Richmond, Ottawa - October 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 market here is doing something interesting - and your city tax assessment is almost certainly not keeping up with it.
The Vibe: What Is Actually Happening in Richmond Right Now
Let us break it down by property type, because houses and condos are telling two very different stories right now.
Houses - Steady, Fast, and Still Above the Pack
If you have been watching the "For Sale" signs in Richmond, here is what is actually happening. Houses are selling quickly and close to asking price. That is a healthy sign in a market that has cooled elsewhere in Ottawa.
- Average HonestDoor Price: $824,479
- Average sale price this period: $1,592,900
- Average list price: $1,599,900
- Homes are selling at 99.56% of list price - buyers are not getting big discounts here
- Average days on market: 9 days - that is very fast by Ottawa standards
- Price per square foot: $498
- Estimated monthly rent: $3,675 to $3,687
- Rental yield: 5.02% - that is a strong return
- Predicted market value (3-month trend): rising from $824,232 to $828,890
Nine days on market is not a typo. Richmond ranks 4th out of 21 Ottawa neighbourhoods for how fast homes sell. That puts us in rare company. On price, we rank 6th out of 29 comparable areas - meaning Richmond is genuinely above average in Ottawa. Growth rate sits at 65th out of 99, which is middle of the pack, but the speed and price data tell a more confident story.
Condos - The Surprise Performer
Here is the number that will make you do a double-take. Richmond condos have jumped 9.80% in HonestDoor Price from the previous period. That is not a typo either.
- Average HonestDoor Price: $2,824,554 - up 9.80%
- Predicted market value: $2,572,400 and climbing
- 3-month moving average: up from $2,354,077 to $2,572,400
- Property value change recently: 9.51%
- Estimated monthly rent: $8,984
- Airbnb potential: $446 per night
- Airbnb rank in Ottawa: 2nd out of all neighbourhoods
- Growth rank: 5th out of 104 Ottawa neighbourhoods
That Airbnb rank of 2nd in all of Ottawa is a big deal. If you own a condo in Richmond and you are not thinking about short-term rental income, you are leaving money on the table. The growth rank of 5th out of 104 puts Richmond condos firmly in the top tier of Ottawa's neighbourhood leaderboard right now.
The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Tax Assessment
Here is the honest truth about city assessments. They are snapshots taken years ago. The city is not watching your street the way the market is. Your tax assessment does not know that Richmond condos just moved 9.80% in a single period. It does not know that houses here are selling in 9 days.
The HonestDoor Price is updated in real time using actual market activity. It is the number a buyer would use to make an offer today - not the number a government office calculated two or three years ago. If you are making any decision about selling, refinancing, or even just understanding your net worth, the HonestDoor Price is your real-world check against a number that is almost certainly out of date.
For Richmond houses, that real-world check sits at $824,479 with a predicted value of $828,890 and trending upward. For condos, the momentum is even sharper. These are the numbers that matter when real money is on the line.
The So What - Should You Sell in Richmond This Summer?
If you own a house in Richmond and you are thinking about selling this summer, the conditions are about as good as they get in a stable market. Homes are moving in 9 days. Buyers are paying 99.56 cents on every dollar of asking price. You are not going to get into a bidding war frenzy, but you are also not going to sit on the market for months watching your price drop.
The market is not overheated - it is taking a breather from the pandemic highs - but Richmond is holding its value better than most. Ranking 6th on price out of 29 comparable Ottawa areas means buyers still see Richmond as worth paying for.
If you own a condo, the story is even more compelling. A 9.51% value increase and a top-5 growth rank in Ottawa means the window to capture that momentum is open right now. These things do not stay open forever.
Bottom line - Richmond is not flashy, but it is consistent, fast-moving, and priced above the Ottawa average. That is exactly what you want when you are ready to sell. Check your HonestDoor Price before you call an agent. Know your number first.
richmond | ottawa | 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.