Sea Island, Richmond - August 2026 Real Estate Report

Sea Island, Richmond: Your Home Is Worth More Than the City Thinks

The Vibe Right Now

If you've been watching the "For Sale" signs around Sea Island lately, here's the honest read: the market is taking a breather, but it's not falling apart. The neighbourhood sits at a crossroads - houses are softening a touch while condos are quietly picking up steam. Two very different stories on the same streets.

Houses: Steady, But Watch the Trend

The average sale price for a house in Sea Island is sitting at $1,184,500, with price per square foot around $1,496. Sales volume is thin - only 1 property sold recently - so we're not drawing big conclusions from that alone. What matters more is the direction.

• Predicted market value: $1,356,551
• 3-month moving average: $1,366,495 (values are drifting slightly lower)
• Recent value change: -3.30%
• Estimated rent: $5,160 per month
• Rental yield: 4.19%
• Growth rank: 14 out of 15 neighbourhoods in Richmond
• Price rank: 8 out of 13 in Richmond

That growth rank is the number to pay attention to. Sitting 14th out of 15 on the Richmond neighbourhood leaderboard means houses here are not leading the pack right now. Values have slipped 3.30% recently, and the predicted value is trending below the 3-month average. Not a panic situation - but not the time to sit back and assume things will climb on their own either.

Condos: The Quiet Outperformer

Condos in Sea Island are telling a different story, and it's a good one. While houses cool off, condo values are actually climbing against their recent average.

• Average HonestDoor Price: $673,267
• Predicted market value: $685,300
• 3-month moving average: $674,689 (values are moving up)
• Recent value change: +3.21%
• Estimated rent: $3,270 per month
• Rental yield: 3.48%
• Airbnb estimate: $160 per night
• Growth rank: 3 out of 15 neighbourhoods in Richmond

Third on the Richmond neighbourhood leaderboard for condo growth is genuinely strong. If we own a condo in Sea Island right now, that ranking matters. The predicted value of $685,300 is already nudging above the current HonestDoor Price of $673,267, which signals upward momentum. Compared to nearby Thompson condos at $649,247, Sea Island is holding a real edge.

The Secret Sauce: Your HonestDoor Price vs. That Tax Assessment

Here's the thing about your city assessment. It's a snapshot from months ago, calculated on a fixed date, using broad strokes. It does not move when the market moves. Right now, the average assessed value for a Sea Island house is $1,324,438. The average HonestDoor Price is $1,368,771. That's a gap of roughly $44,000 - and it's 3.35% higher than what the city has on file.

That difference is not a rounding error. It's real money. The HonestDoor Price updates continuously using current sales data, market signals, and neighbourhood trends. Think of it as the real-world check on a number the city printed months ago. If you're making any decision - selling, refinancing, even just understanding your net worth - the HonestDoor Price is the number that actually reflects today, not last year.

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

For house owners, the honest answer is: timing matters more right now than it did a year ago. With a growth rank of 14 out of 15 and values down 3.30% recently, waiting for the market to "come back" without a plan is a gamble. Summer typically brings more buyers to the table, and listing while there's still seasonal demand makes more sense than holding into fall when activity slows.

For condo owners, the picture is brighter. A top-3 growth ranking in Richmond and a predicted value climbing above the 3-month average means we're in a stronger position. If a sale has been on the radar, this is a reasonable window to move - the momentum is there right now.

Either way, the first step is knowing your actual number. Not the city's number from last January. Your HonestDoor Price - updated, real, and specific to your property. That's the starting point for any smart conversation with a buyer, a lender, or an agent.

• Sea Island house average HonestDoor Price: $1,368,771 (up 0.90% from last period)
• Sea Island condo average HonestDoor Price: $673,267
• Average rental income potential - houses: $5,192 per month
• Average rental income potential - condos: $3,227 per month
• Airbnb rank in Richmond - houses: 12th
• Airbnb rank in Richmond - condos: 6th
• Total assessed properties in Sea Island: 282

Sea Island is a small, specific market. Every sale moves the needle. If you're thinking about making a move this summer, knowing exactly where you stand - with a live, accurate price - is the only way to play it smart.

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.