Thompson, Richmond - October 2026 Real Estate Report
Thompson, Richmond: Your Home Is Worth More Than the City Thinks
If you've been glancing at your latest property assessment and wondering if that number is actually what your home is worth - it isn't. The city's assessment is a snapshot from the past. The real number, right now, is higher. Here's the full picture for Thompson homeowners in 2026.
The Vibe: What's Happening With Houses and Condos in Thompson
Let's be straight with each other. Thompson is not the hottest market in Richmond right now, but it is holding its own in a segment that matters - price. Here's how houses and condos are stacking up:
Houses in Thompson
- Average assessed value: $1,840,076
- HonestDoor Price: $1,942,477 - that's $102,401 more than what the city says your home is worth
- Average sale price in 2026: $1,719,333
- Price per square foot: $1,014
- Properties sold in 2026: 23 total transactions; 3 sold last month
- Predicted market value: $1,931,137
- 3-month moving average: $1,952,606 - values are easing slightly
- Estimated monthly rent: $6,612 with a rental yield of 3.86%
- Airbnb potential: $328 per night
- Recent value change: -1.53%
- Neighbourhood growth: -0.07% year over year
- Growth rank in Richmond: 12 out of 14 - near the bottom of the leaderboard
- Price rank in Richmond: 5 out of 13 - above average, which still counts for a lot
We are not going to sugarcoat it. On the growth leaderboard, Thompson houses are sitting near the back of the pack right now - 12th out of 14 neighbourhoods tracked. The market is taking a breather. But here's the flip side: we are still ranked 5th for price out of 13 comparable neighbourhoods. That means Thompson is a premium address. Buyers know it. The volume is just quiet.
Condos in Thompson
- Average assessed value: $601,873
- HonestDoor Price: $636,168 - again, ahead of the city's number
- Average sale price in 2026: $606,000
- Price per square foot: $615
- Properties sold in 2026: 2 total transactions; 1 sold last month
- Predicted market value: $637,649
- 3-month moving average: $643,069 - a small dip in momentum
- Estimated monthly rent: $3,027 with a rental yield of 3.57%
- Airbnb potential: $150 per night
- Recent value change: -0.73%
- Neighbourhood growth: -0.06% year over year
- Growth rank in Richmond: 8 out of 15 - below average on the leaderboard
- Price rank in Richmond: 8 out of 13 - sitting right in the middle of the pack
Condo activity in Thompson is thin - only 2 transactions so far in 2026. That low volume makes it harder to call a clear trend. What we can say is that the predicted value of $637,649 is holding close to nearby Sea Island at $639,900. We are essentially neck and neck with one of our closest neighbours. Growth is below average at 8th out of 15, but the slide is modest at -0.73%. This is not a freefall - it is a slow drift.
The Secret Sauce: Why Your HonestDoor Price Matters Right Now
Here is the thing about your city assessment. It is calculated once a year using data that is already months old by the time it lands in your mailbox. It is a rearview mirror reading of your home's value. The HonestDoor Price is updated in real time using actual market activity, comparable sales, and current demand signals.
For Thompson houses, that gap is $102,401. The city says $1,840,076. HonestDoor says $1,942,477. That is a 5.57% difference. For condos, the city says $601,873. HonestDoor says $636,168 - a 5.70% gap. If you are making any financial decision based on your assessment alone - refinancing, selling, even just benchmarking your net worth - you are working with an outdated number. Check your HonestDoor Price first.
The So What: Should You Sell in Thompson This Summer?
If you are a house owner thinking about listing this summer, here is the honest read. Prices are not crashing - your home is still a top-5 priced asset in Richmond. But momentum has softened. The predicted value of $1,931,137 is sitting below the 3-month moving average of $1,952,606, and growth ranks 12th out of 14 neighbourhoods. Waiting for a big run-up this season is probably wishful thinking.
What that means practically: if you need to sell, now is not a bad time - you are still commanding a premium price in a premium neighbourhood. If you can wait, watch the next two months of transaction data closely. With only 3 house sales last month, one or two strong closings can shift the numbers fast.
For condo owners, the calculus is similar but quieter. Volume is very low. One sale can move the average significantly in either direction. If your unit is well-positioned, a thin market can actually work in your favour - less competition on the street means your listing stands out.
Either way, start with your HonestDoor Price. It is the most current read you have got - and in this market, current beats everything.
thompson | 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.