Richmond BC Real Estate: Condo Prices Down 9%, Houses Below $1.9M (October 2026)

The typical Richmond condo on EstateBlock has been listed for 71 days. That's the longest of any city EstateBlock tracks in Greater Vancouver and the Fraser Valley, narrowly ahead of Tsawwassen (70 days), and it fits the price data: the Richmond apartment benchmark is down 9.1% in a year, to $635,600.

That's a bigger drop than Greater Vancouver as a whole (−6.2%), Vancouver West, or any of Burnaby's three areas. Richmond houses aren't far behind. The detached benchmark is $1,871,100, down 8.5% on the year and 2.8% in September alone.

There's a twist in the sales numbers, though. Richmond condo sales were up in September from a year earlier, and new condo listings were down 20%. Below is what Greater Vancouver REALTORS® (GVR) reports for Richmond, 13 months of trend, and what's for sale right now.

Benchmarks: Greater Vancouver REALTORS®, September 2026 stats package, MLS® HPI. Days listed and condo count: EstateBlock snapshot, October 14, 2026 (active listings).

Richmond condos fell further than almost anywhere

Only Tsawwassen (−12.2%) and Ladner (−10.5%) posted bigger one-year apartment declines, and both are small condo markets. Richmond sold 110 apartments in September; GVR's South Delta area, which covers Ladner and Tsawwassen, sold 12. Among the big condo markets, Richmond is at the bottom of the table.

Why Richmond? I can't prove a cause from these tables, but two things stand out. Richmond has a large stock of newer concrete towers around Brighouse and the Canada Line, and it had 961 of the 4,376 completed-but-unsold new condos CMHC counted across Metro Vancouver in May 2026 (more on that below). New condos that won't sell at their launch price end up competing with resale units in the same blocks.

Richmond prices by property type

Source: Greater Vancouver REALTORS®, September 2026 stats package, MLS® Home Price Index tables.

The benchmark is GVR's price for a "typical" home of each type, so it isn't thrown around by which homes happen to sell in a given month. Three things in this table matter if you own in Richmond.

First, townhouses are holding. The Richmond townhouse benchmark is down 2.3% in a year and was up 0.3% in September, while Greater Vancouver townhouses are down 4.7%. Second, Richmond detached houses ($1,871,100) are still about $86,400 above the Greater Vancouver benchmark ($1,784,700), but falling faster (−8.5% against −7.3%). Third, the three-year numbers: every Richmond type is down at least 10% from three years ago, which is worse than Greater Vancouver's composite (−10.0%).

Month by month

The detached benchmark was $2,044,800 in GVR's September 2025 release and $1,871,100 a year later, about $173,700 less on first-published numbers. It slid in almost every month and took its biggest single step down in September (−2.8%). My read: Richmond house sellers are still meeting the market a few months late.

The two lines tell different stories. Townhouses moved inside a narrow band, between $1,022,200 and $1,078,200. Apartments fell from $704,600 to a low of $633,300 in August, then ticked up to $635,600 in September. One month up is not a turn. It's worth watching in the October numbers, which GVR publishes in early November.

Sales and listings: buyers are back at lower prices

For the year, Richmond sales are close to 2025. Detached sales are identical (478 both years), townhouses are up 1.4%, and apartments are down 6.8%. That's a much smaller condo slump than Burnaby's, where apartment sales are down 14%.

September had 110 apartment sales, up 18% from 93 a year earlier, while new apartment listings fell from 346 to 278. Year to date, new apartment listings are down 14%. Fewer owners are listing, and more of what does get listed is selling.

Source: Greater Vancouver REALTORS®, September 2026 stats package, MLS® Sales Facts and Listings Facts.

All three ratios rose from a year ago. This is the ratio of sales to new listings in the month, not the sales-to-active ratio GVR uses for its buyer's and seller's market lines, so don't read it against the 12% and 20% thresholds. It does tell you the direction: Richmond is tighter than it was last September. My read: lower prices are pulling buyers in, and some owners who don't have to sell have stopped listing.

Source: Greater Vancouver REALTORS®, September 2026 stats package, MLS® Sales Facts. Medians shift with the mix of homes that sold; use the benchmark for value.

