Richmond, Calgary - October 2026 Real Estate Report
Richmond, Calgary Real Estate: What Your Neighbours Aren't Telling You
If you've been watching the "For Sale" signs on your block and wondering what's actually going on, here's the straight story. Richmond is holding its value better than most people think - but the market is sending some clear signals right now that every homeowner should pay attention to.
The Vibe: Houses vs. Condos in Richmond
Let's break down what we're actually seeing on the ground.
Houses
Our house market is taking a breather. The average sale price sits at $929,408, which is down 7.4% from last month. Only 12 homes sold - that's 25% fewer than the month before - and they're sitting on the market for an average of 42 days before finding a buyer. Sellers are getting 98.48% of their list price, which means buyers have a little room to negotiate right now.
- Average sale price: $929,408
- Average list price: $1,006,150
- Price per square foot: $536
- Homes sold: 12
- Average days on market: 42
- Sale-to-list ratio: 98.48%
- Predicted market value: $949,531
- Estimated monthly rent: $4,054
- Rental yield: 4.82%
- Neighbourhood growth rank: 150 out of 221 in Calgary
That growth rank - 150 out of 221 - puts us in the below-average tier on the Calgary neighbourhood leaderboard right now. Not a crisis, but not a bragging point either. The honest read is that Richmond houses are cooling alongside much of the city.
Condos
The condo story is more interesting. Only 1 unit sold last month, so take the numbers with some context - but that unit moved in just 12 days and sold at 99.60% of list price. That's fast. The predicted market value for Richmond condos is $776,916, which is actually creeping up against the 3-month moving average of $774,505.
- Average sale price: $597,500
- Average list price: $599,900
- Price per square foot: $481
- Condos sold: 1
- Average days on market: 12
- Sale-to-list ratio: 99.60%
- Predicted market value: $776,916
- Estimated monthly rent: $3,051
- Rental yield: 3.69%
- Growth rank: 89 out of 207 in Calgary - above average
On the neighbourhood leaderboard, Richmond condos rank 89 out of 207 for growth. That puts us solidly above average. Compare that to nearby Bankview and South Calgary condos, which are both showing negative year-over-year growth, and Richmond condos are actually one of the better bets in this pocket of the city.
The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Assessment Right Now
Here's something worth knowing. The City of Calgary assessed the average Richmond house at $945,115. The average HonestDoor Price for that same house is $945,438. Those numbers are almost identical - which is actually rare and worth noting. It means the city's assessment is reasonably dialled in for houses right now.
Condos are a completely different story. The average assessed value for a Richmond condo is $445,414. The average HonestDoor Price is $770,554. That is a 73% gap. If you own a condo in Richmond and you're making any financial decision - refinancing, selling, even just understanding your net worth - based on that city assessment number, you are working with a figure that is wildly out of date. The HonestDoor Price updates in real time using actual market data. The city assessment does not. That gap is your real-world check.
For houses, the HonestDoor Price of $945,438 is only 0.03% above the assessed value. For condos, the market has moved so far beyond the assessment that the two numbers barely belong in the same conversation. Know which one you're dealing with.
The 'So What?': Thinking About Selling This Summer?
If you own a house in Richmond and you're thinking about listing this summer, the data is telling you to move with intention. Prices are down from last month, fewer buyers are active, and homes are taking over six weeks to sell. That does not mean you can't get a strong price - Richmond still ranks 58 out of 221 Calgary neighbourhoods for price, which puts us above average. But pricing it right from day one matters more than it did six months ago. Overpricing and chasing the market down is a real risk in this environment.
If you own a condo, the picture is more nuanced. Condos here are moving fast when they do sell, and your growth rank is above average compared to the rest of Calgary. The catch is that transaction volume is thin - one sale last month is not a deep market. If you're selling, you need the right buyer to show up. If you're holding, the rental story is decent at $3,051 per month estimated.
Either way, the first step is knowing what your property is actually worth today - not what the city said it was worth at the start of the year. Pull your HonestDoor Price, compare it to what's actively listed in Richmond right now, and you'll have a much clearer picture of where you actually stand heading into the summer market.
richmond | calgary | 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.