Richmond Hill Real Estate Statistics

Richmond Hill Real Estate Price Trend
Richmond Hill real estate average sold price in the last 30 days (August 27 - September 25) was $1,277,006, which is $102,440 (8.0 %) lower than the average price of $1,379,446 in the previous 30 day period (July 28 - August 26), and $104,560 (8.2 %) down from the same period 1 year ago ($1,381,566). Richmond Hill real estate prices over the last 30 days are also $192,677 (15.1 %) lower than the average selling price of $1,469,683 over the past year.
Richmond Hill average sold price for homes was $1,694,722 in the last 30 days (August 27 - September 25), which is $42,558 (2.5 %) down from the average home price of $1,737,280 in the previous 30 day period (July 28 - August 26), and $98,940 (5.8 %) lower than the same period 1 year ago ($1,793,662). In the last 30 days Richmond Hill the average home price was $179,500 (10.6 %) lower than the average selling price of $1,874,222 over the last 12 months.
Average Richmond Hill condo sold price over the last 30 days (August 27 - September 25) was $680,119. During this period it was $5,105 (0.8 %) up from the average price of condo of $675,014 during the previous 30 days (July 28 - August 26), and $56,993 (8.4 %) higher compared to the same period 1 year ago ($623,126). In the last 30 days Richmond Hill the average condo price was $17,894 (2.6 %) lower than the average selling price of $698,013 over the last year.
Average sold price of Richmond Hill townhouse was $1,149,672 in the last 30 days (August 27 - September 25), up $9,286 (0.8 %) from the average townhome price of $1,140,386 over the previous 30 days (July 28 - August 26), and $6,899 (0.6 %) lower than during to the same period 1 year ago ($1,156,571). Over the last 30 days the average townhouse price in Richmond Hill was $83,803 (7.3 %) lower compared to the average selling price of $1,233,475 over the last 12 months.
Sold Price Above/Below Asking ($)
Average selling price for Richmond Hill real estate was $1,277,006 in the last 30 days (August 27 - September 25), which is collectively $11,509 (0.7 %) lower than the average asking price of $1,603,969. This represents an increase of $4,817 (29.5 %) compared to $16,326 (1.2 %) Sold-Under-Asking price from the previous 30 day period (July 28 - August 26).
The maximum Sold Over/Under Asking ratio in Richmond Hill during the last 12 months was recorded in February, 2022 with an average of $225,696 over the asking price, while the minimum occurring in July, 2022 with $16,916 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 56.3 % with 152 properties sold and 327 new properties listed in the past 30 days (August 27 - September 25). This represents an increase from 55.4 % recorded during the previous 30 day period (July 28 - August 26), and a decrease from 73.9 % compared to the same period one year ago.
Over the the last year the highest SNLR in Richmond Hill was 138.3 % recorded in December and the lowest was in May at 38.5 %. 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 152 properties that were successfully sold in Richmond Hill in the last 30 days (August 27 - September 25) was 19 days, which is 4 days less than 23 days average in the previous 30 day period (July 28 - August 26) and 1 days longer than during the same period a year ago (18 days).
There were 180 delisted properties in Richmond Hill, those that got either Expired, Suspended or Terminated over the last 30 days (August 27 - September 25) with an average of 61 days on the market. This is 10 days longer than the average of 51 days during the previous 30 day period (July 28 - August 26) and 7 days more compared to the same period last year average of 54 days on the market.
180 Richmond Hill properties that didn't sell stayed on the market 221.1 % longer than 152 that sucessfully sold over the last 30 days - 19 days when sold vs 61 days when delisted respectively.
Average Days on the Market in Richmond Hill over the past 12 months for properties that have sold was 14.8 days, with 39.5 days for those properties that did not sell.
New Real Estate Listings vs Sold/Delisted
270 new properties were listed on the market in Richmond Hill in the last 30 days (August 27 - September 25). During the same time 152 properties were sold and 180 listings were removed from the market (Expired, Suspended or Terminated), which represents a decrease in total inventory by 62 properties (or 23.0 %).
During the previous 30 day period (July 28 - August 26) there were 327 new properties listed, 181 sold and 238 properties that did not sell and were removed from the market.
Over the past year the busiest month for new listings was March with 638 new properties listed, the slowest - December with 167 new listings and a yearly average of 420 new listings per month.
New Real Estate Listings by Property Type
There were a total of 154 homes listed during the last 30 days (August 27 - September 25), which is 57.0 % of all properties listed in Richmond Hill. This is a 0.0 % decline compared with a previous 30 day period (July 28 - August 26) and 46.2 % down from the same period a year ago. Over the past year an average of 251 homes are were listed per month.
70 condo units were listed in the last 30 days (August 27 - September 25) in Richmond Hill, which represents 25.9 % of all new listings. This is down 43.1 % from the prior 30 day period (July 28 - August 26) and 22.2 % less compared to the same period last year. There were 95 condos listed per month on average during the last 12 months.
46 townhomes were listed over the last 30 days (August 27 - September 25) in Richmond Hill, which is 17.0 % of all new real estate inventory. This is a 8.0 % less than during the previous 30 day period (July 28 - August 26) and 42.5 % decrease compared to the same period a year ago. During the last year the average number of townhomes listed stood at 75 a month.
Real Estate Sales by Property Type
There were a total of 76 homes sold during the last 30 days (August 27 - September 25), which is 50.0 % of all properties sold in Richmond Hill. This is a 23.2 % decline compared with a previous 30 day period (July 28 - August 26) and 59.1 % down from the same period a year ago. Over the past year an average of 149 homes are were sold per month.
47 condo units were sold in the last 30 days (August 27 - September 25) in Richmond Hill, which represents 30.9 % of all sold properties. This is up 38.2 % from the prior 30 day period (July 28 - August 26) and 41.2 % less compared to the same period last year. There were 63 condos sold per month on average during the last 12 months.
29 townhomes were sold over the last 30 days (August 27 - September 25) in Richmond Hill, which is 19.1 % of all sold real estate. This is a 39.6 % less than during the previous 30 day period (July 28 - August 26) and 59.2 % decrease compared to the same period a year ago. During the last year the average number of townhomes sold stood at 50 a month.
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