Richmond Hill Freehold Market Report - Jan 2021

Richmond Hill Freehold Market Report - Jan 2021

Richmond Hill Freehold Market Report - Jan 2021

In Jan 2021, 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 7.8% from the previous month, now $1.08M. The number of units sold down 30% while new listings up by 38%. This segment of housing is currently in a very hot seller's market.

The average price of detached houses was up 8% from the previous month. Approximately 70% of total freehold units sold in Richmond Hill last month are Detached houses. If you plan to buy a detached house in Richmond Hill, you will need to spend an average of $1.74M. The shortage of supply amid robust demand at the first half of this month pushes the average price of detached up significantly. With more listings coming to the market, it will give some breaks to potential buyers. In the coming months, we predict the pace of the rising price will slow down.

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.