Broadmoor, Richmond - July 2026 Real Estate Report

Broadmoor, Richmond: Your Home Is Worth More Than the City Thinks - Here's the Proof

If you've been watching the "For Sale" signs in Broadmoor lately, here's what's actually happening. The market is taking a breather, but your property's real-world value is still sitting above what the city has on file. That gap matters - especially if you're thinking about making a move this summer.

The Vibe: Houses vs. Condos in Broadmoor

Let's break it down for us locals, because houses and condos are telling two very different stories right now.

Houses

The average sale price this month came in at $1,100,000, which looks like a sharp drop on paper - down 19% from last month. But here's the context: only 1 house sold this month. One sale does not make a trend. The predicted market value for Broadmoor houses sits at $1,861,031, which is actually climbing above the 3-month moving average of $1,843,657. That upward movement is the number we should be watching.

• Average HonestDoor Price: $1,846,190
• Predicted Market Value: $1,861,031
• Price per square foot: $848
• Estimated monthly rent: $6,465
• Rental yield: 3.93%
• Recent value change: up 1.64%
• Growth rank: 10 out of 15 neighbourhoods in Richmond
• Price rank: 6 out of 13 - above average for Richmond

On the neighbourhood leaderboard, Broadmoor houses rank 10th out of 15 for growth - below average, no sugarcoating that. But on price, we're sitting 6th out of 13, which puts us solidly above the midpoint. We're not the fastest-growing block on the board, but we're holding our own in value.

Condos

The condo picture is a bit more cautious. Four units sold this month at an average of $583,250 - steady, with no dramatic swings. But the predicted market value of $559,510 is drifting below the 3-month moving average of $577,210, and the recent value change of -3.89% is worth paying attention to. Condo values in Broadmoor are softening right now.

• Average HonestDoor Price: $569,837
• Predicted Market Value: $559,510
• Price per square foot: $658
• Estimated monthly rent: $2,721
• Rental yield: 3.72%
• Recent value change: -3.89%
• Growth rank: 12 out of 15 neighbourhoods in Richmond
• Price rank: 8 out of 13 - below average for Richmond

On the leaderboard, Broadmoor condos rank 12th out of 15 for growth. That's a signal to watch. Nearby Shellmont condos are priced slightly higher at $589,296 and growing faster. If you own a condo here, now is a good time to get a clear read on where you actually stand.

The Secret Sauce: Why Your HonestDoor Price Beats the Tax Assessment Right Now

Here's the thing about your city assessment - it's a snapshot from months ago, built on broad formulas. It doesn't know what your neighbour's reno did for the block, or what buyers are actually offering right now in Broadmoor.

For houses, the average city assessment sits at $1,813,122. The HonestDoor Price is $1,846,190 - that's $33,068 more than what the city has on file. For condos, the city assessment is $570,544, while the HonestDoor Price is $569,837 - essentially in line, but updated in real time as the market shifts.

The HonestDoor Price pulls from live transaction data, current market signals, and what's actually happening on the ground in Broadmoor - not a government formula that gets refreshed once a year. Think of it as the real-world check on a number that can quietly cost you if you're making decisions based on stale data.

The "So What?" - Thinking About Selling This Summer?

If you own a house in Broadmoor, the fundamentals are working in your favour. Values are ticking up, the predicted price is above the 3-month average, and we rank above average on price across Richmond. With only 18 house transactions recorded in 2026 so far, supply is tight. Tight supply and solid pricing is a decent combination for a seller.

If you own a condo, be honest with yourself about the timing. Values are dipping, growth is ranked near the bottom of the Richmond leaderboard, and the predicted value is sliding below recent averages. That doesn't mean don't sell - it means price it right from day one. An overpriced condo in a softening pocket sits. A well-priced one moves.

For both property types, the rental numbers are worth knowing even if you're selling. Houses rent for an estimated $6,465 a month with a 3.93% yield. Condos bring in around $2,721 at a 3.72% yield. Buyers who are also investors will run those numbers - so you should know them too.

Bottom line: Broadmoor is a well-priced, established neighbourhood in Richmond. Houses are holding strong. Condos need a sharper eye on pricing right now. Either way, check your HonestDoor Price before you do anything else - it's the most current read you've got on what your home is actually worth today.

This information is all based on our opinions based on the information available to us. Everyone's situation may be different and you should reach out to us for more personalized information.