Richmond, Calgary - August 2026 Real Estate Report

Richmond, Calgary Real Estate: What Your Neighbour Hasn't Told You Yet

If you've been watching the "For Sale" signs on Richmond's streets lately, here's the straight story. The market is taking a breather - but it's not the same story for houses and condos. And if you're still relying on your city assessment to know what your place is worth, you're working with old news.

The Vibe: Houses vs. Condos in Richmond Right Now

Houses - A Cooler Market, But Still Solid Ground

We're seeing houses average $1,017,500 in actual sale prices this month - that's down 11.0% from last month. That's a number worth paying attention to. Listings are sitting at $1,070,450 on average, and homes are selling for about 95.27% of asking price. Translation: buyers are negotiating, and they're winning. If you're a seller, that gap between list and sale price is your reality check.

• Average sale price: $1,017,500 (down 11.0% from last month)
• Average list price: $1,070,450
• Price per square foot: $631
• Sale-to-list ratio: 95.27%
• Average days on market: 41 days
• Properties sold this month: 6
• Rental yield: 4.81%
• Estimated monthly rent: $4,065

Homes here are sitting on the market for 41 days on average. That's longer than South Calgary at 26 days and Killarney Glengarry at 38 days. We're not in freefall - but the pace has slowed. The HonestDoor predicted market value for houses sits at $952,314, which is just slightly off the 3-month moving average of $952,705. The trend line is dipping, not crashing.

On the neighbourhood leaderboard, Richmond houses rank 138 out of 236 Calgary neighbourhoods for growth. That puts us in the below-average tier right now. Price rank is a brighter story - 56 out of 220, meaning we're still above average in value compared to most of the city.

Condos - Affordable Entry, But a Slow Burn

The condo picture in Richmond is a different animal. Only 1 condo sold this month at $224,000, with listings averaging $235,000. The price per square foot is $259, and buyers are also landing below ask at 95.32% of list price. The market here is stable - but slow.

• Average sale price: $224,000
• Average list price: $235,000
• Price per square foot: $259
• Sale-to-list ratio: 95.32%
• Average days on market: 46 days
• Properties sold this month: 1
• Rental yield: 3.69%
• Estimated monthly rent: $3,039

Condos are sitting 46 days on average before selling - longer than both South Calgary and Killarney Glengarry. The HonestDoor predicted value for condos is $764,321, down from a 3-month moving average of $777,905. Values have shifted -2.75% recently, and the growth rank sits at 150 out of 216 neighbourhoods. On price rank, condos land at 167 out of 175 - putting Richmond condos among the most affordable in Calgary. For a buyer, that's actually interesting. For a seller, patience is the word.

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

Here's the thing about your city assessment - it's a snapshot from months ago, built on data that's already stale by the time it lands in your mailbox. The market doesn't wait for paperwork.

The average assessed value for a Richmond house is $945,523. The HonestDoor Price right now is $951,303. That's a $5,780 difference - and it's a live number, not a frozen one. For condos, the gap is even more striking. The average assessed value is $446,502, but the HonestDoor Price is $780,488. That's 74.80% higher than what the city has on file. If a condo owner in Richmond is making any financial decision - refinancing, selling, estate planning - using the assessed value alone is leaving serious money on the table.

The HonestDoor Price is your real-world check. It moves with the market. The assessment doesn't.

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

If you own a house in Richmond and you're eyeing a summer sale, here's the honest picture. Prices are softer than they were a few months ago. Buyers have more leverage than they did. Your home will likely sit for over a month before the right offer comes in, and that offer will probably land around 95% of your ask. That's not a disaster - but it means pricing smart from day one matters more than ever. Overpricing and chasing the market down is the worst move you can make right now.

For condo owners, the calculus is tougher. With only 1 sale this month and values trending down, summer 2026 is not a seller's market for condos in Richmond. If you don't need to sell, holding and renting at an estimated $3,039 per month gives you a 3.69% yield while you wait for conditions to improve.

One bright spot for both property types - Richmond still pulls solid rental interest. Houses are estimated at $4,060 per month in rent, and the neighbourhood ranks 39th in Calgary for total transaction volume. This is still a place people want to be. The market is just asking sellers to be realistic about price and timeline right now.

Bottom line: check your HonestDoor Price before you do anything else. It's the number that actually reflects today - not last year.

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.