Richmond Hill Real Estate Statistics

Richmond Hill Real Estate Price Trend
Richmond Hill real estate average sold price in the last 30 days (February 17 - March 17) was $1,376,881, which is $96,296 (7.0%) higher than the average price of $1,280,585 in the previous 30 day period (January 18 - February 16), and $48,271 (3.5%) down from the same period 1 year ago ($1,425,152). Richmond Hill real estate prices over the last 30 days are also $5,240 (0.4%) higher than the average selling price of $1,371,641 over the past year.
Richmond Hill average sold price for homes was $1,833,401 in the last 30 days (February 17 - March 17), which is $36,404 (2.0%) up from the average home price of $1,796,997 in the previous 30 day period (January 18 - February 16), and $47,088 (2.6%) higher than the same period 1 year ago ($1,786,313). In the last 30 days Richmond Hill the average home price was $26,382 (1.4%) higher than the average selling price of $1,807,019 over the last 12 months.
Average Richmond Hill condo sold price over the last 30 days (February 17 - March 17) was $665,628. During this period it was $1,832 (0.3%) down from the average price of condo of $667,460 during the previous 30 days (January 18 - February 16), and $12,557 (1.9%) lower compared to the same period 1 year ago ($678,185). In the last 30 days Richmond Hill the average condo price was $13,174 (2.0%) lower than the average selling price of $678,802 over the last year.
Average sold price of Richmond Hill townhouse was $1,219,580 in the last 30 days (February 17 - March 17), up $58,822 (4.8%) from the average townhome price of $1,160,758 over the previous 30 days (January 18 - February 16), and $5,721 (0.5%) lower than during to the same period 1 year ago ($1,225,301). Over the last 30 days the average townhouse price in Richmond Hill was $42,758 (3.5%) higher compared to the average selling price of $1,176,822 over the last 12 months.
Sold Price Above/Below Asking ($)
Average selling price for Richmond Hill real estate was $1,376,881 in the last 30 days (February 17 - March 17), which is collectively $44,455 (2.9%) higher than the average asking price of $1,523,740. This represents an increase of $42,885 (2,731.5%) compared to $1,570 (0.1%) Sold-Over-Asking price from the previous 30 day period (January 18 - February 16).
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
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 49.4% with 209 properties sold and 332 new properties listed in the past 30 days (February 17 - March 17). This represents a decrease from 56.0% recorded during the previous 30 day period (January 18 - February 16), and a decrease from 63.0% 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.
Average Days on Market when Sold vs Delisted
The Average Days on the Market (DOM) for 209 properties that were successfully sold in Richmond Hill in the last 30 days (February 17 - March 17) was 20 days, which is 5 days less than 25 days average in the previous 30 day period (January 18 - February 16) and 5 days longer than during the same period a year ago (15 days).
There were 179 delisted properties in Richmond Hill, those that got either Expired, Suspended or Terminated over the last 30 days (February 17 - March 17) with an average of 58 days on the market. This is 14 days shorter than the average of 72 days during the previous 30 day period (January 18 - February 16) and 8 days more compared to the same period last year average of 50 days on the market.
179 Richmond Hill properties that didn't sell stayed on the market 190.0% longer than 209 that sucessfully sold over the last 30 days - 20 days when sold vs 58 days when delisted respectively.
Average Days on the Market in Richmond Hill over the past 12 months for properties that have sold was 20.4 days, with 47.2 days for those properties that did not sell.
New Real Estate Listings vs Sold/Delisted
423 new properties were listed on the market in Richmond Hill in the last 30 days (February 17 - March 17). During the same time 209 properties were sold and 179 listings were removed from the market (Expired, Suspended or Terminated), which represents an increase in total inventory by 35 properties (or 8.3%).
During the previous 30 day period (January 18 - February 16) there were 332 new properties listed, 186 sold and 167 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 379 new listings per month.
New Real Estate Listings by Property Type
There were a total of 231 homes listed during the last 30 days (February 17 - March 17), which is 54.6% of all properties listed in Richmond Hill. This is a 39.2% increase compared with a previous 30 day period (January 18 - February 16) and 31.2% up from the same period a year ago. Over the past year an average of 207 homes are were listed per month.
101 condo units were listed in the last 30 days (February 17 - March 17) in Richmond Hill, which represents 23.9% of all new listings. This is up 29.5% from the prior 30 day period (January 18 - February 16) and 36.5% more compared to the same period last year. There were 92 condos listed per month on average during the last 12 months.
91 townhomes were listed over the last 30 days (February 17 - March 17) in Richmond Hill, which is 21.5% of all new real estate inventory. This is a 3.4% more than during the previous 30 day period (January 18 - February 16) and 71.7% increase compared to the same period a year ago. During the last year the average number of townhomes listed stood at 80 a month.
Real Estate Sales by Property Type
There were a total of 105 homes sold during the last 30 days (February 17 - March 17), which is 50.2% of all properties sold in Richmond Hill. This is a 31.2% increase compared with a previous 30 day period (January 18 - February 16) and 3.7% down from the same period a year ago. Over the past year an average of 109 homes are were sold per month.
57 condo units were sold in the last 30 days (February 17 - March 17) in Richmond Hill, which represents 27.3% of all sold properties. This is down 1.7% from the prior 30 day period (January 18 - February 16) and 35.7% more compared to the same period last year. There were 55 condos sold per month on average during the last 12 months.
47 townhomes were sold over the last 30 days (February 17 - March 17) in Richmond Hill, which is 22.5% of all sold real estate. This is a 2.1% less than during the previous 30 day period (January 18 - February 16) and 17.5% increase compared to the same period a year ago. During the last year the average number of townhomes sold stood at 45 a month.
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