Richmond Real Estate Market Report
Executive Summary
Brian SuicoLocal expert · RichmondThe Richmond, British Columbia real estate market is currently classified as a buyer's market. The MLS® composite benchmark price is $1.0M, down 7.9% year-over-year.
There are currently 2,011 active listings, representing 8.8 months of inventory. According to Greater Vancouver REALTORS (HPI), there were 227 sales and 554 new listings in July 2026. Inventory has increased 29.2% compared to last month.
Currently, listings spend an average of 45 days on market and the average price per square foot is $906.
Board Data vs Our Listings
| Metric | Greater Vancouver REALTORS (HPI) | Our Listings |
|---|---|---|
| Benchmark / Median Price | $1.0M | $1.0M |
| Active Listings | 2,019 | 2,011 |
| Detached Benchmark | $1.9M | $3.1M |
| Townhouse Benchmark | $1.0M | $1.2M |
| Apartment Benchmark | $640K | $772K |
Detached properties make up the largest share of the Richmond market at 35% of active listings with an average price of $3.1M. Condo listings follow at 40% (avg $772K).
Sales Activity & Absorption
Volume
Market Signals
Greater Vancouver REALTORS (HPI) reported 227 sales this period, 459 new listings appeared in the past month, 43 sellers reduced their asking price.
Market Balance
Months of Inventory
Demand moderately exceeds supply — conditions favor sellers.
With 8.8 months of inventory, buyers have more options and negotiating leverage. Sellers should price competitively and be prepared for longer marketing times.
Neighborhoods
| Area | Listings | Avg Price |
|---|---|---|
| Brighouse | 543 | $883K |
| West Cambie | 212 | $1.0M |
| Brighouse South | 133 | $733K |
| McLennan North | 108 | $1.2M |
| Granville | 74 | $1.8M |
| Hamilton RI | 73 | $992K |
| Steveston North | 66 | $1.7M |
| Steveston South | 65 | $1.2M |
| Riverdale RI | 65 | $2.3M |
| Broadmoor | 64 | $2.2M |
| Woodwards | 60 | $2.1M |
| Saunders | 56 | $2.0M |
Interest Rates & Affordability
Current Rates
Lower rates increase purchasing power. The Bank of Canada sets the policy rate which influences prime rates across lenders.
Estimated Monthly Payment
This is an estimate only. Actual rates and payments will vary based on your credit profile, lender, and mortgage terms.
Market Outlook
This is currently a buyer's market with more negotiating power for purchasers. The Richmond market currently has 2,011 active listings with a median price of $1.0M and 8.8 months of inventory.
According to Greater Vancouver REALTORS (HPI), the composite benchmark price is $1.0M (-7.9% year-over-year). There were 227 sales recorded
- High inventory (8.8 months) favors buyers
- Prices declining (-3.7% in 30 days)
- Low price reduction rate (2% of listings)
- Average price per square foot is $906
- Sold properties averaged -1 days on market
Data sourced from BCRES active and sold listings. Metrics computed from listing data updated daily, with benchmark and sales statistics from Greater Vancouver REALTORS (HPI). Prepared by Brian Suico with AI assistance, reviewed by our team.
Monthly Reports Archive
Market data is calculated from active and recently sold MLS® listings as of August 2026. Past performance does not guarantee future results. Consult a real estate professional for specific advice.
Data provided by CREA DDF. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA). Information deemed reliable but not guaranteed.