City Centre, Richmond - July 2026 Real Estate Report

City Centre, Richmond: What Your Home Is Actually Worth Right Now

If you've been glancing at your last property tax assessment and wondering if it still means anything - it doesn't. Here's the real picture for City Centre homeowners in 2026.

The Vibe: Houses vs. Condos

City Centre is a tale of two markets right now, and where you sit depends entirely on what you own.

Houses - The house market here is quiet. Only 1 home sold this month, and the average sale price came in at $888,000, down 15.2% from last month. That single-sale month makes the percentage swing look dramatic - one deal can do that. The more reliable signal is the HonestDoor predicted value of $1,216,654, which is nudging upward from the 3-month moving average of $1,212,601. So while the monthly sale number looks rough, the underlying trend is actually inching higher. Price per square foot sits at $594. On the leaderboard, houses in City Centre rank 6 out of 15 neighbourhoods for growth - above average - and 11 out of 13 for price, meaning we're among the more affordable house markets in Richmond. That's a combination worth paying attention to.

• Average sale price (this month): $888,000
• Price per sq ft: $594
• HonestDoor predicted value: $1,216,654
• 3-month moving average: $1,212,601
• Estimated rent: $4,761/month
• Rental yield: 4.49%
• Growth rank: 6 out of 15 in Richmond (above average)
• Price rank: 11 out of 13 in Richmond (among most affordable)

Condos - The condo side is busier. Seven units sold this month, with an average sale price of $793,139 - up 17.6% from last month. Price per square foot is $821. The HonestDoor predicted value sits at $656,174, which is actually pulling back slightly from the 3-month moving average of $670,544, and recent value change is down 3.14%. So the monthly sale price popped, but the forward-looking model is cooling. On the leaderboard, condos rank 9 out of 15 for growth (below average) but 4 out of 13 for price - meaning we're priced above most of Richmond's condo neighbourhoods. For renters and investors, the estimated rent is $3,042/month with a 3.58% yield.

• Average sale price (this month): $793,139
• Price per sq ft: $821
• HonestDoor predicted value: $656,174
• 3-month moving average: $670,544
• Estimated rent: $3,042/month
• Rental yield: 3.58%
• Growth rank: 9 out of 15 in Richmond (below average)
• Price rank: 4 out of 13 in Richmond (above average in price)

The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Assessment Right Now

Here's the thing about your BC Assessment number - it's a snapshot from last July. A lot has moved since then.

For houses, the average assessed value in City Centre is $1,176,360. The HonestDoor Price is $1,231,963 - that's 4.73% higher, and it's updated in real time. If you're making any financial decision based on the government number alone, you're leaving money on the table or misjudging your equity position by roughly $55,000.

For condos, the gap is smaller but still real. Average assessed value is $662,286. The HonestDoor Price is $671,211 - about 1.35% higher, and up 2.29% from the previous period. The assessment won't reflect that recent uptick. Your HonestDoor Price does.

Think of the assessment as last season's menu prices. The HonestDoor Price is what things actually cost today.

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

If you own a house in City Centre and you've been on the fence, the data gives you a reasonable case to move. The predicted value is trending up, growth ranks above average for Richmond, and with only 1 house selling this month, there's very little competition on the street right now. Low supply and an above-average growth rank is a decent setup for a seller.

If you own a condo, the picture is more mixed. The HonestDoor predicted value is dipping below its 3-month average, and the recent value change is down 3.14%. That doesn't mean panic - it means price carefully. City Centre still ranks 4th out of 13 in Richmond for condo prices, so the neighbourhood carries weight. But this is not the moment to overprice and wait. Buyers are watching the same numbers you are.

Either way, your first move should be checking your HonestDoor Price before you call an agent or set an asking price. It's the most current number you've got - and in a market like this, current is everything.

• City Centre had the most transactions in Richmond in 2026 - ranked 1st overall for both houses and condos
• 5,669 house properties and 22,728 condo properties assessed this year
• Nearby Blundell condos average $963,703 - City Centre is still a relative value play
• Airbnb potential: $239/night for houses, $154/night for condos

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.