The real estate market in Richmond Hill for all property types has shown a steady increase in average sale prices over the last 12 months. In the most recent month of April 2024, the average price was $1,482,966, which is a 4.71% increase from the previous month and a 4.23% increase from the same month last year. The number of properties sold has also increased, with 221 properties sold in April compared to 199 in March and 182 in February. This indicates a strong demand in the market.

The average days on market has remained relatively stable, with an average of 21 days in April. The sales price to list price ratio has also remained consistent at 103%. The market continues to show a balanced state with a months of inventory of 3.08 in April, indicating a healthy balance between supply and demand. Overall, the data suggests a strong and stable market in Richmond Hill, with favorable conditions for both buyers and sellers.

Read the full article on: Toronto Regional Real Estate Board