If you’re watching Richmond and feeling like the market is harder to read… you’re not wrong.
We’re seeing more inventory, softer pricing, and buyers taking a more measured approach.
Here’s the shift Jason is seeing:
Richmond hasn’t lost demand. It’s become more price-sensitive.
What the numbers are showing (March 2026)
- Detached homes
- Benchmark price: $1,974,200 (↓ 9.3% year-over-year)
- Days on market: 64 days (up 68.4%)
- Condos
- Benchmark price: $674,700 (↓ 9.2%)
- Sales: down 13.1% year-over-year
- Townhomes
- Benchmark price: $1,037,500 (↓ 8.2%)
- Days on market: 49 days (up 75.0%)
What stands out
- Prices have adjusted across all property types
- Homes are taking longer to sell, especially detached
- Buyers are active, but far more selective
The data tells a clear story: buyers are still here, but they’re choosing carefully.
What this means in real terms
If you’re buying
- You have more time to evaluate options
- Negotiation is back on the table in many cases
- But the best homes still create competition
If you’re selling
- Buyers are benchmarking your home against many alternatives
- Overpricing leads to extended days on market
- Early positioning has a direct impact on final outcome
The plan (how Jason is advising clients)
- Price to current competition
Buyers are looking at what’s available now, not what sold last year - Expect longer timelines
Especially in detached and townhome segments - Focus on clean presentation
In a selective market, details matter more
What I’d watch for right now
- Risk: Pricing based on peak market expectations
- Safeguard: Monitor weekly listing activity and price adjustments
- Question to ask: “If I were a buyer today, would I feel confident choosing this home?”
The takeaway
Two things can be true.
Prices have softened, and opportunities have increased.
Richmond right now rewards clarity and discipline. Buyers who are prepared can negotiate. Sellers who are realistic can still achieve strong outcomes.
If this is you
- Moving within Richmond: aligning both sides of the transaction is key
- First-time buyer: more selection means more thoughtful decisions
- Seller unsure about timing: strategy matters more than waiting
Market conditions can vary by property type and micro-location, so decisions should always be based on current comparable listings, not just headline trends.
Contact Jason Ng directly for a more targeted consultation tailored to your timeline and goals.
Jason Ng
604-351-0388