Richmond Real Estate Market

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Richmond is an island city. It is made up of a number islands in the Fraser River delta. It is just one meter above sea level. It was prone to flooding, especially during high tide. Therefore, major islands are now surrounded by a system of dykes, which serve to protect the town. Also, since it occupies land in a river delta, the city has plenty of rich soil for agriculture. Richmond is a culturally unique community. As of 2021, the city has an estimated population of 209,937 people with 60 percent being immigrants, the highest proportion of immigrants in Canada. Majority of immigrants are Chinese. Richmond has been experiencing growth and change, transforming from a rural, local community to an international city with a balance of urban, suburban family and rural areas. The city is 20 minutes from downtown Vancouver and 25 minutes from US border. It’s the location of Vancouver’s international airport.  The SkyTrain, Canada Line, speeds up transit system and connects Richmond to other
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Detached Property Market in Greater Vancouver

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Detached Property

Greater Vancouver, also known as Metro Vancouver, is a metropolitan area with a population 2,642,825 based on the 2021 census. Click here for the map and detail population in each sub-area. The city of Vancouver is its major urban center.

The table below, from the Jan. statistic report, is a list of benchmark price and percentage changes in each sub-area of Greater Vancouver. The list is in decreasing price order. The table indicates that the highest benchmark price is in Vancouver West at  $3,445,400, and the Sunshine Coast is the lowest benchmark price at $900,000.  However, Vancouver West has the lowest percentage change in the 1,5 and 10 years range. The numbers with the yellow mark are the areas with the highest price changes.  

Detached Property Market

If you would like to have information regarding townhouse or apartment market in Greater Vancouver, please click here or contact me at awang@macrealty.com

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