Real Estate Market Report for
Richmond, BC

Updated : Aug 2016
House
  • Median price $998,000
  • Monthly growth 26.57 %
  • Quarterly trend
  • Stock on market 0.71%
Apartment
  • Median price $479,444
  • Monthly growth 8.63 %
  • Quarterly trend
  • Stock on market 0.61%
Richmond Home Price

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Canada’s national median home listing price this month is $290,900, which means that Richmond is in the top 20% for Canada.

While the median for British Columbia is $519,000 , which means that Richmond’s median price is $998,000 considerably better than the rest of the province.

How big are the houses being sold in Richmond? This month there are 5 one bedroom 46 two bedroom 222 three bedroom 146 four bedroom 61 five bedroom homes on the market.

According to our stats, Richmond is the neighbourhood that has the 7th most properties available to real estate investors in British Columbia.

It’s never an exact art, but to try to forecast how property is going to appreciate in Richmond for investors, it’s important to look at data like:

It’s always hard to tell what property prices will do over the coming months, but over the last three months the properties available for purchase in Richmond have dried up which would tend to indicate that demand is higher than the supply of new properties.

Across the nation CREW lists data for 1054 neighbourhoods, and this month Richmond is number 47 putting it ahead of most neighbourhoods .

In Aug the median listed house price of $479,444 in Richmond was an impressive compared to the rest of British Columbia.

In province, the most common property on the listings this month has 2 bedrooms, in this neighbourhood it’s 2.

According to our stats, Richmond is the neighbourhood that has the 4th most properties available to real estate investors in British Columbia.

When we look at the data we have, it can help with trying to establish whether or not Richmond is a good investment target.

Over the last three months in Richmond, housing stock available seems to be falling – this could mean that homes values might increase faster.

Beds Median price (House) Median price (Apartment)
1 bedroom $149,000 $329,000
2 bedrooms $709,450 $532,450
3 bedrooms $868,000 $648,500
4 bedrooms $1,326,500 $989,000
5 bedrooms $1,488,888 $1,344,000
6 bedrooms $1,569,444 $1,388,000
Demographics
  • Population in 2011190473
  • Population in 2006174461
  • 2006 to 2011 population change (%)9.2
  • Total private dwellings71170
  • Private dwellings occupied by usual residents67976
  • Population density per square kilometre1473.5
  • Land area (square km)129.27
  • Age Characteristics
    Total population by age groups 190475
    0 to 4 years 8395
    5 to 9 years 8855
    10 to 14 years 10110
    15 to 19 years 12535
    15 years 2445
    16 years 2450
    17 years 2460
    18 years 2610
    19 years 2570
    20 to 24 years 13680
    25 to 29 years 12740
    30 to 34 years 11160
    35 to 39 years 11720
    40 to 44 years 14510
    45 to 49 years 16640
    50 to 54 years 16490
    55 to 59 years 14910
    60 to 64 years 12720
    65 to 69 years 8010
    70 to 74 years 6195
    75 to 79 years 5030
    80 to 84 years 3595
    85 years and over 3175
    Median age of the population 42.1
    % of the population aged 15 and over 85.6
  • Marital Status
    Total population 15 years and over by marital status 163115
    Married or living with a common-law partner 97050
    Married (and not separated) 90625
    Living common-law 6420
    Not married and not living with a common-law partner 66070
    Single (never legally married) 46305
    Separated 3285
    Divorced 8855
    Widowed 7625
    Family Characteristics
    Total number of census families in private households 55400
    Size of census family: 2 persons 23515
    Size of census family: 3 persons 15400
    Size of census family: 4 persons 12515
    Size of census family: 5 or more persons 3970
    Total number of census families in private households 55400
    Total couple families by family structure and number of children 46480
    Married couples 43270
    Without children at home 15710
    With children at home 27565
    1 child 12255
    2 children 11580
    3 or more children 3725
    Common-law couples 3210
    Without children at home 2200
    With children at home 1005
    1 child 530
    2 children 355
    3 or more children 125
    Total lone-parent families by sex of parent and number of children 8920
    Female parent 7385
    1 child 4605
    2 children 2210
    3 or more children 570
    Male parent 1535
    1 child 1000
    2 children 400
    3 or more children 135
    Total children in census families in private households 62360
    Under six years of age 10065
    6 to 14 years 17105
    15 to 17 years 7105
    18 to 24 years 15675
    25 years and over 12415
    Average number of children at home per census family 1.1
  • Household And Dwelling Characteristics
    Total number of persons in private households 189305
    Number of persons not in census families 25060
    Living with relatives 5680
    Living with non-relatives only 5200
    Living alone 14180
    Number of census family persons 164245
    Average number of persons per census family 3
    Total number of persons 65 years and over in private households 25090
    Number of persons not in census families aged 65 years and over 7275
    Living with relatives 2210
    Living with non-relatives only 370
    Living alone 4700
    Number of census family persons aged 65 years and over 17815
    Total number of private households by household type 67975
    Census-family households 51680
    One-family-only households 43790
    Couple-family households 37070
    Without children 13970
    With children 23100
    Lone-parent-family households 6725
    Other family households 7885
    One-family households with persons not in a census family 4455
    Couple-family households 3510
    Without children 895
    With children 2620
    Lone-parent-family households 940
    Two-or-more-family households 3435
    Non-census-family households 16295
    One-person households 14175
    Two-or-more-person households 2120
    Total number of occupied private dwellings by structural type of dwelling 67980
    Single-detached house 25320
    Apartment, building that has five or more storeys 6950
    Movable dwelling 250
    Other dwelling 35455
    Semi-detached house 1695
    Row house 13445
    Apartment, duplex 4090
    Apartment, building that has fewer than five storeys 16210
    Other single-attached house 20
    Total number of private households by household size 67975
    1 person 14175
    2 persons 19830
    3 persons 13920
    4 persons 12145
    5 persons 4625
    6 or more persons 3275
    Number of persons in private households 189305
    Average number of persons in private households 2.8
Census 2011

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