.4%) $221,485 (8.2%) 0.00 101
    2024-07-01 $195,175 (20.1%) $245,694 (17.2%) 0.00 123
    2024-08-01 $179,900 (20.2%) $228,922 (16.2%) 0.00 147
    2024-09-01 $169,900 (30.8%) $229,939 (28.6%) 0.00 161
    2024-10-01 $170,975 (21.1%) $230,520 (19.8%) 0.00 165
    Richmond's median listing price for 2024-10-01 was $170,975, a difference of $29,825 (21.1%) versus the prior year and $1,075 versus the prior month.

    Richmond's median listing price comes in at 0% of the national average.

    Richmond's average listing price for 2024-10-01 was $230,520, a difference of $38,164 (19.8%) versus the prior year and $581 versus the prior month.

    For the 2024-10-01 period, Richmond had 165 MLS listings, a difference of 4 listings (2%) versus the prior month and 36 listings (28%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Richmond (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,531 sqft
    2018-02-01 0 days 1,594 sqft
    2018-03-01 0 days 1,601 sqft
    2018-04-01 0 days 1,597 sqft
    2018-05-01 0 days 1,601 sqft
    2018-06-01 0 days 1,596 sqft
    2018-07-01 0 days 1,635 sqft
    2018-08-01 0 days 1,634 sqft
    2018-09-01 0 days 1,632 sqft
    2018-10-01 0 days 1,602 sqft
    2018-11-01 0 days 1,601 sqft
    2018-12-01 0 days 1,595 sqft
    2019-01-01 0 days 1,542 sqft
    2019-02-01 0 days 1,530 sqft
    2019-03-01 0 days 1,524 sqft
    2019-04-01 0 days 1,541 sqft
    2019-05-01 0 days 1,583 sqft
    2019-06-01 0 days 1,561 sqft
    2019-07-01 0 days 1,584 sqft
    2019-08-01 0 days 1,589 sqft
    2019-09-01 0 days 1,596 sqft
    2019-10-01 0 days 1,602 sqft
    2019-11-01 0 days 1,603 sqft
    2019-12-01 0 days 1,605 sqft
    2020-01-01 0 days 1,603 sqft
    2020-02-01 0 days 1,646 sqft
    2020-03-01 0 days 1,644 sqft
    2020-04-01 0 days 1,628 sqft
    2020-05-01 0 days 1,606 sqft
    2020-06-01 0 days 1,643 sqft
    2020-07-01 0 days 1,733 sqft
    2020-08-01 0 days 1,672 sqft
    2020-09-01 0 days 1,609 sqft
    2020-10-01 0 days 1,581 sqft
    2020-11-01 0 days 1,567 sqft
    2020-12-01 0 days 1,601 sqft
    2021-01-01 0 days 1,547 sqft
    2021-02-01 0 days 1,520 sqft
    2021-03-01 0 days 1,494 sqft
    2021-04-01 0 days 1,566 sqft
    2021-05-01 0 days 1,429 sqft
    2021-06-01 0 days 1,603 sqft
    2021-07-01 0 days 1,572 sqft
    2021-08-01 0 days 1,675 sqft
    2021-09-01 0 days 1,617 sqft
    2021-10-01 0 days 1,542 sqft
    2021-11-01 0 days 1,449 sqft
    2021-12-01 0 days 1,409 sqft
    2022-01-01 0 days 1,527 sqft
    2022-02-01 0 days 1,556 sqft
    2022-03-01 0 days 1,575 sqft
    2022-04-01 0 days 1,811 sqft
    2022-05-01 0 days 1,796 sqft
    2022-06-01 0 days 1,696 sqft
    2022-07-01 0 days 1,657 sqft
    2022-08-01 0 days 1,670 sqft
    2022-09-01 0 days 1,695 sqft
    2022-10-01 0 days 1,674 sqft
    2022-11-01 0 days 1,535 sqft
    2022-12-01 0 days 1,553 sqft
    2023-01-01 0 days 1,575 sqft
    2023-02-01 0 days 1,706 sqft
    2023-03-01 0 days 1,762 sqft
    2023-04-01 0 days 1,817 sqft
    2023-05-01 0 days 1,791 sqft
    2023-06-01 0 days 1,853 sqft
    2023-07-01 0 days 1,848 sqft
    2023-08-01 0 days 1,678 sqft
    2023-09-01 0 days 1,569 sqft
    2023-10-01 0 days 1,599 sqft
    2023-11-01 0 days 1,730 sqft
    2023-12-01 0 days 1,652 sqft
    2024-01-01 0 days 1,758 sqft
    2024-02-01 0 days 1,818 sqft
    2024-03-01 0 days 1,672 sqft
    2024-04-01 0 days 1,634 sqft
    2024-05-01 0 days 1,674 sqft
    2024-06-01 0 days 1,778 sqft
    2024-07-01 0 days 1,773 sqft
    2024-08-01 0 days 1,780 sqft
    2024-09-01 0 days 1,721 sqft
    2024-10-01 0 days 1,709 sqft
    Richmond's median listing age (time on market) for 2024-10-01 was 0 days.

    Richmond's median square footage for active listings during the 2024-10-01 period was 1,709 sqft. One year prior, the average listing was 1,599 sqft.

    Richmond, IN Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 737 $355,405,000 $482,232
    Cash Out Refi 169 $746,275,000 $4,415,828
    Home Improvement 107 $5,495,000 $51,355
    Other 90 $6,050,000 $67,222
    Refi 56 $57,510,000 $1,026,964

    Richmond's most frequently cited loan purpose was Home Purchase, with 737 originations. The 2nd most popular reason was Cash Out Refi, with 169 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 457 $393,935,000 $862,002
    7-8% 331 $384,825,000 $1,162,613
    Over 8% 178 $370,570,000 $2,081,854
    5-6% 114 $14,800,000 $129,825
    <2.5% 50 $490,000 $9,800
    4-5% 7 $1,355,000 $193,571
    2.5-3% 2 $980,000 $490,000
    3-4% 1 $45,000 $45,000

    During 2023, Richmond's most frequently originated rate bucket was 6-7%, with 457 originations.

    Loan Sizing (Richmond, IN MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 580 $31,820,000 $54,862
    $100k-200k 416 $59,170,000 $142,236
    $200k-400k 128 $32,410,000 $253,203
    $400k-600k 19 $8,725,000 $459,211
    $Over $1MM 10 $1,034,090,000 $103,409,000
    $600k-1000k 6 $4,520,000 $753,333

    Richmond's loan sizing saw the bucket of loans from $100,000 or less with 580 originations, totaling $31,820,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 542 $81,560,000 $150,480
    60-80% 223 $30,675,000 $137,556
    Under 20% 149 $3,655,000 $24,530
    20-40% 126 $7,230,000 $57,381
    40-60% 79 $12,645,000 $160,063
    Over 100% 16 $863,020,000 $53,938,750

    Richmond's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 542 originations, totaling $81,560,000 in origination value.