Thompson, Richmond - September 2026 Real Estate Report

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

If you own a home in Thompson and you have not checked your HonestDoor Price lately, you are probably sitting on more equity than your last tax assessment is telling you. Here is the real picture right now.

The Vibe: What Is Actually Happening in Thompson

Thompson is a quiet achiever in Richmond. We are not seeing a frenzy, but we are not seeing a fire sale either. The market is taking a breather - values are dipping slightly - but the fundamentals here are solid. With 4,015 properties assessed and 20 transactions recorded in 2026, this is a neighbourhood where people hold on to what they have. That tells you something.

On the neighbourhood leaderboard, Thompson ranks 3rd out of 15 in Richmond for house growth, and 4th overall for total transactions. That is a top-tier position. Not every street in Richmond can say that.

Houses: The Numbers That Matter

If you own a house in Thompson, here is your snapshot right now.

• Average HonestDoor Price: $1,931,137
• Average Assessed Value: $1,840,076
• HonestDoor Price is 4.95% above the city assessment
• Predicted Market Value: $1,961,105
• Average Sale Price (2026): $1,323,250
• Price Per Square Foot: $744
• Estimated Monthly Rent: $6,678
• Rental Yield: 3.85%
• Airbnb Potential: $332 per night - ranked 2nd in Richmond
• Recent Value Change: -0.23%
• Growth Rank: 3rd out of 15 neighbourhoods in Richmond

Yes, the predicted value is slightly off its 3-month moving average of $1,965,992. A small dip. But zoom out - your house is still priced well above what the city assessed it at, and it is holding its own against every comparable neighbourhood nearby. Seafair, Sea Island, and Steveston are all cheaper and growing at a similar or slower pace. Thompson is still the address people want.

Condos: Affordable Entry, Steady Ground

For us condo owners in Thompson, the story is a bit different - but not bad. Values have dipped 1.07% recently, and the growth rank sits at 9th out of 15 in Richmond. Below average, sure. But here is the flip side: Thompson condos are among the most affordable in Richmond, ranking 11th out of 13 on price. That is actually a selling point if you are trying to attract buyers.

• Average HonestDoor Price: $637,649
• Average Assessed Value: $601,873
• HonestDoor Price is 5.94% above the city assessment
• Predicted Market Value: $642,312
• Average Sale Price (2026): $430,000
• Price Per Square Foot: $638
• Estimated Monthly Rent: $3,041
• Rental Yield: 3.56%
• Airbnb Potential: $151 per night
• Recent Value Change: -1.07%
• Growth Rank: 9th out of 15 neighbourhoods in Richmond

One thing worth noting - the predicted condo value of $642,312 is actually trending upward from the 3-month moving average of $640,613. That is a small but real positive signal. And compared to Seafair condos, Thompson still comes out ahead on price.

The Secret Sauce: Why Your HonestDoor Price Is the Number to Watch

Here is the thing about city assessments - they are a snapshot from the past. The BC Assessment figure on your property tax notice is based on data from July 1 of the previous year. A lot can change in 12 months. The HonestDoor Price updates in real time using actual sales data, market trends, and current conditions.

For Thompson house owners, that gap is $91,061 - the difference between the city's assessment of $1,840,076 and the HonestDoor Price of $1,931,137. For condo owners, the gap is $35,776. That is real money sitting in your walls that a static government number is not capturing.

If you are making any financial decision - refinancing, selling, even just benchmarking your net worth - use the HonestDoor Price as your real-world check. It is the number that reflects what a buyer would actually put on the table today.

The So What: Should You Sell in Thompson This Summer?

If you own a house in Thompson and you have been thinking about listing, the timing is not terrible - but you need to go in with clear eyes. Values are off slightly from their recent peak, and the broader Richmond market is not running hot right now. That said, Thompson sits in the top 3 for growth in Richmond, your Airbnb ranking is 2nd in the city, and demand for this neighbourhood is real.

The honest take - if you need to sell, you are in a strong relative position compared to most of Richmond. If you can wait, a small recovery could close that gap between today's predicted value and the 3-month moving average. Either way, do not price off your tax assessment. Price off your HonestDoor Price. That $1,931,137 figure is the one that reflects what the market is actually doing right now.

For condo owners, the summer picture is more cautious. With only 1 transaction recorded in 2026 and a recent dip of 1.07%, this is not the moment to rush. If you are selling, lean into the affordability angle - Thompson condos are priced competitively against the rest of Richmond, and that is a genuine draw for first-time buyers watching their budget.

Bottom line - Thompson is holding its ground. Watch your HonestDoor Price, not your tax bill.

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.