Richmond Condo Market Report – September 2023

In September 2023, the Richmond condo real estate market is classified as a Buyer's Market with an absorption rate of 3.1%. 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.

132 condo properties sold in Richmond during September 2023 based on MLS® records. There were 4,294 active listings at the start of the month. A total of 285 new listings came to market during the month.

The average condo sold price in Richmond in September 2023 was $745,729. Sold prices ranged from $275,000 to $2,318,000. Data is sourced from MLS® board records.

In September 2023, condo properties in Richmond averaged 31 days on the market before selling. With an absorption rate of 3.1%, 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 September 2023 was $745,729, up 14.1% year-over-year compared to September 2022 ($653,345). Sales volume was up 13.8% compared to the same month last year. Data is sourced from MLS® sold records.