Home prices climb in Richmond

There were 1,872 homes sold in Richmond in the first half of this year


Home prices in Richmond are on the rise despite the fact the COVID-19 pandemic is still on-going.

The average price of a single-family home in Richmond this spring was about $1.9 million – up 26 per cent from a year before. This is slightly higher than the Metro Vancouver average home price index (HPI), which was about $1.8 million in the same time period.

These figures are included in a report going to city council’s finance committee next week as city council meetings start up again after the August break.

Townhomes averaged $923,500 in the second quarter of 2021, which was 17 per cent more than last year at the same time, and apartments were averaging $718,300, up 10 per cent from last year.

And the number of homes sold  in the second quarter of 2021 increased by 234 per compared to the same time last year, which was the beginning of the pandemic.

There were 1,872 residential home sales in Richmond in the first half of 2021.

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Source:  Richmond News