Oakwyn Realty Ltd.

Executive Summary

The Richmond Hill, Ontario real estate market is currently classified as a balanced market. The median asking price is $1.1M, down 4.6% over the past 30 days.

There are currently 74 active listings. Inventory has increased 68.2% compared to last month.

Currently, listings spend an average of 39 days on market and the average price per square foot is $450.

Detached properties make up the largest share of the Richmond Hill market at 71% of active listings with an average price of $1.8M. Condo listings follow at 29% (avg $707K).

Sales Activity & Absorption

Volume

74
Active
39
Avg DOM
30
New (30d)
5
New (7d)

Market Signals

0
Price Cuts (30d)
5
New (7d)
0
Price Cuts
5
New (7d)

30 new listings appeared in the past month.

Interest Rates & Affordability

Current Rates

Bank of Canada Policy Rate2.25%
Prime Rate4.45%
Est. Variable Rate (Prime + 0.5%)4.95%

Lower rates increase purchasing power. The Bank of Canada sets the policy rate which influences prime rates across lenders.

Estimated Monthly Payment

Based on median price of $1.1M, 20% down, 25yr amortization
$5,258/mo
at 4.95% variable rate

This is an estimate only. Actual rates and payments will vary based on your credit profile, lender, and mortgage terms.

Market Outlook

The market is relatively balanced between buyers and sellers. The Richmond Hill market currently has 74 active listings with a median price of $1.1M.

  • Prices declining (-4.6% in 30 days)
  • Low price reduction rate (0% of listings)
  • Average price per square foot is $450

For Buyers

The Richmond Hill market is balanced. You have reasonable options, but well-priced homes will still draw interest. Get pre-approved and stay informed on new listings. There were 5 new listings in the past week.

For Sellers

Price your home realistically based on recent sales. Focus on presentation and highlight unique features. Well-priced properties are still selling within reasonable timeframes.

Search Richmond Hill

Browse all 74 active listings.

View All Listings

Resources

Market data is calculated from active and recently sold MLS listings as of February 28, 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.