The Richmond Townhouse Market Is Moving Faster Than You Think. Here Is What Upsizers Need to Know.

Something in the Richmond townhouse numbers caught my attention this week and I want to walk you through it because I think it changes the calculus for anyone who has been sitting on the upsizing decision.

The absorption rate for townhouses in Richmond right now is 8.7 percent. That number might not mean much to you on its own so let me give you the context. The absorption rate for Richmond as a whole, across all property types, sits at 5.4 percent. The absorption rate for detached houses specifically is 4.7 percent. The townhouse segment at 8.7 percent is the most active part of the Richmond market right now by a significant margin. It means that of the 403 active townhouse listings in the city, 35 sold in the last 30 days. Homes in this segment are selling in an average of 33 days, faster than the overall Richmond market average of 40 days.

For anyone thinking about upsizing, here is what that tells you. The townhouse buyers are already back. They are not waiting for a clearer signal. They are acting now, in this market, at these prices, and the inventory is starting to move as a result. The average sold price for Richmond townhouses right now is $1,025,442, which is up 1.3 percent compared to the 90-day average. In the same market where overall prices have been correcting, townhouses in Richmond are already showing price stabilization and early upward movement.

I want to be straight with you about what this means. You are not in a panic situation. The absorption rate at 8.7 percent is still technically buyer's market territory. You still have negotiating room. You can still write an offer with subjects, take the time to review the strata documents properly, and avoid the pressure of competing against multiple offers on the same property. But if you have been planning to upsize and you have been waiting for the townhouse segment to find its floor before you move, the data is telling you that floor may already be forming.

On the condo side, which is the other half of your transaction as a move-up buyer, the picture is still very much in your favour as a seller. Richmond overall has 2,059 active listings and an absorption rate of 5.4 percent, meaning the condo segment specifically is softer than townhouses. If you own a condo in Richmond and you are selling into this market, your buyer pool is patient and rate-conscious, which means pricing correctly and presenting well matters enormously. But the buyers are there. Condos that are priced right and well-maintained are selling in 40 days on average across the city.

The spread between what you are selling and what you are buying is the number that actually matters for upsizers. Right now the condo benchmark across Greater Vancouver sits at $695,200 and the townhouse benchmark sits at $1,046,200 based on the GVR June 2026 data. That is a gap of roughly $351,000. Depending on how much equity you have built up in your condo, your down payment on the townhouse, and what your mortgage looks like at current rates in the low to mid four percent range, the monthly carrying cost of making this move is often more manageable than people assume before we sit down and actually model it out.

What I tell every upsizer I work with is this. The decision is never just about the market timing. It is also about where you are in your life. If you have been living in a one or two bedroom condo in Richmond and you are feeling the squeeze, whether that is a growing family, a need for a proper home office, a desire for a garage, or just wanting to feel like your home actually fits your life, that quality of life improvement does not wait for a perfect market. The best time to make that move is when the numbers work for you personally and the market conditions are reasonably favourable. Right now, both of those things are true.

The townhome product available in Richmond at the moment is genuinely good. Hamilton and West Cambie have newer builds with EV charging, modern floor plans, and well-funded stratas. Steveston has tighter supply but exceptional long-term value. The areas around Brighouse and Capstan Village have townhome options that keep you connected to the Canada Line while giving you the square footage and outdoor space that makes the daily difference.

If you are ready to have a real conversation about what the move from your condo to a Richmond townhome looks like for your specific situation, I am here for that conversation. Let's look at the numbers together.

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