Richmond Condo Market Report – July 2021

In July 2021, the Richmond condo real estate market is classified as a Buyer's Market with an absorption rate of 10.1%. 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.

221 condo properties sold in Richmond during July 2021 based on MLS® records. There were 2,185 active listings at the start of the month. A total of 304 new listings came to market during the month.

The average condo sold price in Richmond in July 2021 was $644,825. Sold prices ranged from $230,000 to $3,200,000. Data is sourced from MLS® board records.

In July 2021, condo properties in Richmond averaged 34 days on the market before selling. With an absorption rate of 10.1%, 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 July 2021 was $644,825, up 9.9% year-over-year compared to July 2020 ($586,561). Sales volume was up 25.6% compared to the same month last year. Data is sourced from MLS® sold records.