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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Condominium Market in Burnaby, BC

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Condominium

We have discussed the  detached property market and the townhouse market in Burnaby. Now we talk about the condominium market. The prices in the tables below are the MLS HPI Benchmark Price.

Burnaby Condominium Market

Burnaby East condominium Market

Burnaby south condominium market

Burnaby North Condominium Market

Like the townhouse market, condominium benchmark prices had a significant price increase in 2016 and 2017. Also, the average price increase over the 7 year period were: Burnaby North 80%, Burnaby South 60% and Burnaby East 77%. The sub-area that saw the greatest price increase was Simon Fraser Hills at 107% ( from $204,000 to $422,200.) 

If you would like to have more detail information regarding Burnaby market, please click here or contact me at awang@macrealty.com 


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Richmond Real Estate Market

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