If you’re thinking about selling in Richmond, Steveston, Ladner, or Tsawwassen, March brought a few important signs that the market may be starting to stabilize.

After a slower winter, sales activity in Richmond jumped 46% month over month, which is a meaningful improvement heading into the spring market.

That said, this is still a market that rewards smart pricing, strong presentation, and local strategy. Buyers have more choice than they’ve had in years, and overpriced homes are still getting left behind.

The good news? Well-priced homes are moving, and sellers who understand today’s conditions can still do very well.

Quick Take: What’s Happening in the Richmond Market?

Here’s the short version:

• Sales activity improved in March

• Inventory is still elevated

• Prices remain below last year’s levels

• Detached homes remain softer than townhomes and condos

• Well-presented homes are attracting attention

• Pricing strategy matters more than ever

In other words, this is not a panic market, but it’s also not a market where sellers can simply test a number and hope for the best.

Is Richmond a Buyer’s Market or a Seller’s Market Right Now?

Right now, Richmond is sitting somewhere between a buyer’s market and a balanced market, depending on the property type.

One of the most useful ways to measure this is the sales-to-active listings ratio.

Here’s how that works:

• Below 12% = Buyer’s Market

• 12% to 20% = Balanced Market

• Above 20% = Seller’s Market

As of March 2026:

• Detached homes in Richmond are firmly in buyer’s market territory

• Townhomes are sitting in a more balanced range

• Condos are closer to balanced, but still leaning slightly in the buyer’s favour

That means not all homes are competing under the same conditions.

Richmond Market Snapshot – March 2026

Richmond Detached Homes

• Benchmark Price: $1,995,000

• Year-over-Year Change: -8.0%

• Sales-to-Active Ratio: 8.6%

• Market Type: Buyer’s Market

Richmond Townhomes

• Benchmark Price: $1,035,000

• Year-over-Year Change: -6.5%

• Sales-to-Active Ratio: 14.8%

• Market Type: Balanced Market

Richmond Condos

• Benchmark Price: $671,500

• Year-over-Year Change: -7.5%

• Sales-to-Active Ratio: 11.8%

• Market Type: Balanced / Buyer’s Market

Ladner (Composite)

• Benchmark Price: $1,075,800

• Year-over-Year Change: -6.5%

• Sales-to-Active Ratio: 14.2%*

• Market Type: Balanced Market

Tsawwassen (Composite)

• Benchmark Price: $1,138,000

• Year-over-Year Change: -7.9%

• Sales-to-Active Ratio: 14.2%*

• Market Type: Balanced Market

*Regional average for Greater Vancouver.

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What This Means for Richmond Home Sellers

If you’re selling in today’s market, the biggest shift is this:

Buyers are active, but they are selective.

They are not rushing into homes that feel overpriced, poorly presented, or difficult to compare.

That means sellers need to be more intentional than they were in stronger markets.

The homes doing best right now usually have 3 things in common:

• They are priced properly from the start

• They show well online and in person

• They match what today’s buyers are looking for

That sounds simple, but in this market, it makes a big difference.

Why Pricing Matters So Much Right Now

One of the biggest mistakes sellers make in a shifting market is trying to “test the market” with an aspirational list price.

That strategy often backfires.

What usually happens to overpriced listings?

• They get less attention online

• They generate fewer showings

• They sit longer

• Buyers begin to wonder what’s wrong with them

• They often end up selling for less after a price reduction

The first couple of weeks on market still matter a lot.

If you want strong interest, your home needs to look like good value compared to what else buyers are seeing.

That’s especially true in Richmond’s detached market right now.

Richmond Detached Homes: Still the Most Challenging Segment

Detached homes remain the softest part of the Richmond market.

March 2026 Detached Stats:

• Active Listings: 585

• Sales: 52

• Average Days on Market: 45

• Benchmark Price: $1,995,000

• Year-over-Year Price Change: -8.0%

A sales-to-active ratio of 8.6% tells us buyers still have leverage in this category.

That doesn’t mean detached homes are not selling. They are.

