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Market Report

Richmond

February 2025

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.

Summary

Klein Reports 2024
Residential City Market Reports
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Agents
Overview
Houses
Townhomes
Condos
Neighbourhoods Statistics
Account Benefits

Richmond Specialists

Richmond Overview

Sales-to-Active Ratio

Single Family Houses


4%

Buyers Market

Single Family Townhouses


4%

Buyers Market

Single Family Condos


6%

Buyers Market

HPI Benchmark Price (Average Price)

Houses

$2,857,500

33.7%
Higher Than Last Month
January 2025
16.9%
Higher Than Last Year
February 2024

Townhomes

$1,258,667

9.2%
Higher Than Last Month
January 2025
2.9%
Higher Than Last Year
February 2024

Condominiums

$633,693

-7.6%
Lower Than Last Month
January 2025
-17.1%
Lower Than Last Year
February 2024

Market Share

This Month

25.0%
Single Family Houses
12.5%
Single Family Townhouses
62.5%
Single Family Condos

Last Month

18.2%
Single Family Houses
21.8%
Single Family Townhouses
60.0%
Single Family Condos

Last 12 Months

29.1%
Single Family Houses
22.4%
Single Family Townhouses
48.4%
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.
4%

Buyer's Market

Balanced Market

Seller's Market

4%

Of Single Family 
House Listings Sold
IN PAST 30 DAYS

140

Active Single Family 
House Listings
IN PAST 30 DAYS

6

Single Family 
House Listings Sold
IN PAST 30 DAYS

Summary of Sales Price Change

34%

Higher Than
Last Month
January 2025

17%

Higher Than
Last Year
February 2024

Summary of Sales Volume Change

-70%

Lower Than
Last Month
January 2025

-92%

Lower Than
Last Year
February 2024

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.
4%

Buyer's Market

Balanced Market

Seller's Market

4%

Of Single Family 
Townhouse Listings Sold
IN PAST 30 DAYS

85

Active Single Family 
Townhouse Listings
IN PAST 30 DAYS

3

Single Family 
Townhouse Listings Sold
IN PAST 30 DAYS

Summary of Sales Price Change

9%

Higher Than
Last Month
January 2025

3%

Higher Than
Last Year
February 2024

Summary of Sales Volume Change

-88%

Lower Than
Last Month
January 2025

-95%

Lower Than
Last Year
February 2024

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.
6%

Buyer's Market

Balanced Market

Seller's Market

6%

Of Single Family 
Condo Listings Sold
IN PAST 30 DAYS

253

Active Single Family 
Condo Listings
IN PAST 30 DAYS

15

Single Family 
Condo Listings Sold
IN PAST 30 DAYS

Summary of Sales Price Change

-8%

Lower Than
Last Month
January 2025

-17%

Lower Than
Last Year
February 2024

Summary of Sales Volume Change

-77%

Lower Than
Last Month
January 2025

-88%

Lower Than
Last Year
February 2024

Sales Price

Sales-to-Active Ratio

Number of Transactions

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O 604 684 8844
T 866 352 9311
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Canada V5T 1W5

 

 

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Royal LePage Westside 
Klein Group

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Head Office

O 604 684 8844
T 866 352 9311
F 1 855 684 8844

201 - 2468 Scotia Street
Vancouver, BC
Canada V5T 1W5

Head Office

O 604 684 8844
T 866 352 9311
F 1 855 684 8844

201 - 2468 Scotia Street
Vancouver, BC
Canada V5T 1W5

The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. 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. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
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