Richmond Housing Market & Real Estate Trends
The Richmond Housing Market combines high-density condos and mixed-use development around the Canada Line with established detached-home neighbourhoods, Steveston waterfront communities and rural properties in East Richmond. These Richmond Market Statistics track Richmond Home Prices, sales, inventory, new listings and sales-to-active-listings ratios by property type so buyers and sellers can see how the Richmond Real Estate Market is changing.
Richmond Real Estate Prices can vary considerably between a City Centre condo, a Steveston townhouse, an established detached home in Broadmoor or Seafair, and an acreage in East Richmond. Richmond Housing Prices, Richmond Sold Prices and a Richmond Average House Price are therefore more useful when interpreted within the relevant property type and location, while Richmond Real Estate Statistics provide the broader trend. Use the charts below to compare current conditions, then explore Richmond Homes for Sale to compare active listings with the market data and watch our monthly Market Statistics videos for additional regional commentary.
How to Read Richmond Market Charts
Interpreting these charts is not difficult, but it might take a few minutes of study the first time you look.
MLS® HPI Price: Indicates the current sale price of a “representative” house, condo or townhouse. The exact number isn’t what’s important here – look at the trends to assess how the market is moving relative to the past three years.
Median Sales Price: The median sales price is the middle price of all homes sold in a specific period. Half of the sales were above this price, and half were below. It reflects the actual prices buyers and sellers agreed on, but it can swing up or down depending on what types of homes happened to sell that month (e.g., more luxury homes or more entry-level units).
Total Inventory: The total number of homes currently listed for sale at the end of the month. This shows how much supply is available in the market. Rising inventory usually signals more selection for buyers, while declining inventory can indicate tightening conditions and increased competition.
New Listings: The number of homes that were newly added to the market during the month. This shows how much fresh supply is entering the market. Higher levels of new listings mean more options for buyers, while lower levels can signal limited selection and increased competition for available homes.
Sales: The total number of homes that successfully sold during the month. The stronger the market, the greater the number of sales!
Sales to Active Ratio: This ratio is widely used by industry insiders to quantify the strength of the market. It represents the percentage of the available inventory that is sold each month. Generally speaking, a ratio of below 0.12 indicates a slow market (“a buyer’s market”), while a ratio of over 0.20 indicates a hot market (“a seller’s market”), with many more buyers than sellers and intense competition for properties. A ratio between 0.12 and 0.20 reflects a “balanced” market, where the number of sellers and the number of buyers are roughly balanced.
Find more in depth reports below.
Where These Richmond Real Estate Statistics Come From
Greater Vancouver REALTORS® (GVR) publishes the market data used in the charts on this page and includes Richmond within its reporting area. The charts track Richmond Home Prices and market activity for detached homes, townhouses and condos across the Richmond Housing Market.
These Richmond Real Estate Statistics are updated as new monthly data becomes available. Reviewing several months of Richmond Market Statistics provides better context than relying on one month alone, especially when Richmond Real Estate Prices are being influenced by different property types and local submarkets. Richmond Housing Prices should therefore be read as a broader trend rather than as a substitute for comparable sales in a specific neighbourhood. For broader regional comparisons, see our Market Statistics page.