The Fall Market in Richmond Is Reactivating. For Upsizers, Here Is Why the Next Eight Weeks Matter.

As of August 23, 2026, something has quietly shifted in the Greater Vancouver market that I think every Richmond and Burnaby condo owner thinking about upsizing needs to understand.

Buyer confidence has returned. Interest rates have stabilized after the Bank of Canada's extended cutting cycle. And inventory in key neighbourhoods is thinning heading into the traditional September rebound. That combination is what a market inflection point looks like before it becomes obvious to everyone. And right now, Richmond is sitting right in the middle of one.

Let me give you the specific numbers.

Richmond currently has 402 active townhome listings with a median asking price of $1.1 million. The average sold price across all Richmond property types is $950,000, down 19 percent from August 2025. The condo segment has 942 active listings with a median asking price of $668,000. Both sides of the upsizing equation are meaningfully corrected from their peaks and sitting at the most accessible price points we have seen in this city in several years.

Here is what the inflection point means for you practically.

Active listings across Greater Vancouver are down roughly nine percent from the July 2025 peak. That inventory is drawing down. At the same time, analysts tracking the market are noting that buyers who sat out 2024 and 2025 are now watching and worrying about missing another cycle. That fear of missing out is not at 2021 levels but it is beginning to build, and it concentrates first in the most accessible and in-demand segments. In Richmond and Burnaby, that means the townhome segment specifically.

The data on Burnaby is worth noting here. Burnaby North and South are showing townhome demand that is exceptional, with benchmark prices up 5.2 percent year over year in that segment. That is not a buyer's market figure. That is a segment where supply and demand are rebalancing faster than the broader narrative suggests. If you have been watching Burnaby townhomes as part of your upsizing search and you have been waiting for conditions to get better, the data is telling you that window may have already shifted in that sub-market.

For Richmond specifically, the fall market brings a dynamic that most people underestimate. September through mid-November is historically when the widest selection of townhomes is available in the city for the year. Sellers who wanted to be done before summer listed in spring. Sellers who were watching the market through summer are now listing for the fall push. And buyers who have been waiting come back at the same time. That overlap of fresh inventory and returning buyer interest creates a window where you can find well-priced product and still negotiate sensibly, as long as you are not competing against a wave of buyers who all had the same idea a month later.

The financial picture for a Richmond upsizer right now is more manageable than most people assume before we actually sit down and model it. Median condo asking price of $668,000 on the sell side. Median townhome asking price of $1.1 million on the buy side. That is a gap of roughly $432,000. Depending on your down payment, the equity you have built in your current condo, and what your mortgage looks like at current rates of approximately 4.15 to 4.45 percent on a five year fixed, the monthly payment difference between where you are and where you want to be is often in the range of $800 to $1,400 a month for an additional 600 to 800 square feet of living space, a garage, outdoor space, and the ability to actually live the way you want to live. For a lot of families and couples in Richmond who have been feeling the squeeze of condo living, that number is worth taking seriously.

The mechanics of the transition still matter enormously. Pricing your condo correctly from day one. Having your financing in order before you start making offers on townhomes. Understanding what the strata documents look like on the place you want to buy. Knowing which Hamilton or West Cambie buildings have well-managed stratas and which ones come with deferred maintenance surprises. That is where having someone who works in this market every day makes a real difference.

The next eight weeks in Richmond are worth paying attention to. If you are ready to have a real conversation about what your move looks like, reach out.

Neville Mak, REALTOR® The Real Brokerage 778-688-6667 | nevillemakre@gmail.com | nevillemak.ca Serving Richmond and Burnaby