Richmond Hill Property Sales Overview
The median property value in Richmond Hill for December is $270,409.
Houses have increased by 0.75% for the month and decreased 0% for the year.
Rental demand is up with yields the same in February to 6.76%, from 6.76% in January.
The number of properties sold this quarter is down on last quarter from 17 to 3. This is down on the 5 year quarterly average of 32 indicating weaker demand.
What's the median House price in Richmond Hill in December 2021?
The median property value for houses in Richmond Hill is $270,409.
This is an increase of 0.75% ($268,387) from last month.
How much does it cost to rent a House in Richmond Hill?
Rent prices in Richmond Hill are the highest they've been in 12 months at $354.
This is up 12.03% from a 12 month low of $316 in February 2021 and a 1.72% up from last month.
What's the current rental yield in Richmond Hill?
Rental yields for houses in Richmond Hill is 6.76%.
This is up from a 12 month low of 6.37% in January 2021 and the same from a 12 month high of 6.76% in December 2021.
How many properties sold in Richmond Hill in February?
Total sales volume in Richmond Hill is 3, which is down from 17 in the previous quarter.
This is 0% stronger than the weakest quarter in the last 5 years which was Q2 2018 with 0 sales and -83.33% weaker than the strongest quarter in the past 5 years which saw 18 sales in Q2 2021.
How long did it take to sell a property in Richmond Hill in February?
47 days is the average time on market in Richmond Hill in December, which is down from 49 in November and has been trending down since December 2020.
This can indicate a buyers market where sellers are finding it harder to make a sale.
Are properties selling below or above the listing price in Richmond Hill?
December sees the vendor expectation error for Richmond Hill at -0.7% which means, on average, places sold for -0.7% less than the listing price.
This is a great sign for buyers looking to negotiate.
It’s worth noting that in a hot market you might want to set your price expectations even higher than the -0.7% as things can move pretty quickly.