The median detached sale price fell 13.4% to $1,765,000. On 65 sales, a few big lots or new builds more or less can swing that, so I wouldn't price a house off it. The benchmark's −8.5% is the steadier number.

What's for sale right now

This is EstateBlock's Richmond page on October 14, 2026. These are asking prices on active listings, not sale prices.

Source: EstateBlock.com live listings, snapshot taken October 14, 2026 (active listings, asking prices).

168 Richmond listings have cut their price, 8.5% of all 1,976 listings, and the average cut is 9.4%. On a house asking the median $2,280,000, a cut that size is about $214,320. Notice the house asking median ($2,280,000) is well above September's median detached sale price ($1,765,000). Part of that is mix, since the priciest homes sit longest, and part is sellers asking more than the market is paying.

Richmond condos have been on the market longer than condos in any other city here. Port Coquitlam (34 days) and North Vancouver (35) are at the other end. Long listing times are a negotiating fact: a seller whose unit has sat for two or three months usually knows the asking price isn't working.

Source: EstateBlock.com neighbourhood condo pages, snapshot taken October 10, 2026 (active listings, asking prices).

Brighouse, the city-centre area around Richmond-Brighouse and Lansdowne stations, has 466 condos for sale on its own, about half of Richmond's condo listings. West Cambie, around Capstan and Aberdeen stations, has 156, and they move faster there (median 53 days against 79 in Brighouse). Brighouse South asks about $327 a square foot less than Brighouse, and its median condo has been listed 81 days.

Source: EstateBlock.com live listings, snapshot taken October 14, 2026 (active listings, asking prices). All property types.

As a rough supply gauge, divide what's listed now by September's sales: about 8 months of condos, 9 of houses and 8 of townhouses. That mixes EstateBlock's October 14 listings with GVR's September sales count, so it's a ballpark. Even so, all three sit in the range where buyers have time to compare.

Unsold new condos

CMHC counted 4,376 completed condo apartments in the Vancouver area that hadn't sold by May 2026, a record. By city, Richmond had 961 of them, second only to Burnaby (1,179) and ahead of Coquitlam (602) and the City of Vancouver (457). The city figures are the Canadian Centre for Policy Alternatives' tally of CMHC data.

Why this matters for a resale buyer: a builder with finished, unsold units is a motivated seller, and some will negotiate on price, incentives or closing dates. For a resale seller in a newer tower, those units are competition. I go through the wider condo picture, including presales, in the Vancouver condo market post.

The Cowichan title case

Most Richmond buyers this year will have heard about it. In August 2025 a B.C. Supreme Court judge ruled that Cowichan Tribes hold Aboriginal title over about 740 acres of land in southeast Richmond. The court called that title a "senior and prior interest" and said fee simple interests on the land "may not be exercised in their fullest form", though the ruling did not cancel anyone's registered ownership.

Canada, the Province, the City of Richmond, Musqueam and Tsawwassen First Nations appealed, and Cowichan Tribes appealed too, seeking all 1,846 acres they had claimed. On June 29, 2026 the judge dismissed an application by Montrose Properties, which owns roughly 40% of the land in the ruling, to reopen the trial, and Montrose said on July 21 it would appeal (Daily Hive). Separately, on May 28, 2026 the Supreme Court of Canada declined to hear a New Brunswick case, leaving in place a ruling that Aboriginal title can't be declared over privately owned land there; Ottawa said it will inform arguments in the Cowichan case, and B.C.'s attorney general said it gives the Province a "clear path" on its appeal (CP24).

The area in the ruling is a small part of Richmond, and the GVR numbers above don't separate it out, so I can't tell you whether it has moved prices. If you're buying or financing a property in or near the claim area, ask your lawyer and lender about it before you remove subjects. This is general information, not legal advice; confirm your own situation with a lawyer.

The 10-year view

Over ten years, a Richmond detached house has gained just 3.2% on the benchmark. Richmond apartments are up 56.9% over the same decade, more than Greater Vancouver apartments (+36.8%), even after this year's drop. Townhouses are up 39.7%.

So a Richmond condo owner who bought ten years ago is still well ahead. The owner who bought three years ago is down about 14% on the benchmark, before costs. Same city, same product, very different experience depending on the purchase year.

What I'd do with this