Market Report

Richmond

October 2024

Sources: Real Estate Board of Greater Vancouver, Commercial Edge; Canadian Real Estate Association, MLS®; Altus Group; Statistics Canada; Landcor; RealNet.

Disclaimer: Data has been obtained from sources considered to be reliable as of the Report Date. However, no representation or warranty, expressed or implied, is made as to the accuracy of any of the information, projections or conclusions contained herein, and the same is submitted subject to errors and omissions, without any obligation to up date or correct.

Richmond Houses Townhomes Condos

Summary

Klein Reports 2024

Residential City Market Reports

Neighbourhoods Statistics

Account Benefits

Richmond Specialists

Bready Wu

Text Call

Richmond Overview

Sales-to-Active Ratio

Single Family Houses

5%

Buyers Market

Single Family Townhouses

5%

Buyers Market

Single Family Condos

8%

Buyers Market

HPI Benchmark Price (Average Price)

Houses

$2,422,226

7.6%

Higher Than Last Month

September 2024

4.5%

Higher Than Last Year

October 2023

Townhomes

$1,095,556

-10.2%

Lower Than Last Month

September 2024

1.7%

Higher Than Last Year

October 2023

Condominiums

$669,591

-4.6%

Lower Than Last Month

September 2024

-6.1%

Lower Than Last Year

October 2023

Market Share

This Month

21.8%

Single Family Houses

16.4%

Single Family Townhouses

61.8%

Single Family Condos

Last Month

20.7%

Single Family Houses

20.0%

Single Family Townhouses

59.3%

Single Family Condos

Last 12 Months

25.9%

Single Family Houses

19.5%

Single Family Townhouses

54.6%

Single Family Condos

Single Family Houses

5 Year Trend

Market Status

Buyers Market

  Richmond is currently a Buyers Market. This means that less than 12% of listings are sold within 30 days. Buyers may have a slight advantage when negotiating prices.

Buyer's Market

Balanced Market

Seller's Market

5%

Of Single Family
House Listings Sold

IN PAST 30 DAYS

248

Active Single Family
House Listings

IN PAST 30 DAYS

12

Single Family
House Listings Sold

IN PAST 30 DAYS

Summary of Sales Price Change

8%

Higher Than
Last Month

September 2024

5%

Higher Than
Last Year

October 2023

Summary of Sales Volume Change

-59%

Lower Than
Last Month

September 2024

-75%

Lower Than
Last Year

October 2023

Sales Price

Sales-to-Active Ratio

Number of Transactions

Single Family Townhomes

5 Year Trend

Market Status

Buyers Market

  Richmond is currently a Buyers Market. This means that less than 12% of listings are sold within 30 days. Buyers may have a slight advantage when negotiating prices.

Buyer's Market

Balanced Market

Seller's Market

5%

Of Single Family
Townhouse Listings Sold

IN PAST 30 DAYS

171

Active Single Family
Townhouse Listings

IN PAST 30 DAYS

9

Single Family
Townhouse Listings Sold

IN PAST 30 DAYS

Summary of Sales Price Change

-10%

Lower Than
Last Month

September 2024

2%

Higher Than
Last Year

October 2023

Summary of Sales Volume Change

-68%

Lower Than
Last Month

September 2024

-75%

Lower Than
Last Year

October 2023

Sales Price

Sales-to-Active Ratio

Number of Transactions

Single Family Condos

5 Year Trend

Market Status

Buyers Market

  Richmond is currently a Buyers Market. This means that less than 12% of listings are sold within 30 days. Buyers may have a slight advantage when negotiating prices.

Buyer's Market

Balanced Market

Seller's Market

8%

Of Single Family
Condo Listings Sold

IN PAST 30 DAYS

427

Active Single Family
Condo Listings

IN PAST 30 DAYS

34

Single Family
Condo Listings Sold

IN PAST 30 DAYS

Summary of Sales Price Change

-5%

Lower Than
Last Month

September 2024

-6%

Lower Than
Last Year

October 2023

Summary of Sales Volume Change

-59%

Lower Than
Last Month

September 2024

-66%

Lower Than
Last Year

October 2023

Sales Price

Sales-to-Active Ratio

Number of Transactions

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