Limited supplies push up the price of freehold town and semi houses in Richmond Hill July 2021 .

Limited supplies push up the price of freehold town and semi houses in Richmond Hill July 2021 .

Limited supplies push up the price of freehold town and semi houses in Richmond Hill July 2021 .

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Limited supplies push up the average price of freehold town & semi houses in Richmond Hill.

Freehold Attached Market

The freehold attached houses' average price, including town, semi, and link houses, was unchanged v.s. last month, up 20.0% from the same month last year. The average time to sell this type of home is around 13.7 Days. The current month of inventory of Attached houses in Richmond Hill is about 0.7. Therefore, this segment of housing is currently in a Strong Seller's Market.

Freehold Detached Market

The average price of detached houses was up 4.2% from the previous month, up 21.5% from the same month last year. Approximately 68.0% of total freehold units sold in Richmond Hill last month are Detached houses. If you plan to buy a detached home in Richmond Hill, you will need to spend an average of $1.8M. The current month of inventory of detached dwellings in Richmond Hill is around 1.81. Both new listings and sold listing dropped by around 20%.

Condo Market

Richmond Hill condo market is very robust. The average price of the condo was up 5% compared June, and up 16% v.s. last July. The sold listing dropped by 19%. On rental market, demand for smaller units is very strong. The average rental price between 500sqf and 700sqf has increased by 10% since this Jan.

If you plan to move to Richmond Hill or you want to learn more about real estate investment opportunities in Richmond Hill, please contact Richmond Hill real estate agent Realtor Alan Zheng at 647-877-9311.