Seafair, Richmond - August 2026 Real Estate Report

Seafair, Richmond: Your Home Is Worth More Than the City Thinks - Here's the Proof

If you own a home in Seafair and you've been glancing at your latest property assessment, here's something worth knowing: the city's number is already behind. The real-world market tells a different story, and for most of us here, it's a better one.

The Vibe: What's Actually Happening in Seafair Right Now

Seafair is holding its ground as one of Richmond's priciest addresses. We're not seeing a boom, but we're not seeing a bust either. The market is taking a breather - and that's not necessarily bad news if you know how to read it.

Houses

• Average sale price: $2,750,000
• Price per square foot: $985
• HonestDoor predicted value: $1,952,964 - up from the 3-month average of $1,949,360
• Estimated monthly rent: $6,716 with a rental yield of 3.82%
• 2 properties sold in the most recent period
• Price rank: 1 out of 13 neighbourhoods in Richmond - we are at the top
• Growth rank: 8 out of 15 - sitting in the middle of the pack right now
• Recent value change: -0.55%

Houses here are the most expensive in Richmond, full stop. The growth rank of 8 out of 15 means we're not leading the charge right now, but when you're already at the top of the price leaderboard, holding steady is still a strong position.

Condos

• Average sale price: $402,500
• Price per square foot: $574
• HonestDoor predicted value: $500,318 - up from the 3-month average of $494,747
• Estimated monthly rent: $2,522 with a rental yield of 3.84%
• 2 properties sold in the most recent period
• Price rank: 12 out of 13 - among the most affordable condos in Richmond
• Growth rank: 2 out of 15 - this is a top performer on the neighbourhood leaderboard
• Recent value change: +3.91%

Here's the condo story that deserves attention. Seafair condos are among the most affordable in Richmond, yet they rank 2nd in the entire city for growth. That combination - low price, strong momentum - is exactly what buyers and investors look for. For condo owners here, the timing is worth paying attention to.

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

Your city assessment is a snapshot taken months ago, based on data that was already old when they printed it. It does not move with the market. The HonestDoor Price does.

For houses in Seafair, the average HonestDoor Price is $1,941,338. The average city assessment is $1,893,293. That's a gap of roughly $48,000 that the city is simply not giving you credit for. If you're making any financial decision - refinancing, selling, or just understanding your net worth - using the assessment alone means you're working with an incomplete picture.

For condos, the situation flips slightly. The average HonestDoor Price of $496,226 sits about 1.96% below the average assessed value. That's the market giving you a more honest read than the city's number, and it matters if you're pricing a listing or negotiating a sale.

The HonestDoor Price updates in real time. Your tax assessment does not. That difference is the whole ballgame.

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

For house sellers, Seafair is still the most expensive neighbourhood in Richmond for detached homes. That's a real advantage when you're listing. The market has softened slightly - values are down 0.55% recently - but you're selling from the top of the mountain. Buyers who want Seafair know they're paying for it, and there's no neighbourhood in Richmond that outranks us on house prices.

For condo sellers, the story is even more interesting. A 3.91% recent value increase and a growth rank of 2nd in Richmond means momentum is on your side right now. Condos here are affordable relative to the rest of the city, and that draws buyers. If you've been sitting on the fence, this summer's data is pointing in a clear direction.

One number to keep in mind for both: only 8 total property transactions happened in Seafair in 2026 so far. This is a low-volume market. That means when a well-priced home hits the street, it stands out. Pricing it right - using your HonestDoor Price as the anchor, not the city's stale assessment - is the difference between a quick sale and a listing that sits.

• Seafair house Airbnb rank: 1st in Richmond at $332 per night average
• Total assessed properties: 4,336 houses and 1,022 condos
• Neighbourhood growth: -0.06% year over year for houses, -0.07% for condos
• Nearby comparison: Thompson houses are slightly pricier at $1,961,105 HD Price; Steveston condos are much higher at $993,827

Bottom line: Seafair is not a neighbourhood that makes noise. It just quietly stays expensive, attracts serious buyers, and rewards owners who know their actual numbers. Check your HonestDoor Price before you make any move this summer.

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.