Seafair, Richmond - October 2026 Real Estate Report
Seafair, Richmond: Your Home Is Worth More Than the City Thinks
If you live in Seafair and you have not checked your HonestDoor Price lately, you are probably leaving money on the table. The city's assessment is one number. The real world is another. Right now, those two numbers are telling very different stories depending on whether you own a house or a condo here.
The Vibe: Houses vs. Condos in Seafair
Let's break it down for us locals, because these two property types are moving in opposite directions.
Houses - Still the Crown Jewel
Seafair houses are holding serious value. Here is a quick snapshot of where we stand:
- Average HonestDoor Price: $1,949,975
- Average assessed value: $1,893,293
- HonestDoor Price is 2.99% above the city assessment
- HonestDoor Price increased 1.69% from the previous period
- Average sale price: $1,450,000
- Price per square foot: $603
- Predicted market value: $1,917,511
- Estimated monthly rent: $6,622
- Rental yield: 3.84%
- Airbnb rank in Richmond: No. 1
- Assessed value rank in Richmond: No. 2
- Neighbourhood growth rank: 10 out of 14 in Richmond
Seafair houses sit near the very top of Richmond for assessed value and short-term rental appeal. That No. 1 Airbnb ranking is not a small thing - it means a Seafair house generates more short-term rental interest than any other neighbourhood in the city. The growth rank of 10 out of 14 tells us the market is taking a breather, but the price rank of 3 out of 13 confirms we are still in premium territory. High price, slower growth - that is a stable, mature market, not a falling one.
The 3-month moving average sits at $1,937,271, slightly above the current predicted value of $1,917,511. Values have shifted by -1.23% recently. Nothing alarming, but worth watching if you are timing a sale.
Condos - Affordable Entry, But Watch the Trend
The condo picture in Seafair is a different conversation. Here is the snapshot:
- Average HonestDoor Price: $487,858
- Average assessed value: $506,164
- HonestDoor Price is 3.62% below the city assessment
- HonestDoor Price decreased 2.04% from the previous period
- Average sale price: $402,500
- Price per square foot: $574
- Predicted market value: $498,017
- Estimated monthly rent: $2,510
- Rental yield: 3.84%
- Airbnb rank in Richmond: No. 20
- Assessed value rank in Richmond: No. 11
- Neighbourhood growth rank: 6 out of 15 in Richmond
Here is the honest read: Seafair condos are among the most affordable in Richmond, ranking 12 out of 13 on price. That is actually a decent entry point if you are a buyer. But if you own a condo here, the HonestDoor Price coming in 3.62% below the city's assessed value is a signal worth paying attention to. The market is telling you the city may have overvalued your unit. The growth rank of 6 out of 15 puts condos in above-average territory for Richmond, which is a small bright spot. Values have nudged up 0.36% recently, and the 3-month moving average of $498,187 is nearly flat - so this segment is not crashing, it is just finding its floor.
The Secret Sauce: Why Your HonestDoor Price Matters More Right Now
The city's assessed value is a snapshot from the past. It gets updated once a year and it does not know what happened on your street last month. The HonestDoor Price is updated in real time, pulling from actual sales, current market signals, and neighbourhood-level data.
For Seafair house owners, that gap is working in your favour. The HonestDoor Price of $1,949,975 is nearly $57,000 above what the city assessed. If you are making any financial decisions - refinancing, selling, or just benchmarking your net worth - using the city's number means you are underselling yourself by roughly three percent.
For condo owners, the flip side is true. The city assessed your unit higher than the market currently values it. Knowing that before you list is the difference between pricing right and sitting on the market too long.
With 4,336 houses and 1,022 condos assessed in Seafair this year, there is plenty of data behind these numbers. This is not a guess - it is the most current read on what your property is actually worth today.
The So What - Thinking About Selling This Summer?
If you own a house in Seafair and you are thinking about listing this summer, the timing conversation is real. Here is the straight talk:
- Prices are still strong - No. 2 in Richmond for assessed value is not a bad place to be
- Growth has slowed to -0.06% year over year, so the rapid appreciation days are on pause
- The predicted value is dipping slightly below the 3-month average, which suggests now may be a better window than waiting for fall
- Only 13 transactions happened in Seafair in 2026 so far - low inventory means less competition for sellers
- Your nearest comparable neighbour, Thompson, has an HD Price of $1,942,477 and is growing even slower at -0.07% - Seafair still has the edge
For condo owners thinking about selling, the picture calls for a sharper strategy. With only 3 transactions in 2026 and an HD Price below assessed value, you want to price based on current market reality - not what the city said your unit was worth last January. A well-priced Seafair condo at $487,858 range can move. An overpriced one will sit.
Bottom line: Seafair is one of Richmond's most established, high-value neighbourhoods. The market is not running hot right now, but it is not soft either. It is steady. And in real estate, steady with strong fundamentals is exactly where you want to be when you decide to make a move. Check your HonestDoor Price first - then have the conversation about what comes next.
seafair | richmond | 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.