Richmond Hill Real Estate - Market Statistics for February 2007, Ontario, Canada
Richmond Hill home sales volume in February 2007 was very strong. According to the Toronto Real Estate Board, this past February was the second best February ever recorded in terms of sales volume on the Toronto MLS® system. There were a total of 6,772 homes sold in February 2007 up marginally from Feb 2006, which saw 6,756 sales.
For Richmond Hill’s three MLS® districts there were strong sales numbers with 170 homes sold in the South end or Richmond Hill (N03 district), 80 homes sold in the N04 district and 57 houses sold in the Oak Ridge’s area or N05 district.
Here is the quick breakdown of the numbers for each district:
All Home sales in Richmond Hill, Ontario, Canada.
| sales | Average Sale price | Median Sale Price |
N03 | 170 | $425,375 | $382,000 |
N04 | 80 | $397,712 | $391,250 |
N05 | 57 | $451,554 | $445,000 |
Detached homes in Richmond Hill
| Homes sold | Average sale price | Median Sale Price |
N03 | 74 | $602,057 | $585,000 |
N04 | 52 | $449,894 | $455,000 |
N05 | 38 | $504,068 | $477,750 |
Semi-Detached homes in Richmond Hill
| Homes sold | Average sale price | Median Sale Price |
N03 | 8 | $393,363 | $399,400 |
N04 | 9 | $299,788 | $278,500 |
N05 | 4 | $336,500 | $337,500 |
Condo Apartments in Richmond Hill
| Homes sold | Average sale price | Median Sale Price |
N03 | 45 | $220,623 | $220,000 |
N04 | 5 | $174,700 | $171,000 |
N05 | 0 | N/A | N/A |
Condominium townhouses in Richmond Hill
| Homes sold | Average sale price | Median Sale Price |
N03 | 12 | $266,787 | $267,944 |
N04 | 2 | $322,250 | $322,250 |
N05 | 0 | N/A | N/A |
Townhouses in Richmond Hill
| Homes sold | Average sale price | Median Sale Price |
N03 | 29 | $373,593 | $366,000 |
N04 | 12 | $350,542 | $346,500 |
N05 | 11 | $332,273 | $331,000 |
My Richmond Hill market analysis.
Behind the basic numbers there are a few interesting numbers to note. The biggest home sales to listings ratios for Richmond Hill are in the semi-detached homes and townhouses with more than half of the listed homes selling.
On the other hand the detached homes in Oak Ridge, or the N05 district, had a “home sales” to “listed homes” ratio of only 17.8% with 213 homes listed and only 38 sales in February. This is significantly lower than other area in Richmond Hill, and could signal some price reductions in the area soon.
All in all the markets are still strong and there are plenty of home buyers looking at this time. I expect that home sales prices will continue to increase slightly over the next few months, although I think that many of the homes in the N05 district will have to adjust their asking prices to be more realistic in today’s market.
If you want to move and are looking to find Richmond Hill homes for sale I would love to help out. This is also true if you have a home in Richmond Hill or the surrounding area and you need to sell it or would like to know what your Richmond Hill home’s value is.
All statistics and values posted here are for Richmond Hill, Ontario, Canada. If you want more information on real estate in Richmond Hill, Ontario, Canada please feel free to contact me through any of my websites or call me at 416-278-2335 (my direct line).
