Richmond Hill Market Statistics Q3 2014

According to the Toronto Real Estate Board, in the 3rd quarter for 2014, Richmond Hill record a total 935 residential sales, with an average price of $$752,635. The average sale price to listing price ratio was 99%. The average time it takes to sell a property was 24 days.

How does these results compare to Q3 2013?

The average price increase 4.3% compare to Q3 2013.

Sales Average Price Average % Sale/ Listing Price Average Days on Market
Q3 2013 855 $721,601 97% 28
Q3 2014 935 $752,635 99% 24

Which neighborhood has the strongest sales? (The largest number of transactions)

Oak Ridges. There were a total of 98 transactions in Oak Ridges in Q3, 2014, mostly in detached homes. The average price of detached homes in the Oak Ridge area is $901,000 in Q3 2014, increased 17.9% from Q3 2013.  

Which Richmond Hill community is the most expensive?

Bayview Hill. Bayview Hill recorded 18 transactions over Q3, 2014 with an average price of $1,657,967. The number of transactions was down from 29 recorded in Q3, 2013; the average price was up 6% from $1,564,521 of Q3 2013.

Which community was fastest selling?

The Rouge Woods subdivision recorded an average Days-on-Market of 12 days in Q3 2014, the lowest among all communities in Richmond Hill. The average price was $801,508 for the 85 transactions recorded during the quarter. The Rouge Woods community was also the fastest selling in the first half of 2014.

Which Richmond Hill community’s prices increased the most compare to Q3 last year?

The Mill Pond community, located between Yonge and Bathurst, Major Mackenzie and Richmond Hill had an average price increase of 22.5% from $732,389 in Q3 2013 to $897,513 in Q3 2014. The number of transactions rose from 36 in total in Q3 2013 to 56 in total in Q3 2014. The majority of these transactions are for detached homes and if we look at detached homes only, the average price rose 17.1% from approximately $811,000 in 2013 to $950,000 in 2014. Is this an emerging trend for this neighborhood consists mostly of detached homes 40-60 years old? Please contact me if you are interested in exploring the real estate market trends of the Mill Pond community.

If you want to know in detail how your neighborhood market is performing don’t hesitate to connect with me via email, phone, or social media!

Janis Tsang

Janis Tsang

Sales Representative
CENTURY 21 Atria Realty Inc., Brokerage*
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