Thompson, Richmond - July 2026 Real Estate Report

Thompson, Richmond: Your Neighbour Just Got a Surprise on Their Assessment - Here Is What Is Actually Going On

If you own a home in Thompson and you have been glancing at your BC Assessment notice thinking "that seems low," you are probably right. The real numbers tell a different story - and it is worth paying attention before the summer market heats up.

The Vibe: What Is Happening With Houses and Condos Right Now

Let us break it down by property type, because houses and condos are moving in different directions here.

Houses in Thompson - Holding Strong at the Top

Houses in Thompson are sitting at a HonestDoor Price of $1,965,576. That is not a typo. The city's average assessed value clocks in at $1,840,076 - a full $125,500 below what the real-world market is saying. The gap is 6.82%. That is money sitting on the table that your tax notice is not showing you.

The predicted market value for houses is even sharper at $1,971,294, and it is trending up from the 3-month moving average of $1,940,878. So the direction of travel is positive, even if the broader neighbourhood growth rate dipped a modest 0.07% year over year. Think of it as the market taking a breather, not backing down.

• Average HonestDoor Price (Houses): $1,965,576
• Average Assessed Value: $1,840,076 - that is $125,500 less than the HD Price
• Predicted Market Value: $1,971,294
• 3-Month Moving Average: $1,940,878 (trending up)
• Recent Price Change: +2.80%
• Average Sale Price: $1,150,000
• Price Per Square Foot: $717
• Estimated Monthly Rent: $6,702
• Airbnb Potential: $333 per night - ranked No. 2 in all of Richmond
• Neighbourhood Leaderboard - Growth Rank: 3 out of 15 in Richmond (top tier)
• Neighbourhood Leaderboard - Price Rank: 5 out of 13 in Richmond (above average)
• Properties Assessed: 4,015
• Transactions in 2026: 15

That Airbnb rank of No. 2 in Richmond is a big deal. If you own a house in Thompson and you are not at least running the short-term rental numbers, you are leaving serious income on the table. At $333 a night, this neighbourhood competes with the best in the city.

How does Thompson stack up against the neighbours? Seafair is priced at $1,952,964, Sea Island at $1,356,551, and Steveston at $1,639,812. Every single nearby neighbourhood is cheaper. We are the price leader on this block.

Condos in Thompson - A Bit More Nuance Here

The condo picture is a little more mixed, and we should be honest about that. The HonestDoor Price for condos is $649,247 - up 3.01% from the previous period, which is a solid jump. The assessed value sits at $601,873, meaning the HD Price is running 7.87% higher. Again, the assessment is underselling what the market thinks these units are worth.

That said, the predicted market value of $630,280 is dipping slightly below the 3-month moving average of $639,816, and recent price change is -2.36%. The condo segment is taking a breather. Not a freefall - just a pause.

• Average HonestDoor Price (Condos): $649,247 - up 3.01% from last period
• Average Assessed Value: $601,873 - that is $47,374 less than the HD Price
• Predicted Market Value: $630,280
• 3-Month Moving Average: $639,816 (trending slightly down)
• Recent Price Change: -2.36%
• Average Sale Price: $430,000
• Price Per Square Foot: $638
• Estimated Monthly Rent: $3,070
• Rental Yield: 3.58% (moderate returns)
• Airbnb Potential: $152 per night
• Neighbourhood Leaderboard - Growth Rank: 5 out of 15 in Richmond (above average)
• Neighbourhood Leaderboard - Price Rank: 9 out of 13 in Richmond (below average)
• Properties Assessed: 863
• Transactions in 2026: 1

On the condo side, Seafair comes in cheaper at $500,318 and growing slower. Steveston is much higher at $993,474. Sea Island sits at $685,300. Thompson condos are priced in a reasonable middle ground, and the rental income at $3,070 a month gives investors a real reason to look here.

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

Here is the thing about BC Assessment - it is a snapshot from July 1 of the previous year. By the time that notice lands in your mailbox, the market has already moved on. It is like checking last year's weather forecast to decide what to wear today.

The HonestDoor Price is updated in real time. It pulls from actual transaction data, current market signals, and comparable sales - not a government formula that runs months behind. For houses in Thompson, that difference is $125,500. For condos, it is nearly $47,400. Those are not rounding errors. That is real equity that your assessment is not capturing.

If you are a homeowner in Thompson and you are making any financial decision - refinancing, selling, even just benchmarking your net worth - the HonestDoor Price is the number you should be starting with. Not the assessed value.

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

If you are a house owner in Thompson and you are thinking about listing this summer, the data is working in your favour. Growth rank of 3 out of 15 in Richmond puts us near the top of the leaderboard. The predicted value is climbing past the 3-month average. And every comparable neighbourhood is priced below us - which means buyers looking at Seafair, Steveston, or Sea Island will eventually look at Thompson and see the value.

The short answer: supply is tight (15 transactions in all of 2026 so far), and demand for this price tier in Richmond does not disappear. Tight inventory plus a top-3 growth rank is a decent setup for a seller.

For condo owners, the picture calls for a bit more patience. The recent -2.36% price shift and a predicted value slightly below the moving average suggest this is not the peak moment to rush a listing. But the HonestDoor Price is still running well above the assessed value, and a 3.58% rental yield means holding the unit while you wait is not a bad play either.

Bottom line: Thompson is one of Richmond's pricier neighbourhoods for a reason. The data backs it up. Check your HonestDoor Price at HonestDoor.com - it is the fastest way to see what your home is actually worth today, not what the city thought it was worth last July.

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.