Richmond Hill freehold and condo average price declined May 2022

Richmond Hill freehold and condo average price declined May 2022

Richmond Hill freehold and condo average price declined May 2022

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Richmond Hill average home price declined in

Freehold Attached Market

The freehold attached houses' average price, including town, semi, and link houses, was down 6.5% from the previous month, up 17.6% from the same month last year. The average time to sell this type of home is around 15.8 Days. The current month of inventory of Attached houses in Richmond Hill is about 2.5. Therefore, this segment of housing is currently in a Balanced Market.

Freehold Detached Market

The average price of detached houses was down 5.2% from the previous month, up 9.3% from the same month last year. Approximately 64.9% 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 $2M. The current month of inventory of detached dwellings in Richmond Hill is around 4.05. The new listings were down 9.4% from the previous month, and down 31.1% from the same month last year.

Condo Market

The condo market is a Balanced Market. It takes an average of 12 days to sell a condo unit in Richmond Hill. The average price was down 1.5% from the previous month, up 15.7% from the same month last year. The new listings were down 1.8% from the previous month, and down 9.7% from the same month last year.

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.