Richmond Hill Real Estate Market — September 2026
September 2026 leaves Richmond Hill a buyer's market: 28% of new listings sold, inventory sits at 6.2 months, and 74% of sales over the past year closed below list price.
Fewer listings. Prices still falling.
Sales peaked at 230 in May with inventory at 5.1 months, then eased to 165 sales and 6.20 months by September. The 12-month average price is $1,224,854, 17.4% below its September 2022 peak.
Market phase: correction, buyers in control. New listings are down 15.8% on the year, but the 12-month average price is falling 9.0% a year, faster than a year ago.
Richmond Hill Housing Market — September 2026 At a Glance
September 2026 was a buyer's market in Richmond Hill. Sales came in at 165, 11.8% fewer than a year earlier, and the median price was $1,070,000, down 9.3%. Supply is easing too: active listings are 13.2% lower than last September. For the regional picture see the York Region housing market, and for a neighbouring market the Markham real estate market report. Every figure below is compared with the same month a year earlier, which removes the seasonal swing that month-to-month comparisons carry.
September 2026 — Full Breakdown
Prices, inventory, what's moving and what's sitting — explained in plain language. Subscribe to get every monthly market video the moment it drops.
Subscribe at youtube.com/@matthewgizzie — monthly market breakdowns for York Region buyers and sellers.
Is Richmond Hill a Buyer's or Seller's Market? — September 2026
The cleanest single read on who holds the leverage is the share of new listings that sell. Under 40% is a buyer's market and over 60% is a seller's market. We show it three ways, because one month can swing: the latest month, the last three months and the last twelve.
Balance Meter
The needle shows the latest month, which can swing. The three- and 12-month reads are steadier.
Seven signals, Jul to Sep 2026 against the same months a year earlier.
Hotter means tighter for buyers; cooler means more room. A signal moves only when it changes by a set amount: 5% for sales and listings, 2% for price, 3 points for the ratios, 0.3 months for inventory.
33% of new listings sold over the last 12 months. The median since 2010 is 51%.
6.03 months on the three-month measure, against 6.43 a year earlier. How long the current stock of listings would last at the current pace of sales.
Every Month Since 2010 — Share of New Listings That Sold
Charcoal favours buyers, gold favours sellers, and the pale middle is balanced. Read across a row to see the season; read down a column to compare the same month over 17 years.
Best positioned right now: Buyers with financing in place, especially for condo apartments, where 83% of sales closed below list and inventory is 6.00 months. Detached homes carry the most inventory at 6.83 months. Move-up buyers also benefit: they sell and buy in the same market, and the step up to a detached home costs fewer dollars than it did at its widest.
Most pressure: Sellers priced to last year's market. Over the last 12 months, 46 listings were pulled for every 100 that came to market, against a long-run norm of 34. South Richvale is the loosest pocket, with 21% of new listings sold and 15.5 months of inventory.
Not sure what 6.2 months of inventory means for your situation?
Get a Custom Breakdown →Richmond Hill Home Price Trends — 2010 to September 2026
One month's average price moves with the mix of homes that happened to sell. To see the real trend we use the 12-month average: total dollar volume divided by total sales over the trailing year. On that measure Richmond Hill peaked at $1,483,708 in September 2022 and now stands at $1,224,854, 17.4% lower. That is close to, but not yet as deep as, the 2018 correction, which bottomed 19.0% below its peak.
12-month average $1,224,854, −9.0% on the year.
12-month average price against its highest level to that point. Zero means a new high. Today: −17.4%.
| Month | Median Price | Average Price | Sales | Median vs a Year Earlier |
|---|---|---|---|---|
| Sep 2026 ✦ | $1,070,000 | $1,178,372 | 165 | −9.3% |
| Aug 2026 | $1,068,888 | $1,203,951 | 175 | −8.2% |
| Jul 2026 | $1,142,500 | $1,227,368 | 180 | −4.8% |
| Jun 2026 | $1,119,000 | $1,243,216 | 225 | −9.6% |
| May 2026 | $1,165,000 | $1,217,729 | 230 | −7.5% |
| Apr 2026 | $1,038,444 | $1,145,363 | 194 | −14.9% |
| Mar 2026 | $1,118,880 | $1,212,639 | 145 | −7.9% |
| Feb 2026 | $1,115,000 | $1,204,219 | 125 | −7.7% |
| Jan 2026 | $1,160,000 | $1,272,325 | 103 | −5.6% |
| Dec 2025 | $1,136,500 | $1,260,424 | 104 | −9.8% |
| Nov 2025 | $1,105,500 | $1,230,874 | 164 | −13.5% |
| Oct 2025 | $1,208,000 | $1,328,641 | 179 | −13.8% |
| Sep 2025 | $1,180,000 | $1,289,958 | 187 | −7.1% |
How Much Are Richmond Hill Buyers Negotiating?
Whether homes sell above or below their list price is the most direct measure of who is negotiating from strength. At the height of the last cycle, in May 2022, 62% of Richmond Hill homes sold above list over the year. Today 74% sell below it.
Each month's share weighted by that month's sales and averaged over 12 months. Above and below are measured against the original list price.
Richmond Hill Home Prices by Property Type — Detached, Condo & Townhouse
Detached homes are 48% of Richmond Hill's resale activity. Every property type is below its price peak, by 16.9% to 27.6%, so the correction is market-wide and not a shift in what is selling. Supply differs sharply by type: semi-detached homes have 2.89 months of inventory, detached homes 6.83. Figures here cover the last 12 months, because the smaller types record few sales in a single month (semi-detached homes average about 7). Investors can cross-check the real estate investor guide and the investment deal analyzer.
