Richmond-Hill Real Estate Market
In the heart of Richmond Hill, a suburban haven just north of Toronto, the real estate market paints a picture of diversity, growth, and evolving aspirations. Richmond-hill MLS® recent statistics indicate an average house price of $1.8 Million and 277 new listings in the last 28 days. Currently, Richmond-hill housing data shows that the median days on the market for a home is 15 days.
1. Listings on the Market:
The residential landscape in Richmond Hill real estate market stands adorned with 335 homes, each representing a unique retreat from the bustling city life. With 90 townhomes and 133 condos, the market offers a harmonious blend of spaces catering to various lifestyle preferences.
2. Average Listing Price in February
Priced at an average of $2.2 million, these homes stand as more than just physical structures. They embody a sense of luxury and personalized living. Townhomes, with an average listing price of $1.2 million, offer an affordable yet refined alternative. Condos, at an average listing price of $708.6K, showcase the diversity of living options, catering to those seeking a more compact and contemporary lifestyle.
3. Change in Average Listing Price
The 5.86% increase in the average listing price for homes signifies a market responding to demand. A notable 7.91% increase in the average listing price for townhomes suggests a growing appreciation for this segment. The 2.89% change in the average listing price for condos reveals a market adapting to demand, making the vertical lifestyle more accessible to a broader audience.
4. Average SOLD Price in February
Reflecting the transaction reality, the average sold price for homes stands at $2 million, signifying a commitment to the aspirational living offered in Richmond Hill. Maintaining an average sold price of $1.2 million, townhomes provide stability in the market. With an average sold price of $706.1K, condos resonate with buyers seeking a contemporary living experience within a more budget-friendly range.
5. Change in Average SOLD Price
The 9.03% increase in the average sold price for homes suggests a market where buyers are willing to invest. Despite a 0% change in the average sold price, the stability in townhomes indicates a consistent appeal. The 4.73% increase in the average sold price for condos signifies a dynamic market, where value is recognized, and prices adjust to meet demand.
Inventory & SOLD Statistics:
In the last 60 days, 532 new home listings have graced the market.
Of these, 178 homes found new owners, with an average of 16 days on the market—a testament to the desirability and swift transactions in this suburban oasis.
The selling-to-listing price ratio of 101.02%.
Over the last 60 days, 183 new townhome listings have emerged, each promising a unique blend of community living and individuality.
Among these, 74 townhomes found new owners, with an average of 14 days on the market—a narrative of communities being built and lives being enriched.
The selling-to-listing price ratio of 102.28%.
A total of 245 new condo listings emerged in the last 60 days, reflecting the vertical growth and the allure of contemporary living.
Of these, 96 condos changed hands, with an average of 19 days on the market.
The selling-to-listing price ratio of 100.51% is a reminder that in the world of condos, the value isn’t just monetary; it’s experiential, reflecting a balance between price and perceived worth.
