Over the past 12 months, the average sold prices in Richmond Hill have experienced notable fluctuations. Recent data indicate that the latest average sold price in September 2025 stands at approximately $1,324,741, while the HPI benchmark price is around $1,235,500. The short-term market shows a decline with a 1-month drop of around 1% and a 1-year decrease of nearly 7.8% as per the HPI data, suggesting a softening in price momentum compared to previous periods. However, when looking at longer-term trends (5-year and 10-year changes of +16.59% and +44.42% respectively), the market shows strong underlying resilience, which can be a key point to highlight when advising long-term investors or homeowners considering future appreciation potential despite current short-term adjustments.

Market supply and demand dynamics further underscore this cautious environment. Recent monthly statistics reveal that while the number of new listings and active listings have remained robust—with active listings ranging around 1,100 and new listings steady in the 600s—the balance between these figures and the number of properties sold has contributed to an average days on market (DOM) hovering around 30–33 days, coupled with a months of inventory (MOI) just under 6. This equilibrium indicates a moderately competitive market where properties are moving, yet the slight excess in supply suggests a buyer-friendly setting. Agents should leverage these insights by advising clients that while the current market environment may benefit buyers with slightly longer decision times and negotiation options, the long-term market fundamentals remain robust, ensuring continued potential for appreciation.

Read the full article on: Toronto Regional Real Estate Board