Richmond in September 2026
Richmond’s composite benchmark price was $1,015,800 in September 2026, down 6.8% year over year and 0.9% month over month. The city recorded 223 home sales in September: 65 detached, 48 attached/townhouse, and 110 apartment/condo.
GVR does not publish Richmond-specific active listings or months-of-supply figures, so a Richmond-specific buyer’s/seller’s market determination cannot be shown on this page. For regional context: across Metro Vancouver overall, the sales-to-active listings ratio was 10.9% in September 2026 — below the 12% line under GVR’s own thresholds (below 12% = buyer’s, 12–20% = balanced, above 20% = seller’s) — with active listings sitting 24.3% above their 10-year seasonal average. This is a Metro Vancouver-wide figure, not specific to Richmond.
Source: Greater Vancouver REALTORS® (GVR), MLS® Home Price Index, September 2026, and GVR news release, October 2, 2026.
New to buying in the Lower Mainland? Read our First-Time Buyer Guide for a step-by-step overview.
Benchmark Prices — Richmond
All three property categories declined year over year, with apartments seeing the steepest benchmark drop at 9.1%. The benchmark price reflects a typical property for the area and property type.
| Property Type | Benchmark (HPI) | MoM | YoY |
|---|---|---|---|
| Composite (All Types) | $1,015,800 | ▼ 0.9% | ▼ 6.8% |
| Detached | $1,871,100 | ▼ 2.8% | ▼ 8.5% |
| Townhouse / Attached | $1,025,000 | ▲ 0.3% | ▼ 2.3% |
| Apartment / Condo | $635,600 | ▲ 0.4% | ▼ 9.1% |
Source: Greater Vancouver REALTORS® (GVR), MLS® Home Price Index, September 2026.
September 2026 Sales & Median Selling Price
Median selling price is a different statistic from benchmark price — median is the midpoint of actual sales in the month, while benchmark is quality-adjusted for a "typical" home. The two should not be compared directly.
| Property Type | Sales | Median Selling Price |
|---|---|---|
| Detached | 65 | $1,765,000 |
| Attached | 48 | $930,500 |
| Apartment | 110 | $591,500 |
| Total | 223 | — |
Source: Greater Vancouver REALTORS®, MLS® Sales Facts, September 2026.
What's Driving the Market
The following context is Metro Vancouver-wide, per GVR's regional reporting — not specific to Richmond.
Regional sales momentum: Metro Vancouver recorded 1,717 home sales in September 2026, down 8.4% from September 2025 and 25.0% below the 10-year seasonal average of 2,289. GVR chief economist Andrew Lis noted: “While sales were down about eight per cent overall in September, this figure hides the fact the weakness is contained to the sizeable apartment segment, which typically accounted for half of sales in any given month in recent years.”
Interest rates and qualifying: The Bank of Canada's overnight rate held at 2.25% through mid-2026, with 5-year fixed rates settling around 4.29–4.69%. Buyers still need to qualify under OSFI's B-20 stress test — see our guide to the 2026 stress test rules for how that affects how much you can borrow.
Listings supply: Regionally, new listings were 5,852 in September 2026 (down 10.3% year over year, but 5.7% above the 10-year seasonal average) and active listings were 16,394 (down 4.0% year over year, but 24.3% above the 10-year seasonal average) — meaning sellers are listing at a busier-than-usual pace for the month while buyer demand has softened.
Source: Greater Vancouver REALTORS® (GVR) news release, October 2, 2026.
Key Terms
Richmond Rents — September 2026
Average asking rent for apartments and condos in Richmond was $2,572/month in September 2026, according to Rentals.ca — the second-highest among the top 25 markets outside Canada’s six largest, though down 8.4% from a year earlier. No confirmed 1-bedroom/2-bedroom breakdown is available for Richmond, so only the all-unit-types figure is shown here.
Source: Rentals.ca National Rent Report, October 2026 edition (September 2026 data), published October 7, 2026.
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