Richmond Condo Market Report – January 2022

In January 2022, the Richmond condo real estate market is classified as a Buyer's Market with an absorption rate of 8%. Conditions may favour buyers — there is relatively more supply than demand, giving buyers more choice and negotiating room. Always consult a licensed REALTOR® to assess your specific situation.

196 condo properties sold in Richmond during January 2022 based on MLS® records. There were 2,443 active listings at the start of the month. A total of 328 new listings came to market during the month.

The average condo sold price in Richmond in January 2022 was $684,035. Sold prices ranged from $230,000 to $1,829,900. Data is sourced from MLS® board records.

In January 2022, condo properties in Richmond averaged 29 days on the market before selling. With an absorption rate of 8%, the market is currently a Buyer's Market. A lower average days-on-market indicates stronger demand.

The average condo sold price in Richmond in January 2022 was $684,035, up 13.9% year-over-year compared to January 2021 ($600,343). Sales volume was up 8.9% compared to the same month last year. Data is sourced from MLS® sold records.