There Are 953 Condos for Sale in Richmond Right Now. Here Is How to Find the Right One.

I want to talk to you like a friend who happens to know this market inside and out, because I think that is exactly what first-time buyers in Richmond need right now and are not always getting.

There are 953 active condo listings in Richmond as of this week. The average asking price sits at $754,075. The city has 2,059 total active listings across all property types, with homes selling in an average of 40 days and an absorption rate of 5.4 percent. If those numbers feel abstract, let me translate them into something that actually means something to you.

An absorption rate of 5.4 percent means that for every 100 condos available in Richmond right now, only about five are selling each month. That is a slow market by any measure. And in a slow market, the buyer has the power. Full stop.

What that means practically is that you are not rushing into anything. You are not writing an offer the same day you walk through a unit because someone else is lined up behind you. You have the time to look at five or six buildings, compare their strata financials, read the depreciation reports, ask hard questions about upcoming special levies, and make a decision that you genuinely feel good about. That kind of process was essentially impossible in 2021 and 2022. Right now it is completely normal and sellers expect it.

The GVR June 2026 data backs this up at the regional level too. The apartment benchmark across Greater Vancouver is $695,200, down 7.1 percent from a year ago. Richmond specifically saw apartment prices down 4.7 percent year over year according to the mid-2026 GVR sub-area breakdown. You are entering a market where prices have corrected meaningfully from their peak and where the inventory gives you real choice.

Now let me tell you what I actually think about buying a condo in Richmond specifically, because I am not just throwing statistics at you. I live and work in this city. I know which buildings have well-run stratas and which ones are struggling. I know which Canada Line corridors are going to hold their value better over the next decade because of what is coming in terms of density and development. I know which blocks in Brighouse are walkable in a way that genuinely changes your day, and which ones look good on a map but feel disconnected when you actually live there.

The $754,000 average asking price across Richmond condos is a starting point, not the ceiling. There is real product in the $580,000 to $680,000 range for buyers who are willing to look at slightly older buildings or smaller floor plans, and a lot of those buildings have better bones than the shiny new towers that come with $700 a month strata fees and a depreciation report that has never been tested. Knowing the difference between those two categories of building is something I can actually help with.

For first-time buyers who are eligible for the First Home Savings Account, the RRSP Home Buyers Plan, the federal GST rebate on new builds, and the 30 year insured amortization that has been available since late 2024, the financial picture is more accessible than the headlines suggest. The stress test is still a reality and strata fees need to be factored in carefully. But for a buyer who is prepared and has the right guidance, Richmond in July 2026 is one of the most navigable markets this city has seen in years.

I am not the realtor who is going to tell you to buy now because the market is about to explode. I am the realtor who is going to sit down with you, look at your actual numbers, walk you through the buildings that make sense, and make sure you understand exactly what you are getting into before you sign anything. That is what I would want from someone helping me make the biggest financial decision of my life.

If you are thinking about buying your first place in Richmond, I would love to talk. No obligation. Just an honest conversation about what is realistic for you right now.

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