Up Up Up: Luxury Real Estate in Richmond, BC

It's costing more and more to buy luxury real estate in Richmond, BC. Since January 1, 2010 159 detached properties have sold in Richmond and of these 48 sold for more than a million dollars. Luxury real estate is defined as the top ten per cent of the market. If you wanted to be a member of this elite category of homes today, your house must be priced for a minimum of $1.46 million. This is up from the $1.228 million qualifying level based on all 2009 sales...and again up from sales reported from December 1, 2009 to January 20, 2010 which had the entry point at $1.28 million. Of the top 16 sales in Richmond, 3 were over $1.8 million, 6 were over $1.7 million, 14 were over $1.6 million and 16 were over $1.46 million.

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