Seafair, Richmond - July 2026 Real Estate Report

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

If you own a house in Seafair and you have not checked your HonestDoor Price lately, here is the short version - the city's assessment is already behind. The average assessed value sits at $1,893,293, but the average HonestDoor Price is $1,952,964. That is a $59,671 gap, and it matters when you are making decisions about selling, refinancing, or just knowing where you actually stand.

The Vibe: Houses vs. Condos in Seafair

We are living in one of Richmond's priciest pockets, and the numbers back that up. But the house market and the condo market are telling two very different stories right now.

Houses - Still the Crown Jewel

Houses in Seafair are holding serious value. Here is a quick snapshot of where we are at:

• Average HonestDoor Price: $1,952,964
• Average sale price: $2,530,000
• Price per square foot: $753
• Predicted market value: $1,963,795 - up from the 3-month average of $1,941,731
• Estimated monthly rent: $6,716 to $6,744
• Rental yield: 3.82%
• Airbnb potential: $334 to $335 per night
• Price rank in Richmond: 1 out of 13 - the most expensive
• Airbnb rank in Richmond: 1 - top of the board
• Neighbourhood growth rank: 9 out of 15 - below average
• Year-over-year growth: -0.06%
• Recent value change: +1.68%
• Transactions in 2026: 6

The price trend is actually ticking upward in the short term - that predicted value of $1,963,795 is climbing past the 3-month moving average. Sales volume is thin with only 1 house sold recently, but when houses do move in Seafair, they move at the top of the Richmond leaderboard. On the neighbourhood leaderboard for growth, we rank 9 out of 15, which means we are not leading the pack - but with prices ranked number 1, Seafair is still where Richmond's most valuable homes live.

Compare us to the neighbours: Thompson next door has an average HonestDoor Price of $1,965,576 - slightly ahead of us - and Steveston comes in at $1,639,812, which is a meaningful step down. If you own a house here, you are sitting in elite company.

Condos - Taking a Breather

The condo side of Seafair is a different conversation. Values have softened, and we should be straight about that.

• Average HonestDoor Price: $500,318 - up 3.91% from last period
• Average assessed value: $506,164 - HonestDoor is 1.15% below assessment here
• Average sale price: $402,500
• Price per square foot: $574
• Predicted market value: $481,489 - down from the 3-month average of $491,891
• Estimated monthly rent: $2,442 to $2,522
• Rental yield: 3.87%
• Airbnb potential: $121 to $125 per night
• Price rank in Richmond: 11 out of 13 - among the most affordable
• Growth rank in Richmond: 14 out of 15 - bottom of the board
• Recent value change: -4.17%
• Transactions in 2026: 3

On the neighbourhood leaderboard, Seafair condos rank 14 out of 15 for growth. That is a number worth paying attention to. The predicted value is sliding below the 3-month average, and nearby condos in Steveston ($993,474) and Blundell ($963,703) are priced nearly double what we see here. That gap is not a badge of honour for Seafair condos - it signals that buyers looking for condo value in Richmond are shopping elsewhere. The 3.91% uptick in HonestDoor Price is a small bright spot, but the overall trend is soft.

The Secret Sauce: Why Your HonestDoor Price Is the Number That Actually Matters

Here is the thing about BC Assessment - it is a snapshot from July 1 of the previous year. By the time it lands in your mailbox, the market has already moved. The HonestDoor Price is updated in real time using actual sales data, so it reflects what buyers are paying right now, not what they were paying 12 to 18 months ago.

For Seafair house owners, that gap is $59,671 in your favour. The city says your home is worth $1,893,293. The real-world market says $1,952,964. If you are making any financial decision - selling, refinancing, even just negotiating - using the stale assessment number is leaving money on the table.

For condo owners, the picture flips slightly. The HonestDoor Price of $500,318 is actually 1.15% below the assessed value of $506,164. That means the assessment may be giving you a rosier picture than the current market supports. Knowing that now - before you list - is exactly the kind of edge that saves you from overpricing and sitting on the market.

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

If you own a house in Seafair and you are thinking about selling this summer, the timing has some things going for it. Prices are ranked number 1 in Richmond. The short-term trend is moving up. Buyers who want the best houses in Richmond are going to end up in Seafair or Thompson - and Thompson is only marginally ahead of us. With only 6 transactions so far in 2026, inventory is tight, which generally works in a seller's favour.

The honest caution: year-over-year growth is slightly negative at -0.06%, and the neighbourhood growth rank of 9 out of 15 tells us Seafair is not the fastest-moving market in the city right now. This is not a panic signal - it just means pricing your home accurately from day one matters more than ever. An overpriced listing in a slow-growth market sits. A well-priced one in Richmond's most expensive neighbourhood sells.

If you own a condo and are thinking about selling, move with eyes open. The market is soft, the growth rank is near the bottom, and the predicted value is trending down. That does not mean you cannot sell - it means you need a sharp, realistic price and a clear understanding of what buyers are actually paying, not what the assessment says. Check your HonestDoor Price, compare it to the $402,500 average sale price we are seeing, and price to move.

Bottom line for Seafair: houses are a strong asset in a premium location that is holding its ground. Condos need a realistic strategy. Either way, the HonestDoor Price is your best starting point - not a number that was calculated before most of 2025 even happened.

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.