Richmond BC Single Family Home Real Estate Market Report By Neighbourhood


Blog by Arnold Shuchat | February 4th, 2013


Price Bracket #of Properties  #sold last 30 days  % of those listed
  <$700,000 9 1 11
  $701-800k 42 5 12
  $801-900k 73 3
$901-1000k 88 2
$1001-1100k 57 0
$1101-1200k 58 3 5
  $1201-1300k 50 3 6
  $1301-1400k 49 0 0
  $1401-1500k 36 0
$1501-1600k 42 2 5
  $1601-1700k 39 1 3
  $1701-1800k 31 0 0
  $1801-1900k 23 0 0
  $1901-2000k 23 0 0
  $2001+ 96 3 3* (larger category of pricing)
The following table looks at the real estate activity for the different neighbourhoods in Richmond, B.C. From January 1 to February 1, 2013 for single family homes. Unlike some of my previous posts, this takes into account all of the Richmond neighbourhoods including Hamilton and East Cambie.  I usually focus on the west side.

A look at these numbers and a comparison to a similar table I posted at the end of September with the same title would indicate that the percentages of properties sold to those listed may have risen slightly.  However, shrinking the denominator of "# of properties listed" does not make for a hotter real estate market.  I use the term, "Sellers making deals with themselves"; other more interesting publications, the ones with pictures, use a different word for it!

Nonetheless, something worth noting is that property listings are down significantly and in general, if someone wants to buy, they usually choose from among the properties listed.  So there is less choice.  But one has to figure, that if a prospective seller wanted to sell in September, they most likely still want to sell.  It remains to be seen whether the listing numbers will climb to their early fall numbers.  The other observation is that 43 sales divided by a whole lot of Realtors, is as I noticed from some Craigslist post yields a whole lot of BMWs for sale!  Whereas buyers do look at the age of a residential property and around here "newness" appears to be a more salient buying feature than eslewhere in the country, it really is no big deal if a house is a 2009 or a 2011 model.  But a BMW on the other hand....  I predict falling used Bimmer prices....and alot of lease takeovers; good on them.  I always thought driving around buyers in a very high end luxury car was a bit "in your face".  

Neighbourhood Properties For Sale   #Sold Last 30 days  % of those For Sale


Sea Island 3 0 0
Bridgeport 13 0 0
West Cambie 42 2 4.7
East Cambie 22 1 4.5
Terra Nova 36 0 0
Riverdale 55 3 4.2
Quilchena 41 4 9.7
Granville 62 3 4.8
Seafair 76 3 3.9
Boyd Park 20 0 0
Lackner 36 3 8.3
Steveston Village 22 2 9
Steveston North 50 3 6
Steveston South 23 2 8.7
Westwind 36 1 2.8
Woodwards 49 2 4
Broadmoor 69 4 5.8
Garden City 46 2 4.3
Saunders 45 0 0
Southarm 20 2 10
Brighouse 5 0 0
Brighouse South 2 0 0
McLennan North 12 0 0
Gilmore 6 1 16.6
McLennan 16 0 0
McNair 19 3 15.7
Ironwood 25 2 8

Totals: 811 43
Average: 4.85