Richmond Hill Real Estate Market Report
Executive Summary
Dan BraunLocal expert · Richmond HillThe Richmond Hill, Ontario real estate market is currently classified as a buyer's market. The MLS composite benchmark price is $1.2M, down 8.9% year-over-year.
There are currently 76 active listings, representing 4.4 months of inventory. According to Toronto Regional Real Estate Board, there were 230 sales and 567 new listings in June 2026. Inventory has decreased 85.1% compared to last month.
Currently, listings spend an average of 55 days on market and the average price per square foot is $655.
Board Data vs Our Listings
| Metric | Toronto Regional Real Estate Board | Our Listings |
|---|---|---|
| Benchmark / Median Price | $1.2M | $1.1M |
| Average Price | $1.2M | $1.4M |
| Active Listings | 1,009 | 76 |
Detached properties make up the largest share of the Richmond Hill market at 70% of active listings with an average price of $2.0M. Condo listings follow at 30% (avg $627K).
Sales Activity & Absorption
Volume
Market Signals
Toronto Regional Real Estate Board reported 230 sales this period, 30 new listings appeared in the past month.
Market Balance
Months of Inventory
Demand moderately exceeds supply — conditions favor sellers.
At 4.4 months of inventory, the market is balanced. Neither buyers nor sellers have a decisive advantage — a good time for realistic pricing and considered offers.
Interest Rates & Affordability
Current Rates
Lower rates increase purchasing power. The Bank of Canada sets the policy rate which influences prime rates across lenders.
Estimated Monthly Payment
This is an estimate only. Actual rates and payments will vary based on your credit profile, lender, and mortgage terms.
Market Outlook
This is currently a buyer's market with more negotiating power for purchasers. The Richmond Hill market currently has 76 active listings with a median price of $1.1M and 4.4 months of inventory.
According to Toronto Regional Real Estate Board, the composite benchmark price is $1.2M (-8.9% year-over-year). There were 230 sales recorded
- Prices declining (-32.7% in 30 days)
- Low price reduction rate (0% of listings)
- Low sell-through rate (41%)
- Slow-moving market (55 avg days on market)
- Average price per square foot is $655
Data sourced from CREA DDF® active and sold listings. Metrics computed from listing data updated daily, with board statistics from Toronto Regional Real Estate Board. Prepared by Dan Braun with AI assistance, reviewed by our team.
Market data is calculated from active and recently sold MLS® listings as of July 2026. Past performance does not guarantee future results. Consult a real estate professional for specific advice.
Data provided by CREA DDF. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA). Information deemed reliable but not guaranteed.