Richmond Hill Freehold Market Report - Sep 2020

Richmond Hill Freehold Market Report - Sep 2020

In Sep 2020, the freehold housing market of Richmond Hill is a strong seller's markets.

The average price of the freehold town, Semi and link houses is down 4% from the previous month, now $960K. The number of sold units decreases by 25% while new listings increases by 10%. It will cost 13% more to purchase this type of house over the same period last year.

The average price of detached was lower by around 2% in Sep 2020. Approximately 73% of total freehold units sold in Richmond Hill last month are Detached houses. Now if you plan to buy a detached house in Richmond Hill, you will need to spend on average $1.51M. In traditional months of autumns, the market will become slower as both new listings and sales will drop in the following months. But this year the demand in Richmond hill is strong because many buyers choose to purchase freehold houses in the suburban area instead of a condominium in the downtown core due to COV-19 pandemic.

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