Richmond Hill Housing Market Update For January 2014 And Current Market Trends

Just an update for the housing market in Richmond Hill for January 2014 . Richmond Hill reported 146 homes sold in January 2014 totaling $110,844,287 , the average selling price was $759,207 and Average Days on Market 31 days compared to January 2013 when 182 homes sold totaling $124,324,586 at an average price of $683,102 and average day on market 41 days.

Because the supply of houses for sale in 2014 was lower than in 2013 by about 20%, the average selling price increased by about 11% .

The market is still hot with mortgage rates very low and lots of buyers willing to take advantage of this low rates . For the ones contemplating on making a move, it is the right time to sell your house now, as analysts predict a cooling down of the market towards 2015 because of slowing economy in Canada compared to the US, lower housing starts and building permits, a trade deficit that has grown to 9 times the forecast and hiring slowed down in December as well .

Please contact me if you would like to discuss any real estate matters including your home current value. I would be more than happy to present you my customized marketing plan for your house together with a Highest Price Analysis with no obligation for you .

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Lavinia Serbanescu

Lavinia Serbanescu

Sales Representative
CENTURY 21 Heritage Group Ltd., Brokerage*
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