Richmond in August 2026
Richmond’s composite benchmark price was $1,025,100 in August 2026, down 7.3% year-over-year and 0.1% month-over-month. The city recorded 221 home sales in August: 48 detached, 62 attached/townhouse, and 111 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 12.3% in August 2026 — right at the boundary of buyer’s-market territory under GVR’s own thresholds (below 12% = buyer’s, 12–20% = balanced, above 20% = seller’s) — with active listings sitting 26.2% 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, August 2026, and GVR news release, September 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 9.6%. The benchmark price reflects a typical property for the area and property type.
| Property Type | Benchmark (HPI) | MoM | YoY |
|---|---|---|---|
| Composite (All Types) | $1,025,100 | ▼ 0.1% | ▼ 7.3% |
| Detached | $1,925,400 | ▲ 0.7% | ▼ 7.8% |
| Townhouse / Attached | $1,022,200 | ▼ 1.3% | ▼ 4.1% |
| Apartment / Condo | $633,300 | ▼ 1.0% | ▼ 9.8% |
Source: Greater Vancouver REALTORS® (GVR), MLS® Home Price Index, August 2026.
August 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 | 48 | $1,638,000 |
| Attached | 62 | $965,000 |
| Apartment | 111 | $580,000 |
| Total | 221 | — |
Source: Greater Vancouver REALTORS®, MLS® Sales Facts, August 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 1,869 home sales in August 2026, down 4.6% from August 2025 and 20.7% below the 10-year seasonal average of 2,356. GVR chief economist Andrew Lis noted: “The soft August sales data suggest the modest downward revisions we recently made to our 2026 forecast were a timely and prudent decision. The market’s performance matched our expectations for the first four months of 2026, but since May, sales have lagged our January forecast, and we expect that trend to persist to the end of the year.”
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 4,100 in August 2026 (down 3.0% year-over-year) and active listings were 15,798 (down 2.7% year-over-year, but 26.2% above the 10-year seasonal average) — meaning sellers are listing at a fairly typical pace while buyer demand has softened.
Source: Greater Vancouver REALTORS® (GVR) news release, September 2, 2026.
Key Terms
Richmond Rents — July 2026
Average asking rent across all unit types in Richmond was $2,537/month in July 2026. 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, July 2026 (published August 6, 2026).
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