Richmond Real Estate Market Report
Executive Summary
Ashley LeLocal expert · RichmondThe Richmond, British Columbia real estate market is currently classified as a buyer's market. The MLS composite benchmark price is $1.1M, down 6.0% year-over-year.
There are currently 2,343 active listings, representing 7.6 months of inventory. According to Greater Vancouver REALTORS (HPI), there were 263 sales and 691 new listings in June 2026. Inventory has increased 37.3% compared to last month.
Currently, listings spend an average of 79 days on market and the average price per square foot is $801.
Board Data vs Our Listings
| Metric | Greater Vancouver REALTORS (HPI) | Our Listings |
|---|---|---|
| Benchmark / Median Price | $1.1M | $999K |
| Active Listings | 1,999 | 2,343 |
| Detached Benchmark | $1.8M | $2.5M |
| Townhouse Benchmark | $1.0M | $880K |
| Apartment Benchmark | $695K | $880K |
Detached properties make up the largest share of the Richmond market at 36% of active listings with an average price of $2.5M. Condo listings follow at 64% (avg $880K).
Sales Activity & Absorption
Volume
Market Signals
Greater Vancouver REALTORS (HPI) reported 263 sales this period, 643 new listings appeared in the past month.
Market Balance
Months of Inventory
Supply and demand are roughly balanced.
With 7.6 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 | 531 | $885K |
| West Cambie | 361 | $1.0M |
| Brighouse South | 141 | $826K |
| McLennan North | 103 | $1.2M |
| Hamilton RI | 83 | $1.0M |
| Ironwood | 80 | $1.6M |
| East Cambie | 77 | $1.5M |
| Steveston South | 76 | $1.3M |
| Granville | 65 | $1.9M |
| Broadmoor | 65 | $2.1M |
| Steveston North | 61 | $1.7M |
| East Richmond | 56 | $2.9M |
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 2,343 active listings with a median price of $999K and 7.6 months of inventory.
According to Greater Vancouver REALTORS (HPI), the composite benchmark price is $1.1M (-6.0% year-over-year). There were 263 sales recorded
- High inventory (7.6 months) favors buyers
- Prices declining (-33.4% in 30 days)
- Low price reduction rate (0% of listings)
- Low sell-through rate (38%)
- Slow-moving market (79 avg days on market)
- Average price per square foot is $801
Data sourced from CREA DDF® active and sold listings. Metrics computed from listing data updated daily, with board statistics from Greater Vancouver REALTORS (HPI). Prepared by Ashley Le with AI assistance, reviewed by our team.
Market data is calculated from active and recently sold MLS® listings as of July 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.