Richmond Hill Real Estate Statistics

Richmond Hill real estate average sold price in the last 30 days (March 27 - April 25) was $1,439,494, which is $105,153 (7.3%) higher than the average price of $1,334,341 in the previous 30 day period (February 26 - March 26), and $49,066 (3.4%) up from the same period 1 year ago ($1,390,428). Richmond Hill real estate prices over the last 30 days are also $70,603 (4.9%) higher than the average selling price of $1,368,891 over the past year.

Richmond Hill average sold price for homes was $1,894,094 in the last 30 days (March 27 - April 25), which is $183,953 (9.7%) up from the average home price of $1,710,141 in the previous 30 day period (February 26 - March 26), and $78,008 (4.1%) higher than the same period 1 year ago ($1,816,086). In the last 30 days Richmond Hill the average home price was $93,047 (4.9%) higher than the average selling price of $1,801,047 over the last 12 months.

Average Richmond Hill condo sold price over the last 30 days (March 27 - April 25) was $680,939. During this period it was $24,671 (3.6%) up from the average price of condo of $656,268 during the previous 30 days (February 26 - March 26), and $6,228 (0.9%) lower compared to the same period 1 year ago ($687,167). In the last 30 days Richmond Hill the average condo price was $3,615 (0.5%) higher than the average selling price of $677,324 over the last year.

Average sold price of Richmond Hill townhouse was $1,162,769 in the last 30 days (March 27 - April 25), down $72,960 (6.3%) from the average townhome price of $1,235,729 over the previous 30 days (February 26 - March 26), and $69,289 (6.0%) lower than during to the same period 1 year ago ($1,232,058). Over the last 30 days the average townhouse price in Richmond Hill was $16,890 (1.5%) lower compared to the average selling price of $1,179,659 over the last 12 months.

Average selling price for Richmond Hill real estate was $1,439,494 in the last 30 days (March 27 - April 25), which is collectively $52,887 (3.6%) higher than the average asking price of $1,450,879. This represents an increase of $7,689 (17.0%) compared to $45,198 (2.9%) Sold-Over-Asking price from the previous 30 day period (February 26 - March 26).

The maximum Sold Over/Under Asking ratio in Richmond Hill during the last 12 months was recorded in May, 2023 with an average of $102,866 over the asking price, while the minimum occurring in December, 2023 with $44,887 below the asking price.

Sales to New Listings Ratio (SNLR) represents the number of sales in relation to new inventory listed over a period of time. SNLR for all property types in Richmond Hill was 47.6% with 263 properties sold and 446 new properties listed in the past 30 days (March 27 - April 25). This represents a decrease from 51.3% recorded during the previous 30 day period (February 26 - March 26), and a decrease from 77.3% compared to the same period one year ago.

Over the the last year the highest SNLR in Richmond Hill was 103.7% recorded in December and the lowest was in October at 35.8%. SNLR of under 40% generally represents the Buyers' Market, while 60% and above - the Sellers' Market, with 40% to 60% range signaling a balanced market.

The Average Days on the Market (DOM) for 263 properties that were successfully sold in Richmond Hill in the last 30 days (March 27 - April 25) was 19 days, which is 2 days less than 21 days average in the previous 30 day period (February 26 - March 26) and 3 days longer than during the same period a year ago (16 days).

There were 306 delisted properties in Richmond Hill, those that got either Expired, Suspended or Terminated over the last 30 days (March 27 - April 25) with an average of 50 days on the market. This is 2 days shorter than the average of 52 days during the previous 30 day period (February 26 - March 26) and 2 days more compared to the same period last year average of 48 days on the market.

306 Richmond Hill properties that didn't sell stayed on the market 163.2% longer than 263 that sucessfully sold over the last 30 days - 19 days when sold vs 50 days when delisted respectively.

Average Days on the Market in Richmond Hill over the past 12 months for properties that have sold was 20.8 days, with 47.3 days for those properties that did not sell.

553 new properties were listed on the market in Richmond Hill in the last 30 days (March 27 - April 25). During the same time 263 properties were sold and 306 listings were removed from the market (Expired, Suspended or Terminated), which represents a decrease in total inventory by 16 properties (or 2.9%).

During the previous 30 day period (February 26 - March 26) there were 446 new properties listed, 229 sold and 195 properties that did not sell and were removed from the market.

Over the past year the busiest month for new listings was June with 539 new properties listed, the slowest - December with 108 new listings and a yearly average of 389 new listings per month.

There were a total of 295 homes listed during the last 30 days (March 27 - April 25), which is 53.3% of all properties listed in Richmond Hill. This is a 18.0% increase compared with a previous 30 day period (February 26 - March 26) and 52.8% up from the same period a year ago. Over the past year an average of 212 homes are were listed per month.

134 condo units were listed in the last 30 days (March 27 - April 25) in Richmond Hill, which represents 24.2% of all new listings. This is up 31.4% from the prior 30 day period (February 26 - March 26) and 71.8% more compared to the same period last year. There were 95 condos listed per month on average during the last 12 months.

124 townhomes were listed over the last 30 days (March 27 - April 25) in Richmond Hill, which is 22.4% of all new real estate inventory. This is a 31.9% more than during the previous 30 day period (February 26 - March 26) and 53.1% increase compared to the same period a year ago. During the last year the average number of townhomes listed stood at 82 a month.

There were a total of 143 homes sold during the last 30 days (March 27 - April 25), which is 54.4% of all properties sold in Richmond Hill. This is a 23.3% increase compared with a previous 30 day period (February 26 - March 26) and 2.1% up from the same period a year ago. Over the past year an average of 109 homes are were sold per month.

66 condo units were sold in the last 30 days (March 27 - April 25) in Richmond Hill, which represents 25.1% of all sold properties. This is up 17.9% from the prior 30 day period (February 26 - March 26) and 7.0% less compared to the same period last year. There were 55 condos sold per month on average during the last 12 months.

54 townhomes were sold over the last 30 days (March 27 - April 25) in Richmond Hill, which is 20.5% of all sold real estate. This is a 5.3% less than during the previous 30 day period (February 26 - March 26) and 11.5% decrease compared to the same period a year ago. During the last year the average number of townhomes sold stood at 45 a month.