Richmond, Ottawa - August 2026 Real Estate Report

Richmond, Ottawa Real Estate: What Your Neighbours Are Not Telling You

If you own a home in Richmond and you have not checked your property value lately, now is the time. The numbers tell an interesting story - one that your annual tax assessment is almost certainly getting wrong.

The Vibe: What Is Actually Happening in Richmond Right Now

Let us break it down by property type, because houses and condos are living in two very different worlds here.

Houses - Steady, But Worth Watching

The house market in Richmond is taking a breather. That is not a bad thing - it just means buyers have a little more room to breathe too.

• Average HonestDoor Price: $822,436 - up a modest 0.10% from last period
• Recent sale average: $1,592,900, with listings sitting at $1,599,900
• Homes sold for 99.56% of list price - buyers are paying just under asking
• Average days on market: 9 days - that is fast
• Price per square foot: $498
• Estimated monthly rent: $3,670
• Rental yield: 5.04% - that is a strong return for landlords
• Airbnb potential: $182 per night

On the neighbourhood leaderboard, Richmond houses rank 37 out of 100 for growth in Ottawa - above average. For days on market, we sit at 4 out of 17, meaning our homes sell faster than most. For price, we rank 6 out of 25 - we are in the upper tier. That combination of speed and price strength is something sellers should not ignore.

The 3-month moving average sits at $822,647, and the predicted market value is $821,619 - a small dip of -0.55%. Nothing alarming, but worth keeping an eye on if you are thinking about timing a sale.

Condos - The Surprise Story of the Year

Here is where things get genuinely interesting. Richmond condos are not just performing well - they are outperforming almost everything else in the city.

• Average HonestDoor Price: $2,349,059 - up 9.73% from last period
• Predicted market value: $2,140,772 - and it is climbing, up from a 3-month average of $1,951,834
• Estimated monthly rent: $7,148 to $7,730
• Airbnb potential: $355 to $384 per night
• Airbnb rank in Ottawa: 2nd out of all neighbourhoods - second best in the entire city

On the neighbourhood leaderboard, Richmond condos rank 3rd out of 104 neighbourhoods in Ottawa for growth. That is not a typo. Third out of 104. If you own a condo here, that number should be on your radar.

The rental yield on condos comes in at 1.99%. That is more moderate than houses, but the raw dollar figures on rent and short-term income potential are in a completely different league.

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

Here is the thing about government assessments - they are snapshots from the past. By the time that number lands in your mailbox, the market has already moved on. In a neighbourhood like Richmond, where condo values have jumped nearly 10% in a single period, an outdated assessment is not just inaccurate - it could cost you real money.

The HonestDoor Price is updated in real time. It pulls from actual market activity, not a bureaucratic cycle that runs every few years. For houses, it is currently sitting at $822,436. For condos, it is $2,349,059. Those are the numbers that reflect what a buyer would actually pay today - not what the city decided your home was worth two years ago.

If you are a Richmond homeowner, checking your HonestDoor Price right now is the fastest way to know where you actually stand - before you make any decisions about selling, refinancing, or even just understanding your net worth.

The So What - Should You Sell This Summer?

If you own a house in Richmond, the market is stable and homes are moving in about 9 days. That is a seller-friendly pace. The slight dip in the 3-month moving average suggests prices are not racing upward, but they are holding. Listing this summer means you are entering a market where buyers are still paying close to full ask and inventory is not overwhelming.

If you own a condo in Richmond, the case for selling this summer is even stronger. A 9.73% price increase, a top-3 growth ranking in all of Ottawa, and an Airbnb rank of 2nd in the city - that is a combination that attracts serious buyers. Values are trending up, not down. You have momentum on your side right now.

Either way, the first step is knowing your real number. Not the city's number - your HonestDoor Price. That is where the conversation starts.

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.