Market Updates | August 2018

August Market Update

View the below price analysis for August 2018 in Richmond. It includes detailed information on detached homes, condos and townhomes. Check out the current market trends!

Market Summary for Detached

  • Buyers Market at 7% Sales Ratio average (7 in 100 homes selling rate)
  • Homes are selling on average 9% below list price
  • Most Active Price Band”* $1 mil to $1.25 mil with average 32% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $2.75 mil to $3 mil, Woodwards and 5 to 6 bedroom properties
  • Sellers Best Bet** Selling homes in Steveston South and minimum 7 bedroom properties
**with a minimum inventory of 10 in most instances
Detached | Richmond Real Estate Market Update

Market Summary for Attached

  • Sellers Market at 25% Sales Ratio average (2.5 in 10 homes selling rate)
  • Homes are selling on average 2% below list price
  • Most Active Price Band** $300,000 to $400,000 with average > 100% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $1.25 mil to $1.75 mil, Bridgeport, Steveston Village and minimum 3 bedroom properties
  • Sellers Best Bet** Selling homes in Boyd Park, Terra Nova, West Cambie and minimum 3 bedroom properties
**with a minimum inventory of 10 in most instances
Attached | Richmond Real Estate Market Update

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Source: SnapStats® Publishing Co. Graphs represent the data comparison between Aug 2018 and July 2018.