Canada’s national median home listing price this month is $290,900, which means that Richmond Hill is in the top 20% for Canada.
The median house price listed in Richmond Hill this month is $1,196,388.
When it comes to the size of the properties currently available to property investors in this neighbourhood, they tend to have fewer bedrooms than the most commonly available across the nation.
There are 1145 neighbourhoods that have more properties on sale than Richmond Hill at the moment in Ontario which puts the neighbourhood in the top 20% when looking at the number of properties to choose from.
Is Richmond Hill a good investment prospect? It’s never a perfect science, but the data we have given us a number of indicators.
It’s always hard to tell what property prices will do over the coming months, but over the last three months the properties available for purchase in Richmond Hill have dried up which would tend to indicate that demand is higher than the supply of new properties.
With a median listing price of $363,900, Richmond Hill is Canada’s 106th most expensive when ordered by median listing price.
In Aug the median listed house price of $363,900 in Richmond Hill was an impressive compared to the rest of Ontario.
Richmond Hill’s most common listing this month is 2 bedroom properties, less than province’s most common offering of 1 bedrooms.
Across Ontario Richmond Hill has the 7th most properties on offer with 196.
Will prices rise across the next year in in Richmond Hill? There are a number of real estate indicators to consider.
One of the important leading indicators for property investors is whether the amount of stock on the market is increasing or decreasing – as more comes on buyers have more choice so prices can tend to drop. In Richmond Hill, the amount of stock on the market has decreased which is a positive indicator for house prices. Three months ago there were 253, this month we show 177.