Richmond Hill Freehold Market Report - Dec 2020

Richmond Hill Freehold Market Report - Dec 2020

Richmond Hill Freehold Market Report - Dec 2020

In Dec 2020, Richmond Hill's freehold housing market remains a strong seller's market in the Great Toronto Area.

The freehold attached houses' average price, including town, semi, and link houses, was up almost 5% from the previous month, now $1M. The number of units sold up 27% while new listings contracted by 31%. We usually see both sellers and buyers are inactive in the winter months. But this year, little supplies amid intense demands resulted in a significant price increase.

The average price of detached houses was little change v.s. last month. Approximately 60% of total freehold units sold in Richmond Hill previous month are Detached houses. If you plan to buy a detached house in Richmond Hill, you will need to spend an average of $1.6M. Usually, the market is slow during the winter months, as both seller and buyer are less motivated to enter the market. But this is an unusual year. The new houses coming to the market dropped by 55%, but the number of sold units remains little change. We anticipate a heated market in the coming months.

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.