Terra Nova is a prestigious master-planned residential community in the northwest corner of Richmond, BC, developed in the late 1990s and early 2000s as one of the city's last major residential land releases. The neighbourhood is defined by upscale single-family homes and executive townhouses on curving, traffic-calmed streets, many backing onto protected agricultural land or overlooking the Terra Nova Natural Area — a significant wetland bird sanctuary on the edge of the Fraser River. Real estate in Terra Nova commands among Richmond's highest prices, reflecting the neighbourhood's planned nature, quality of housing stock, and natural surroundings. The Terra Nova Rural Park provides an idyllic green escape, while bus routes connect residents to the Canada Line. Terra Nova's combination of planned community elegance, natural environment, and proximity to Steveston Village's amenities makes it one of Richmond's most desirable addresses for families and discerning buyers.
| Period | Units Sold | Avg Sold Price | Avg DOM |
|---|---|---|---|
| December 2022 (this report) | 3 | $1,340,000 | 54d |
| November 2022 month prior | 3 +0% | $1,618,134 -17.2% | 13d +315.4% |
| December 2021 year ago | 5 -40% | $2,263,600 -40.8% | — |
In December 2022, the Terra Nova, Richmond real estate market is classified as a Buyer's Market with an absorption rate of 2.8%. 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.
Last Update: 06/04/2026 Disclaimer: Listing data is based in whole or in part on data generated by the Real Estate Board of Greater Vancouver and Fraser Valley Real Estate Board which assumes no responsibility for its accuracy.