Richmond Condo Market Report – March 2023

In March 2023, the Richmond condo real estate market is classified as a Buyer's Market with an absorption rate of 4.9%. 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.

186 condo properties sold in Richmond during March 2023 based on MLS® records. There were 3,791 active listings at the start of the month. A total of 213 new listings came to market during the month.

The average condo sold price in Richmond in March 2023 was $723,118. Sold prices ranged from $239,000 to $1,800,000. Data is sourced from MLS® board records.

In March 2023, condo properties in Richmond averaged 32 days on the market before selling. With an absorption rate of 4.9%, 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 March 2023 was $723,118, up 4.9% year-over-year compared to March 2022 ($689,520). Sales volume was down 32.1% compared to the same month last year. Data is sourced from MLS® sold records.