So, the numbers are out, so lets take a look at whats been happening in our home town of Richmond BC

For single family homes, youre looking at a benchmark price of 2.15 million dollars which represents an 1.7 increase since last year. Of all types of properties, only single family homes saw an increase from 2024.

Overall we're seeing a balanced market at 12% selling ratio with an increase of inventory since the start of January.

And we're seeing a better life in the market for listings as days on market went from 2 months to a month and a half

Hottest area for single family homes? The Ironwood area. For the last few months, the Ironwood area and McNair was part of our buyer watch. For January, the busiest neighbourhood in Richmond along with Riverdale shwing a very strong 45% sales ratio

And if you're looking to buy, your best look is the Brodmoor and Woodwards are and the 57 properties they have on the market

For condos and townhomes, as I mentioned, down a mere % since 2024.

Overall ,its at a high balance market at 18%

If you have a condo that has that range from 400 to 600k, you're looking at an even strong market at a 30% selling ratio

Most popular neighbourhood? South arm and Steveston Village, showing a 40 and 50% selling ratio respectively

And...for a buyers watch? There isn't really an area that stands out, which could be a good indication of what I may look like in the spring market.

Hope this information helps
Cheers