Richmond, Brandon - July 2026 Real Estate Report

Richmond, Brandon: Here's What Your Home Is Actually Worth Right Now

If you've been glancing at your last tax assessment and wondering if it still reflects reality, the short answer is: probably not. Here's the real-world picture for Richmond homeowners right now.

The Vibe: Houses vs. Condos in Richmond

Let's break down what's happening for us in Richmond, because houses and condos are telling two pretty different stories.

Houses

Our houses are holding their ground. The average HonestDoor Price sits at $376,444 - down just 0.24% from last period. That's not a drop worth losing sleep over. Think of it as the market catching its breath.

• Average HonestDoor Price: $376,444
• Predicted market value: $377,334
• 3-month moving average: $377,674
• Recent sale price average: $289,000
• Price per square foot: $347
• Estimated monthly rent: $1,943
• Rental yield: 5.86% - that's a strong return
• Airbnb potential: $96 per night
• Airbnb rank in Brandon: 3rd - genuinely competitive
• Neighbourhood growth rank: 6 out of 10 in Brandon - below average, but not the basement
• Price rank: 1 out of 1 - most affordable in its comparison group

That 5.86% rental yield is the number landlords should be circling. For context, anything above 5% is considered solid in most Canadian mid-sized cities. Richmond houses are delivering that right now.

One thing worth noting: only 1 house sold last month. Low volume means each sale carries a lot of weight in the averages. Don't read too much into any single number - the trend line matters more here.

Condos

Condos are a different conversation. The average HonestDoor Price is $167,122, down a tiny 0.01% - basically flat. But the 3-month moving average tells a slightly softer story.

• Average HonestDoor Price: $167,122
• Predicted market value: $167,140
• 3-month moving average: $168,217 - values are drifting down slightly
• Recent value change: -0.64%
• Estimated monthly rent: $913
• Rental yield: 4.33% - moderate, not spectacular
• Airbnb potential: $45 per night
• Airbnb rank in Brandon: 7th
• Growth rank: 2 out of 2 in Brandon - bottom of the leaderboard right now

That growth rank is the honest part nobody wants to say out loud. Richmond condos are sitting at the bottom of the Brandon neighbourhood leaderboard for growth. That doesn't mean sell tomorrow - but it does mean condo owners should be paying close attention and not assuming appreciation is coming to the rescue anytime soon.

On the price comparison front, Richmond condos are cheaper than South Centre ($183,709) but pricier than Linden Lanes ($155,201) and Meadows Waverly ($141,099). We're in the middle of the pack.

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

Here's the thing about your city assessment - it's a snapshot taken months ago, sometimes longer. It doesn't know what happened on your street last week. The HonestDoor Price is updated in real time using actual market signals, so it reflects what a buyer would likely pay today, not what a government office calculated last year.

For Richmond houses, the HonestDoor Price of $376,444 is sitting significantly above the recent average sale price of $289,000. That gap is worth understanding before you price anything. It suggests the market has more nuance than a single sale number can capture - and that your property's individual features could push your value well above what the last comparable sale suggests.

For condo owners, the HonestDoor Price gives you a real-world check before you walk into a listing conversation. If your assessment is stale and the market has softened, you want to know that before you set expectations - not after.

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

If you own a house in Richmond and you're thinking about listing this summer, the timing has some logic to it. Values are stable, the rental yield story gives buyers a reason to pay attention, and your Airbnb rank of 3rd in Brandon is a legitimate selling point for investors. Lead with that.

The growth rank of 6 out of 10 means Richmond isn't the hottest name on the Brandon leaderboard right now - but it's not the bottom either. Price it right and you have a real shot at a clean sale.

If you own a condo, be clear-eyed. The market is taking a breather and the growth rank says Richmond condos are lagging the competition. That doesn't mean you can't sell - it means you need to price with precision, not optimism. Check your HonestDoor Price, compare it against South Centre and Linden Lanes, and have an honest conversation with your agent about where you actually sit on the leaderboard.

Bottom line: Richmond is a stable, affordable corner of Brandon with a strong rental story for houses. Know your real number before you make any moves.

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.