Richmond Real Estate Market Trends

See a current overview of the housing market with Strawhomes' Richmond real estate market trends. If you're curious about your city's average house price, housing inventory, or how long it takes to sell a home, all this has now been broken down for you. Our home price data is always updated. This report goes over sales history between October 1 - October 31 and measures it against the same period last year. These real estate statistics are paired with rankings of all cities in the Greater Vancouver area based on home sold price, price growth, days on market, and turnover. This way, you get to see the Richmond housing market on a larger scale, and how it contrasts with other cities in the metro area. All this data is intended to give you a thorough understanding of both the local Richmond and the Greater Vancouver area, so that in the end, you'll be able to make a well-informed decision about where you'd like to live. In addition to our market analysis, consider referencing other MLS® stats, like the MLS® Home Price Index, to get a more rounded view of the market.

Prices are based on when an offer is accepted; sales counts are based on when the transaction completes.

Average and median sold prices reflect sales that went under contract (offer accepted) during the month, per MLS® data — this keeps price statistics as fresh as possible. Half Duplex records are included in all-types price averages. Sales counts and the sales volume chart reflect transactions that went firm in the month, which aligns with real estate board published counts. Contracts normally complete about 6-8 weeks after the offer is accepted. Days on market is the median number of days from listing to accepted offer for sales completing in the month. Inventory counts listings on market during the month, and months of inventory is inventory divided by completed sales.

Data is reported in calendar month periods.

Calendar month periods are used because they align with standard real estate board reporting. This ensures that each period covers the same complete month so that a like-for-like comparison can be made.

What does completed-month reporting mean?

Based on historical reporting, it can take up to four weeks or more for transactions to be reported. This means that some home transactions that occurred within this period have yet to be included in this report. Because of this, we only display statistics for fully completed calendar months.

The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.