The Richmond Housing Market Forecasts and Trends

 


   Richmond  Market Reports and Forecasts  
  
  Previous Reports 

Richmond Market Update (Detached) namely: Lackner, Riverdale, Granville, Seafair, Broadmoor and all the sub-areas of Richmond Real Estate Market Update Report.

       What are Richmond's Best and Worst Investments?

Archive Peak to Date Price Changes

Jun 1, 2024

gas gauge

Current: Richmond is in a Stable Market with average Listings, 13 % SOLD rate and a 98% Sell/List Ratio.
                       (This means that there is an average of $40,000 Discount on a sale from the original list price)

Most Active Range: Homes below $1.65 mill. have 22.9 %SOLD  rate.
Least Active Range: Homes above $4 mill. have 4.5 %SOLD  rate.

History: The Richmond Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $49,728.
                The Richmond Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $38,591.
                *The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.

Forecast: Richmond has 498 homes are for sale and with the 13 %SOLD monthly rate gives us a ~8 months of inventory. 5% of the active listings have reduced their price by $116,923 on average or $100,000 median for the last month. We project Richmond now to be in a Stable market.

Greater Vancouver May 2024:

The cost of single-family homes in Greater Vancouver showed an average price increase of $9,848, which is just under the $11,953 increase seen in April. Some good news: the Canadian Prime Rate did drop .25% which is a moral booster for some but still.  housing market will only get stronger if mortgage rates go down enough to make homes more affordable and a 1/4 point drop will not do that. We forecast that the Metro Vancouver area is now a Buyer's Market and will be for months ahead.

60% of the condos and townhouses increased in price last month. The price of Condos last month was up $2,602 on average, while townhouses now cost $699 more on average. We believe that the condo and townhouse markets will peak now and hold steady for the next few months in Vancouver. 

For the latest market trends, join us every Saturday at noon on VancouverMarketReports.com. We discuss which areas in the Lower Mainland are doing well and which are not. For a complete update on market values, forecasts, and a detailed analysis of your neighborhood, contact Bill Coughlin and the Coughlin Team at 778-374-3744.

 

Fraser Valley May 2024:

The cost of single-family homes in Fraser Valley showed an average price increase of $1,063, which is down from the $4,367 increase seen in April. Some good news: the Canadian Prime Rate did drop .25% which is a moral booster for some but still.  housing market will only get stronger if mortgage rates go down enough to make homes more affordable and a 1/4 point drop will not do that. We forecast the Fraser Valley area will turn to a Buyer's Market this month. 

The price of Condos last month dropped by $3,920, while townhouses also declined by $2,562 on average. We believe that the condo and townhouse markets will remain a buyers market for the next few months. 

For the latest market trends, join us every Saturday at noon on VancouverMarketReports.com. We discuss which areas in the Lower Mainland are doing well and which are not. For a complete update on market values, forecasts, and a detailed analysis of your neighborhood, contact Bill Coughlin and the Coughlin Team at 778-374-3744.

 

   

   Disclaimer: Market predictions are exactly that: predictions. Market conditions are changing daily and you should consult with your local expert to confirm facts before making any decisions.

 

   We invite you to analyze your home value/investment in 30+ market areas by inputting your previous purchase price and date in the Evaluator below! See "Evaluator / Forecaster" movie for directions. To see your homes monthly price changes from now on, just email your report to yourself. (3 bars link to email function)

 

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   Richmond's Home Evaluator / ROI / Forecaster
Single Family Detached High End .. more than $2,000,000       

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              你的房屋价值 ,利润, 投资收益率知多少?


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Calculate Your Home Value & Compare Your ROI to 130 Local & World Markets. 
           

 
 
 
 
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The Richmond City Real Estate Market update which includes sub-areas such as Granville, Seafair, Broadmoor, Lackner, Riverdale are Sponsored by Biggar Group, RE/MAX West Coast.
We thank Taylor and Larry Biggar for their support of these Market Updates. Contact Biggar Group as the Local Expert.
  more details 

The Richmond City Market Statistics includes sub-areas such as  Granville, Seafair, Broadmoor, Lackner, Riverdale RI

The Richmond City Market Statistics includes sub-areas such as  Granville, Seafair, Broadmoor, Lackner, Riverdale RI

The Richmond City Market Statistics includes sub-areas such as  Granville, Seafair, Broadmoor, Lackner, Riverdale RI

The Richmond City Market Statistics includes sub-areas such as  Granville, Seafair, Broadmoor, Lackner, Riverdale RI

Download the full RichmondMarketupdatereport.PDF

 

The Richmond City Market Statistics which includes sub-areas such as  , Lackner, Riverdale RI, Granville, Seafair, Broadmoor

The Richmond City Market Statistics which includes sub-areas such as  , Lackner, Riverdale RI, Granville, Seafair, Broadmoor

 

The Richmond City Market Statistics which includes sub-areas such as  , Lackner, Riverdale RI, Granville, Seafair, Broadmoor

The Richmond City Market Statistics which includes sub-areas such as  , Lackner, Riverdale RI, Granville, Seafair, Broadmoor

The Richmond City Real Estate Market report includes sub-areas such as Riverdale RI, Granville, Broadmoor, Lackner, Seafair etc

Click Image to compare previous STR/ MTI graphs            Trying to do the math? Lessons:  STR   MTI 

Ladner, South Delta, Real Estate Market Update Report


 

The Richmond City Market Statistics includes sub-areas such as Seafair, Riverdale RI, Granville, Lackner, Broadmoor etc. See the analytics to forecast the investment risks. Link

Hi from Sunny Richmond  ...Talyor Biggar   Go to our website for more info at  Steveston Real Estate & Steveston Community Info

Larry and Taylor Biggar

Richmond + Ladner STR

This is the most accurate  %SOLD-Monthly Sell Through Rates (STR Graph)  using a 4 week time period to analysis the housing prices and Market trends. This Market Report is derived from the exact Sat to Friday 4 week time periods and this is dramatically more accurate than the month to month comparisons that vary based on actual working days eg month, weekends. These trends enable Real Estate Market predictions and forecast outlooks.

Real Estate Market Richmond , South Delta,Ladner Update Report.

Richmond Proper

Study Criteria   (Richmond Proper) Home size: 1500-2800 sqft,, Lot: 3800 7000 sqft, Age: 10-50 yrs, Bedrooms: 3-6

Disclaimer: Market predictions are exactly that: predictions. Market conditions are changing daily and you should consult with your local expert to confirm facts before making any decisions.

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