Richmond, Ottawa - July 2026 Real Estate Report

Richmond, Ottawa Real Estate Update: Your Neighbour's House Is Worth More Than You Think

If you live in Richmond and you haven't checked your home's value lately, now is the time to pay attention. The numbers coming out of this neighbourhood tell two very different stories depending on what you own - and both are worth knowing.

The Vibe: Houses vs. Condos in Richmond

Let's break it down for us locals, because the house market and the condo market here are not moving in the same direction right now.

Houses: Things are steady. The average HonestDoor Price for a house in Richmond sits at $821,619, down a very slight 0.55% from last period. That is basically a flat line - not a crash, not a surge. The predicted market value comes in at $826,131, which is actually ticking up against the 3-month moving average of $824,500. So the underlying trend is still pointing upward, even if the headline number took a small step back.

• Average sale price: $1,592,900
• Average list price this month: $1,599,900
• Price per square foot: $498
• Homes sold at 99.56% of list price - buyers are paying close to asking, but just under
• Average days on market: 9 days
• Estimated monthly rent: $3,670 to $3,681
• Rental yield: 5.03% - that is a strong return
• Neighbourhood growth rank: 48 out of 102 in Ottawa - above average
• Price rank: 6 out of 24 - Richmond houses are among the pricier options in the city
• Days-on-market rank: 4 out of 17 - homes here move faster than most

Nine days on market is fast. That tells us buyers are still showing up and making decisions quickly. The market is not on fire, but it is not sleeping either. Call it a stable buyers market with a short fuse.

Condos: This is where Richmond gets interesting. The average HonestDoor Price for a condo here is $2,140,772 - up a significant 9.17% from last period. The predicted market value is $1,960,945, climbing sharply against a 3-month moving average of $1,773,703. That kind of momentum is hard to ignore.

• Average HonestDoor Price: $2,140,772
• Predicted market value: $1,960,945
• 3-month moving average: $1,773,703
• Recent value change: 11.81%
• Estimated monthly rent: $6,651 to $7,148
• Rental yield: 2.03%
• Airbnb estimate: $355 per night
• Airbnb rank in Ottawa: 2nd out of all neighbourhoods
• Growth rank: 17 out of 104 in Ottawa - top performers

A growth rank of 17 out of 104 puts Richmond condos in the top tier of Ottawa neighbourhoods right now. And that Airbnb rank of 2nd in the entire city? That is not a small detail. If you own a condo here and you are not thinking about short-term rental income, you are leaving money on the table.

Compare that to nearby neighbourhoods and the gap is clear. Bridlewood - Emerald Meadows condos average $445,226. Barrhaven comes in at $326,501. Glen Cairn sits at $335,062. Richmond is in a different weight class.

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

Here is the thing about your city assessment - it is a snapshot taken in the past. It does not know about the 9.17% jump in condo values. It does not reflect the fact that Richmond house prices are holding strong while other Ottawa neighbourhoods are softening. It is essentially a photograph of a market that no longer exists.

The HonestDoor Price is updated in real time. It pulls from actual market activity, current sales data, and live trends. For Richmond homeowners, that gap between your old assessment and your HonestDoor Price could be significant - especially for condo owners who have seen values move nearly 12% recently.

If you are making any financial decision - refinancing, selling, even just understanding your net worth - your HonestDoor Price is the number that actually reflects what your property is worth today, not two years ago.

The So What: Thinking About Selling This Summer?

If you own a house in Richmond and you are considering listing this summer, here is the honest read. The market is stable. Homes are moving in 9 days on average. Buyers are paying 99.56% of list price, which means you are not going to get a bidding war premium, but you are also not going to sit on the market for months. Price it right and it sells fast. Price it with wishful thinking and it sits.

If you own a condo, the story is more exciting. Values are climbing hard, the growth rank puts you in Ottawa's top tier, and the short-term rental demand here is second to none in the city. If you are selling, you have momentum on your side. If you are holding, the numbers suggest that patience is being rewarded.

Either way, the first move is simple - check your HonestDoor Price today. Know what you actually have before you decide what to do with it.

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.