But sellers need to understand that they are often competing in both:

• a price comparison battle

• and a presentation battle

Detached homes that feel “close enough” on price but not compelling on value can lose momentum quickly.

Townhomes and Condos Are Holding Up Better

While detached homes remain softer, townhomes and condos are showing better balance.

March 2026 Townhome Stats:

• Active Listings: 330

• Sales: 49

• Average Days on Market: 42

• Benchmark Price: $1,035,000

• Year-over-Year Price Change: -6.5%

March 2026 Condo Stats:

• Active Listings: 895

• Sales: 106

• Average Days on Market: 38

• Benchmark Price: $671,500

• Year-over-Year Price Change: -7.5%

This is important for both sellers and move-up buyers.

In some cases, the gap between strata values and detached values has shifted enough to create better move-up opportunities than we saw in 2024 or 2025.

If you’ve been thinking about selling a condo or townhome and moving into a detached property, this may be a window worth looking at.

Steveston Real Estate Update

Steveston continues to be one of Richmond’s most desirable areas, and long term, that hasn’t changed.

That said, even strong neighborhoods are still adjusting to the broader market.

Detached homes in Steveston Village and Steveston South have generally seen values ease over the past year, in line with the wider detached market.

Where are buyers still competing?

Well-located homes in strong school catchments, especially:

• updated townhomes

• family-friendly layouts

• move-in ready homes

• homes in established neighbourhoods

These are still attracting solid attention when priced correctly.

That’s one of the clearest patterns in today’s market:

Buyers are still paying for quality.

Terra Nova and West Richmond Market Trends

Higher-end neighborhoods like Terra Nova are still holding up relatively well compared to some other detached areas.

Detached benchmark values in Terra Nova are hovering around $2,280,000, which is down from peak levels, but generally showing a smaller correction than some other Richmond sub-areas.

That said, luxury buyers are especially sensitive to:

• pricing

• time on market

• stale listings

• competing inventory

In upper price brackets, overpricing can cost sellers momentum quickly.

This is a market where accurate positioning matters more than wishful pricing.

Ladner and Tsawwassen Real Estate Update

South Delta remains an attractive option for buyers looking for more space and value.

Why buyers are looking more closely at Ladner and Tsawwassen:

• More home for the money

• Family-friendly neighborhoods

• Better lot value in many cases

• Strong appeal for move-up buyers and young families

Ladner, in particular, continues to appeal to buyers who may feel priced out of Richmond.

For sellers in South Delta, this is still a workable market, but buyers are taking more time and comparing more carefully than they did in the peak years.

What Buyers Should Know Right Now

For buyers, this market is offering something we haven’t seen consistently in a while:

More breathing room.

That means buyers often have more opportunity to:

• include financing subjects

• conduct inspections

• review documents carefully

• negotiate on price or terms

That’s a healthier environment than the highly compressed bidding conditions we saw in previous years.

If you’ve been waiting for a market with more choice and less pressure, this is still a window worth paying attention to.

My Take on the March 2026 Richmond Market

My take is fairly simple:

This is a better market than it looks at first glance.

It is softer than sellers would like, yes.

But it is also more active than the headlines suggest.

Buyers are out there. Homes are selling. The market is moving.

What has changed is that strategy matters more now.

This is not the kind of market where average marketing and loose pricing decisions get bailed out by momentum.

The homes that win are the ones that are:

• priced right

• marketed well

• positioned clearly

• and matched to the right buyer pool

That’s where local knowledge still makes a real difference.

Thinking About Selling in Richmond or Greater Vancouver?

If you’re wondering what your home might realistically sell for in today’s market, I’d be happy to help.

I work with homeowners throughout:

• Richmond

• Steveston

• Ladner

• Tsawwassen

• Greater Vancouver

and I can help you understand:

• where your home fits in today’s market

• what buyers are likely to compare it against

• and what strategy makes the most sense if you’re planning a move

Get a Home Value Review

If you’d like a clear, honest opinion on your home’s likely market value and how to position it properly, reach out anytime.

GET YOUR HOME VALUE REVIEW HERE