Richmond Hill Real Estate Statistics

Richmond Hill Real Estate Price Trend
Richmond Hill real estate average sold price in the last 30 days (June 16 - July 15) was $1,418,315, which is $40,971 (2.9%) lower than the average price of $1,459,286 in the previous 30 day period (May 17 - June 15), and $114,969 (8.1%) up from the same period 1 year ago ($1,303,346). Richmond Hill real estate prices over the last 30 days are also $37,169 (2.6%) higher than the average selling price of $1,381,146 over the past year.
Richmond Hill average sold price for homes was $1,912,184 in the last 30 days (June 16 - July 15), which is $930 (0.0%) up from the average home price of $1,911,254 in the previous 30 day period (May 17 - June 15), and $297,542 (15.6%) higher than the same period 1 year ago ($1,614,642). In the last 30 days Richmond Hill the average home price was $93,151 (4.9%) higher than the average selling price of $1,819,033 over the last 12 months.
Average Richmond Hill condo sold price over the last 30 days (June 16 - July 15) was $673,675. During this period it was $20,451 (3.0%) up from the average price of condo of $653,224 during the previous 30 days (May 17 - June 15), and $8,510 (1.3%) lower compared to the same period 1 year ago ($682,185). In the last 30 days Richmond Hill the average condo price was $2,499 (0.4%) higher than the average selling price of $671,176 over the last year.
Average sold price of Richmond Hill townhouse was $1,130,997 in the last 30 days (June 16 - July 15), down $81,078 (7.2%) from the average townhome price of $1,212,075 over the previous 30 days (May 17 - June 15), and $15,150 (1.3%) lower than during to the same period 1 year ago ($1,146,147). Over the last 30 days the average townhouse price in Richmond Hill was $33,796 (3.0%) lower compared to the average selling price of $1,164,793 over the last 12 months.
Sold Price Above/Below Asking ($)
Average selling price for Richmond Hill real estate was $1,418,315 in the last 30 days (June 16 - July 15), which is collectively $15,372 (1.0%) higher than the average asking price of $1,512,346. This represents a decline of $16,629 (52.0%) compared to $32,001 (2.1%) Sold-Over-Asking price from the previous 30 day period (May 17 - June 15).
The maximum Sold Over/Under Asking ratio in Richmond Hill during the last 12 months was recorded in March, 2024 with an average of $47,999 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 32.7% with 162 properties sold and 594 new properties listed in the past 30 days (June 16 - July 15). This represents an increase from 29.6% recorded during the previous 30 day period (May 17 - June 15), and a decrease from 68.5% 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 June at 32.1%. 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 162 properties that were successfully sold in Richmond Hill in the last 30 days (June 16 - July 15) was 22 days, which is 0 days more than 22 days average in the previous 30 day period (May 17 - June 15) and 8 days longer than during the same period a year ago (14 days).
There were 380 delisted properties in Richmond Hill, those that got either Expired, Suspended or Terminated over the last 30 days (June 16 - July 15) with an average of 46 days on the market. This is 5 days shorter than the average of 51 days during the previous 30 day period (May 17 - June 15) and 10 days more compared to the same period last year average of 36 days on the market.
380 Richmond Hill properties that didn't sell stayed on the market 109.1% longer than 162 that sucessfully sold over the last 30 days - 22 days when sold vs 46 days when delisted respectively.
Average Days on the Market in Richmond Hill over the past 12 months for properties that have sold was 22.2 days, with 51.0 days for those properties that did not sell.
New Real Estate Listings vs Sold/Delisted
495 new properties were listed on the market in Richmond Hill in the last 30 days (June 16 - July 15). During the same time 162 properties were sold and 380 listings were removed from the market (Expired, Suspended or Terminated), which represents a decrease in total inventory by 47 properties (or 9.5%).
During the previous 30 day period (May 17 - June 15) there were 594 new properties listed, 176 sold and 337 properties that did not sell and were removed from the market.
Over the past year the busiest month for new listings was April with 569 new properties listed, the slowest - December with 108 new listings and a yearly average of 414 new listings per month.
New Real Estate Listings by Property Type
There were a total of 264 homes listed during the last 30 days (June 16 - July 15), which is 53.3% of all properties listed in Richmond Hill. This is a 20.2% decline compared with a previous 30 day period (May 17 - June 15) and 5.4% down from the same period a year ago. Over the past year an average of 222 homes are were listed per month.
116 condo units were listed in the last 30 days (June 16 - July 15) in Richmond Hill, which represents 23.4% of all new listings. This is down 12.1% from the prior 30 day period (May 17 - June 15) and 6.5% less compared to the same period last year. There were 102 condos listed per month on average during the last 12 months.
115 townhomes were listed over the last 30 days (June 16 - July 15) in Richmond Hill, which is 23.2% of all new real estate inventory. This is a 12.2% less than during the previous 30 day period (May 17 - June 15) and 19.8% increase compared to the same period a year ago. During the last year the average number of townhomes listed stood at 90 a month.
Real Estate Sales by Property Type
There were a total of 83 homes sold during the last 30 days (June 16 - July 15), which is 51.2% of all properties sold in Richmond Hill. This is a 12.6% decline compared with a previous 30 day period (May 17 - June 15) and 56.8% down from the same period a year ago. Over the past year an average of 102 homes are were sold per month.
40 condo units were sold in the last 30 days (June 16 - July 15) in Richmond Hill, which represents 24.7% of all sold properties. This is down 2.4% from the prior 30 day period (May 17 - June 15) and 48.7% less compared to the same period last year. There were 49 condos sold per month on average during the last 12 months.
39 townhomes were sold over the last 30 days (June 16 - July 15) in Richmond Hill, which is 24.1% of all sold real estate. This is a 2.5% less than during the previous 30 day period (May 17 - June 15) and 45.8% decrease compared to the same period a year ago. During the last year the average number of townhomes sold stood at 42 a month.
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