Richmond Hill Residential Market Statistics Q2 2016

According to the Toronto Real Estate Board, in the 2nd Quarter of 2016, Richmond Hill record a total 1482 residential sales, with an average price of $1,102,547. The average sale price to listing price ratio was 102%. The average time it takes to sell a property was 16 days.

How does these results compare to Q2 2015?

The average price has gone up 22% from Q2 2015 to Q2 2016.

 

Sales

Average Price

Average % Sale/ Listing  Price

Average Days on Market

Q2 2015

1316

$900,191

102%

16

Q2 2016

1482

$1,102,547

106%

14

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

The Oak Ridges community report the most transactions in Q2 2016 (119 transactions) among the communities in Richmond Hill. Oak Ridges is in the Northwestern corner in Richmond Hill South of Bloomington and East of Bathurst with mostly subdivision home.

Which community was fastest selling?

With an average days on market of just 8 days (ie. It takes on average of 8 days to sell), Rouge Woods and Devonsleigh are the fastest selling communities in Richmond Hill.

Which community is the most affordable in Richmond Hill?

The “Beaver Creek Business Park” community report the lowest average home price in Richmond Hill. This convenient location at the Northwest corner of Hwy 7 and Hwy 404 consists of mostly businesses and a few condo complexes. The average prices of this community at $332,000.

Which community’s average prices increase the most from last year?

The average price of homes in the Harding community of Richmond Hill increase from $535,634 to $867,638 from Q2 2015 to Q2 2016, which was a 62% increase. The increase in average price is much higher than the Richmond Hill average because there is a higher number of low-rise homes sold in Q2 2016 compare to Q2 2015.

The Devonsleigh community ranked 2nd in Richmond Hill for average prices increase between Q2 2015 and Q2 2016.

Now, let’s look at Richmond Hill average home prices by home type:

 

2016

2015

Home Type

Sales

Average Price

Sales

Average Price

Detached

871

$1,448,338

773

$1,153,308

Semi-Detached

63

$800,159

61

$644,530

Condo Townhouse

47

$596,127

44

$528,480

Condo Apt

247

$366,315

192

$341,601

Link

32

$830,800

28

$709,617

Att/Row/Twnhouse

221

$796,034

212

$652,312

Total

1481

$1,102,579

1312

$898,160

If you are wondering how much is your home in Richmond Hill is worth, or if you are looking to for the perfect home in Richmond Hill: 

Email me your address for a free, no obligations home evaluation report or if you are looking for the perfect home, ask me which community is best for your style and budget!

 

Janis Tsang

Janis Tsang

Sales Representative
CENTURY 21 Atria Realty Inc., Brokerage*
Contact Me

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