Market data
Richmond, BC — Home Prices
What a typical home costs in Richmond, by property type, as of August 2026 — the benchmark price the board publishes each month, with a decade of the same month behind it.
Richmond home prices by property type
Benchmark price for August 2026, with how it moved over the month and over the year, and the supply and demand behind it.
| Property type | Benchmark price | Over the month | Over the year | Sales | Active listings | Months of inventory |
|---|---|---|---|---|---|---|
| Detached house | $1,925,400 | +0.7% | -7.8% | 49 | 590 | 11.6buyers’ territory |
| Townhouse | $1,022,200 | -1.3% | -4.1% | 59 | 360 | 7.8buyers gaining |
| Apartment / condo | $633,300 | -1.0% | -9.8% | 111 | 916 | 8.8buyers’ territory |
A benchmark is the board’s modelled typical home of that type, not an average of what sold — so a month with few sales still has one. Sales and active listings are counts for August 2026.
Richmond home prices, 2016 to 2026
The benchmark price each August, a decade back. Same month every year, so the comparison carries no seasonal distortion.
| August | Detached | Townhouse | Apartment |
|---|---|---|---|
| 2016 | $1,830,000 | $727,400 | $410,100 |
| 2017 | $1,849,400 | $811,400 | $519,600 |
| 2018 | $1,799,100 | $867,800 | $594,900 |
| 2019 | $1,570,600 | $789,500 | $537,000 |
| 2020 | $1,658,500 | $813,300 | $570,300 |
| 2021 | $1,939,300 | $939,500 | $627,900 |
| 2022 | $2,125,500 | $1,062,300 | $690,500 |
| 2023 | $2,204,600 | $1,134,300 | $735,500 |
| 2024 | $2,225,800 | $1,148,400 | $742,000 |
| 2025 | $2,088,800 | $1,065,600 | $702,400 |
| 2026 | $1,925,400 | $1,022,200 | $633,300 |
Over those 10 years detached moved from $1,830,000 to $1,925,400 — +5.2%, townhouse moved from $727,400 to $1,022,200 — +40.5%, and apartment moved from $410,100 to $633,300 — +54.4%.
Build your own Richmond chart — every property type and metric the board publishes, back to 2000.
Common questions about Richmond prices
- How much does a house cost in Richmond?
- The benchmark price for a detached house in Richmond is $1,925,400 as of August 2026, -7.8% over the year. The benchmark is the board's modelled typical home of that type, not an average of what sold.
- How much is a townhouse in Richmond?
- The benchmark price for a townhouse in Richmond is $1,022,200 as of August 2026, -4.1% over the year.
- How much is a condo in Richmond?
- The benchmark price for an apartment or condo in Richmond is $633,300 as of August 2026, -9.8% over the year.
- Have home prices gone up in Richmond over the last ten years?
- Between 2016 and 2026, detached moved from $1,830,000 to $1,925,400 (+5.2%), townhouse moved from $727,400 to $1,022,200 (+40.5%), apartment moved from $410,100 to $633,300 (+54.4%). Each figure is the benchmark price for the same calendar month, so the comparison carries no seasonal distortion.
- Is Richmond a buyers' or sellers' market?
- As of August 2026, detached sits at 11.6 months of inventory (buyers’ territory), townhouse sits at 7.8 months of inventory (buyers gaining), apartment sits at 8.8 months of inventory (buyers’ territory). Four months or less typically reads as sellers' territory, four to six balanced, six to eight buyers gaining leverage, and over eight buyers' territory.
How to read these numbers
The Home Price Index (HPI) benchmark is the industry-standard measure of typical home value in a defined market, mix-adjusted to control for the property types selling that month. Unlike a median, it compares like to like — a benchmark detached home this month against the same benchmark home last month — which is what makes month-over-month and year-over-year comparisons meaningful.
Months of inventory divides active listings by recent monthly sales. Four months or less typically reads as sellers’ territory, four to six balanced, six to eight buyers gaining leverage, and over eight buyers’ territory. Both metrics are aggregate; specific property types and price bands can read differently.
Benchmarks are aggregate figures — a specific property may transact above or below depending on lot, condition, age and the active buyer pool. Use the benchmark as the trend line, not the listing price. Source: Greater Vancouver REALTORS® monthly board release. Deemed reliable but not guaranteed.
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