Richmond Hill Houses 2016 2nd Quarter Report 

Including: Richmond Hill, Oak Ridges, Jefferson, Westbrook, Mill Pond, North & South Richvale,

Lake Wilcox, Devonsleigh, Crosby, Harding, Observatory, Langstaff,

Rural, Rouge Woods, Bayview Hill and Doncrest

Richmond Hill Real Estate 2016  2015 Difference
House Sales 1,482  1,136 + 30%
Homes Average Price $1,142,507  $900,191 + 27%
New Listings 2,231  2,220 - 0%
Active Listings 500  659 - 24%
% of Final Sales Price to Listing Price 106%  102% + 4%
Days on Market 14  16 - 12%

 

 SalesAverage Price DetachedNew ListingsActive ListingsDays on Market% Sold Price vs. Listing Price
Oak Ridges165$1,073,6092214310103%
Jefferson135$1,188,3642103610107%
Westbrook125$1,174,6091903411106%
Mill Pond77$1,185,4931192312108%
North Richvale110 $973,866 17041 14 103%
South Richvale 62 $1,903,14912443 26  102% 
Lake Wilcox133 $1,123,145 16528 12 103%
Devonsleigh 46 $1,081,2889320 8 108%
Crosby 109 $936,568 15132 12  113% 
Harding 91 $867,638 12228 14  110% 
Observatory41$788,358 66 14 15 104%
Langstaff133$707,124 21562 19  106% 
Rural13$2,283,692 14 7 50 94%
Rouge Woods108$1,190,789 152 18 8  109% 
Bayview Hill39$2,562,167 77 159 110%
Doncrest68$874,061 111 49 18 106%

 richmond hill ontario real estate

 

Richmond Hill continues to be one of the hottest towns in Greater Toronto. Quarter after quarter we have sales and prices rise. There was no change in this in the 1st quarter of 2015. Sales were up 9% over the same period last year to 786. This did not slow down the prices as they rose 8% to over $815,000. Inventory will continue to be tough in this area as we have such a high demand of buyers for the Richmond Hill area. We saw over 1,300 new listings enter the market but when the quarter had ended there were slightly over 500 left. Homes in Richmond Hill are selling with 3 weeks and are usually selling over asking price as the average was 101% of asking.

Many have waited to see a slow down in Richmond Hill but this has not happened and we see no evidence of the market changing at this time. Sellers, if you are thinking of putting your house on the market now is the time. Buyers, it is a tougher market for you in Richmond Hill but due to the variety of neighbourhoods and property types you are able what you are looking for. One interesting number that I found is that the luxury market in Richmond Hill is moving well where we have seen a bit of a slowdown to the south.

 

 

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