Steveston, Richmond - July 2026 Real Estate Report

Steveston Real Estate Right Now: Your Neighbour's Assessment Is Lying To You

If you own a home in Steveston and you're still quoting your BC Assessment number at dinner parties, it's time for an update. The real market has moved on - and the gap between what the government thinks your place is worth and what a buyer would actually pay is bigger than most people realize.

The Vibe: What's Happening With Houses and Condos Right Now

Houses

We're in a steady, if quiet, market for Steveston houses. Only 3 homes sold this month - down 50% from last month - so we're not exactly seeing a buying frenzy. But don't let the low volume fool you. The numbers underneath are holding up well.

• Average sale price: $1,605,000
• Price per square foot: $798
• HonestDoor predicted value: $1,629,417
• 3-month moving average: $1,614,725 - and the current prediction is trending above it
• Estimated monthly rent: $5,856
• Rental yield: 4.00%
• Recent value change: up 1.82%
• Growth rank: 7 out of 15 neighbourhoods in Richmond - solidly above average
• Price rank: 4 out of 13 - above average in Richmond

The predicted market value is climbing past the 3-month average. That's a quiet signal that momentum is building, not fading. For us as homeowners, that means the window to capture recent gains is open - but it won't stay open forever if volume stays this thin.

Condos

Condos in Steveston are a different story - and honestly, a more interesting one. Only 1 condo sold this month, and the predicted value of $983,142 is actually dipping slightly below the 3-month moving average of $990,317. So yes, condo values are taking a small breather right now.

• Average sale price: $580,000
• Price per square foot: $658
• HonestDoor predicted value: $983,142
• 3-month moving average: $990,317 - current prediction is trending below it
• Estimated monthly rent: $3,981
• Rental yield: 3.23%
• Recent value change: -1.10%
• Growth rank: 2 out of 15 neighbourhoods in Richmond - a top performer overall
• Price rank: 5 out of 13 - above average in Richmond

Here's the thing that jumps out: the HonestDoor Price for condos sits at $993,474 - a full 31.85% above the average assessed value of $753,465. That is a massive gap. If you own a Steveston condo and you're basing any financial decision on your assessment notice, you are working with seriously outdated information.

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

BC Assessment snapshots the market on July 1st of the previous year. By the time that number lands in your mailbox, it can be 12 to 18 months stale. The HonestDoor Price is updated in real time using actual transaction data, so it reflects what a buyer would pay today - not what someone guessed last summer.

For Steveston houses, the HonestDoor Price of $1,639,812 runs 2.74% above the average assessed value. That's roughly $43,000 sitting on the table that your assessment doesn't account for. For condos, that gap balloons to nearly $240,000. These aren't rounding errors - they're real dollars that matter when you're deciding whether to sell, refinance, or just figure out where you actually stand.

The HonestDoor Price is the real-world check. The assessment is the government's best guess from a year ago. Use the right number.

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

Here's the honest read for Steveston sellers heading into summer 2026.

If you own a house, the market is quiet but not weak. Values are nudging upward, you're ranked 4th on price out of 13 Richmond neighbourhoods, and the predicted value is outpacing the recent average. Low sales volume means less competition from other sellers - which is actually good news if you're the one listing. Pricing it right matters more than ever when buyers have fewer deals to compare you against.

If you own a condo, the short-term trend is softening slightly - that -1.10% recent change is worth watching. But Steveston condos still rank 2nd in Richmond for growth out of 15 neighbourhoods. That's a strong long-term position. If you need to sell this summer, price it sharp and move quickly. If you can wait, the fundamentals here are better than most of Richmond.

Either way, the first thing to do is pull your HonestDoor Price. It's the number that actually reflects today's market - and in Steveston right now, that number is telling a much better story than your assessment notice.

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.