Richmond Hill Residential Resale Market Statistics Q1 2014

Richmond Hill Treb Map

According to the Toronto Real Estate Board, in the 1st quarter for 2014, Richmond Hill record a total 721 residential sales, with an average price of $755,352. The average sale price to listing price ratio was 100%. The average time it takes to sell a property was 21 days.

How does these results compare to Q1 2013?

The average price increase 9.39% in Q1 2014, compare to Q1 2013.

 

Sales

Average Price

Average % Sale/ Listing  Price

Average Days on Market

Q1 2013

684

$690,501

97%

29

Q1 2014

721

$755,352

100%

21

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

There were 83 sales in the Jefferson neighborhood in the 1st Quarter of 2014.

Which Richmond Hill neighborhood is the most expensive?

According to Toronto Real Estate Board Richmond Hill Community Report, Rural Richmond Hill” area had the highest average price among the 6 sales that occurred in Q1 2014, at $2,119,333. The most expensive Richmond Hill subdivision is Bayview Hill, with an average sale price of $1,568,979 in Q1 2014.

Jefferson Market Statistics Q1 2014

 

Which neighborhood was fastest selling?

The Rouge Woods and Westbrook neighborhood recorded an average Days-on-Market of 14 days, the lowest among all neighborhoods in Richmond Hill.

Westbrook Market Statistics Q1 2014

 

Which Richmond Hill neighborhood’s prices increased the most over the past year?

Rouge Woods. In Q1 2014 the average sale price is $879,228 while the average sales prices recorded in Q1 2013 was $711,322, a 23.60% increase! The Harding neighborhood and the Doncrest neighborhood came close at 22.75% and 21.36% price increase over the past year.

Rouge Woods Market Statistics Q1 2014

Rouge Woods Q1 2013 vs Q1 2014 TREB Market Statistics

 

Sales

Average Price

Average % Sale/ Listing  Price

Average Days on Market

Q1 2013

68

$711,322

98%

21

Q1 2014

71

$879,228

107%

14

The above are part of the MLS data published by the Toronto Real Estate Board which I think would be interesting for Richmond Hill residents and homebuyers who is interested in Richmond Hill. 

If you want to know in detail how your neighborhood market is performing and have real estate questions about any Markham neighborhood, don’t hesitate to connect with me via the email, phone, or social media!

 

Janis Tsang

Janis Tsang

Sales Representative
CENTURY 21 Atria Realty Inc., Brokerage*
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