East Richmond, Richmond - October 2026 Real Estate Report
East Richmond Real Estate Check-In: Prices Are Holding, But the Market Is Taking a Breather
The Vibe Right Now
If you live in East Richmond and you've been wondering whether to make a move this summer, here's the honest picture. Sales volume is thin - we're talking one house and one condo sold last month. That's not a crash, but it does mean the market here is quiet. Prices are holding steady on the surface, but dig a little deeper and you'll see values are drifting downward. Not a freefall, just a slow exhale.
Houses - The Big Number Breakdown
The average house sale price in East Richmond is sitting at $1,250,000, with a price per square foot of around $1,447. Those are the "sold" numbers. But here's where it gets interesting for homeowners: the predicted market value on houses is $2,444,808. That's the real-world estimate of what your property is worth today - and it's slipping. It's down from a 3-month average of $2,466,724, a recent change of -1.19%.
- Average sale price: $1,250,000
- Price per square foot: $1,447
- Predicted market value: $2,444,808
- 3-month moving average: $2,466,724
- Recent value change: -1.19%
- Estimated monthly rent: $7,488
- Rental yield: 3.86%
- Neighbourhood growth rank: 1 out of 1 in Richmond
That last stat is worth a pause. On the neighbourhood leaderboard, East Richmond houses rank 1 out of 1 for growth - meaning we're currently sitting at the bottom of the pack in Richmond. It also ranks 1 out of 1 for price, which puts us among the most affordable house markets in the city. If you're a buyer, that's a door. If you're a seller, that's context you need to know before you price your home.
Condos - Steady but Soft
Condos in East Richmond are in a similar spot. One unit sold last month at $589,000, or roughly $698 per square foot. That's actually a bit higher than what sold in East Cambie ($488,000) and a bit lower than Fraser Lands ($688,000), so we're sitting in the middle of the pack for comparable neighbourhoods.
- Average sale price: $589,000
- Price per square foot: $698
- Predicted market value: $594,192
- 3-month moving average: $599,552
- Recent value change: -1.41%
- Estimated monthly rent: $2,819
- Rental yield: 3.70%
- Airbnb potential: $140 per night
- Neighbourhood growth rank: 1 out of 1 in Richmond
Same story on the leaderboard - condos here rank 1 out of 1 for growth in Richmond, and 1 out of 1 for price. Most affordable, slowest growth. That combination tells us the condo market in East Richmond is not where the momentum is right now. Values are down -1.41% recently, and the predicted value of $594,192 is already trailing the 3-month average of $599,552.
The Secret Sauce - Why Your HonestDoor Price Matters More Than Your Tax Assessment
Here's the thing most homeowners don't realize. Your city assessment is a snapshot from last year. It doesn't know what happened in the market last month, last week, or yesterday. The HonestDoor Price is updated in real time, pulling in actual sales data and market signals as they happen.
For condos in East Richmond, the average assessed value is $596,887. The average HonestDoor Price is $592,528 - already 0.73% lower than that government number. The assessment hasn't caught up to where the market actually is. If you're pricing a condo to sell based on your tax notice, you could be starting from the wrong number entirely.
The HonestDoor Price is your real-world check. Use it before you call an agent, before you set a list price, and before you assume your assessed value reflects what a buyer will actually pay today.
The "So What?" - Thinking About Selling This Summer?
If you're a homeowner in East Richmond with selling on your mind, here's the straight talk. The market is not working in your favour right now. Values are trending down, sales are slow, and East Richmond sits at the bottom of Richmond's neighbourhood growth leaderboard for both houses and condos. That doesn't mean you can't sell - it means you need to be sharp about how you price it.
A few things to keep in mind before you list:
- Check your HonestDoor Price first - it reflects where the market is today, not where it was a year ago
- House predicted values are down from the 3-month average - pricing aggressively matters more than ever
- Condo values have dropped -1.41% recently - buyers know this and will negotiate accordingly
- Rental yield of 3.70% to 3.86% is moderate - investor buyers exist, but they're doing the math carefully
- Nearby East Cambie condos are priced higher and growing faster - that comparison will come up in buyer conversations
Bottom line - if you need to sell this summer, get your HonestDoor Price, be realistic about where the market is, and price to move. Sitting on an inflated number in a slow market is the fastest way to watch your listing go stale.
east richmond | richmond | october 2026This 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.