Many real estate submarkets in Metro Vancouver may be favouring sellers at the moment, but perhaps none more so than Richmond, according a report published byWith the arrival of the spring market, when activity typically gains steam, Zoocasa used March data from the Real Estate Board of Greater Vancouver to pinpoint whether certain submarkets are currently leaning towards buyers or sellers.
In a buyers’ market, new listings outweigh sales, meaning buyers have more options, whereas in a sellers’ market, demand is stronger than supply, giving sellers a potential advantage. Even with that context, Richmond still stands out from the crowd, as it is the only market in Metro Vancouver that is currently favouring sellers even more so than it was back in March 2022, with the sales-to-new-listings ratio increasing by 10% in that span. Meanwhile, every other market saw their ratio drop.