Richmond Condo Market Update - February 2022
The Richmond condo market continued to show fairly strong buying interest from buyers through the seasonally weaker sales month during the winter months of December 2021 and January and February of 2022.
The active Richmond condo listings for December 2021 were the lowest over the past 12 months period. The addition of more listings in January and February and the moderate sales during these 2 months had resulted in the total inventory showing a small update.
The overall market for condos in Richmond is still in the Seller Market situation where home sellers still demand their prices and little price flexibility were shown - small discount from their asking prices. View Richmond City Centre condos for sale using this link.
It is still too early to tell whether there will be more listings coming on the market, and whether demand for condos will diminishes. The most active price band for condos is in the $400,000 to $899,999 range with an average 18 days absorption rate. In February, there were 209 active listings and 189 sales.
If you are thinking of buying or selling your home in Richmond, kindly contact James Wong @ 604-721-4817 or email James for to discuss your real estate needs.