Total dollar volume divided by sales over the trailing 12 months, for each property type.
The Last 12 Months by Property Type
| Property Type | Sales | Share | Average Price | vs Year Ago | From Peak | Listings Sold | Below List | Active | Months Inv. |
|---|---|---|---|---|---|---|---|---|---|
| All homes | 1,989 | 100% | $1,224,854 | −9.0% | −17.4% | 33% | 74% | 1023 | 6.03 |
| Detached | 949 | 48% | $1,669,542 | −10.0% | −16.9% | 31% | 77% | 560 | 6.83 |
| Semi-detached | 87 | 4% | $1,072,468 | −6.7% | −17.5% | 38% | 67% | 26 | 2.89 |
| Row townhouse | 376 | 19% | $1,059,721 | −9.3% | −17.9% | 39% | 63% | 116 | 3.87 |
| Condo townhouse | 137 | 7% | $735,329 | −14.6% | −27.6% | 31% | 62% | 69 | 6.09 |
| Condo apartment | 405 | 20% | $558,369 | −9.9% | −21.3% | 33% | 83% | 206 | 6.00 |
All homes also counts link homes and other types not listed, so shares do not add to 100%. Months of inventory is the three-month measure.
Current Active Inventory Snapshot
Is Now a Good Time to Upgrade in Richmond Hill?
A move-up buyer sells and buys in the same market, so what matters is the gap between the two homes, not the level of prices. We track that gap every month back to 2010. Today a detached home costs 57.5% more than a row townhouse, against a long-run median of 62.9%. In other words the step up is priced below its long-run norm. In dollars it is $609,821 today, down from $773,009 at its widest in March 2025. Review the full buyer's guide for York Region before making your move.
| Upgrade Path | Selling (12-Mo Avg) | Buying (12-Mo Avg) | Step Up | Premium | Typical Since 2010 | Read |
|---|---|---|---|---|---|---|
| Row townhouse → Detached | $1,059,721 | $1,669,542 | $609,821 | +57.5% | +62.9% | Narrower than usual |
| Semi-detached → Detached | $1,072,468 | $1,669,542 | $597,075 | +55.7% | +65.0% | Narrower than usual |
| Condo townhouse → Detached | $735,329 | $1,669,542 | $934,213 | +127.0% | +117.7% | Wider than usual |
| Condo apartment → Row townhouse | $558,369 | $1,059,721 | $501,352 | +89.8% | +83.5% | Wider than usual |
| Condo apartment → Semi-detached | $558,369 | $1,072,468 | $514,098 | +92.1% | +81.3% | Wider than usual |
| Condo townhouse → Row townhouse | $735,329 | $1,059,721 | $324,392 | +44.1% | +33.0% | Wider than usual |
A free home valuation gives you your current equity position, the essential first step before any move-up decision. Also review the seller's guide to understand your net proceeds. Get a Free Valuation →
The premium has ranged from +52.6% in May 2023 to +85.3% in November 2016. It was lower than today in 17% of earlier months.
Thinking about upgrading? Find out what your current home is worth first.
Free Home Valuation →Richmond Hill Neighbourhoods — Where to Buy in 2026
Each Richmond Hill neighbourhood has its own price point, property mix and pace. For adjacent markets, see Markham, Vaughan and Aurora. A neighbourhood sees only a handful of sales in any one month, so the figures below cover the full 12 months to September 2026, which is the shortest window that gives a reliable read.
Supply Pressure by Community — 12 Months to September 2026
| Community | Sales | Average Price | vs Year Ago | Listings Sold | Below List | Active | Months Inv. | Condition |
|---|---|---|---|---|---|---|---|---|
| Langstaff | 226 | $755,094 | −8.4% | 35% | 79% | 122 | 6.54 | Buyer-leaning |
| Jefferson | 199 | $1,228,250 | −20.4% | 37% | 67% | 84 | 5.73 | Buyer-leaning |
| Oak Ridges | 191 | $1,272,379 | −7.8% | 30% | 79% | 110 | 6.00 | Buyer-leaning |
| Oak Ridges Lake Wilcox | 154 | $1,375,770 | −9.4% | 34% | 77% | 65 | 5.57 | Buyer-leaning |
| North Richvale | 153 | $1,034,127 | −9.6% | 33% | 88% | 88 | 7.33 | Buyer-leaning |
| Rural Richmond Hill | 146 | $1,307,424 | −10.0% | 26% | 68% | 92 | 5.75 | Buyer-leaning |
| Rouge Woods | 113 | $1,379,284 | −7.3% | 47% | 58% | 36 | 4.00 | Balanced |
| Westbrook | 103 | $1,386,221 | −5.3% | 35% | 69% | 47 | 5.22 | Buyer-leaning |
| Mill Pond | 99 | $1,373,708 | −11.4% | 27% | 84% | 73 | 8.11 | Buyer-leaning |
| Crosby | 97 | $991,673 | −7.1% | 36% | 68% | 48 | 4.36 | Buyer-leaning |
| Observatory | 95 | $1,148,463 | −9.1% | 37% | 69% | 29 | 5.12 | Buyer-leaning |
| Doncrest | 92 | $1,172,413 | −5.2% | 37% | 65% | 39 | 5.09 | Buyer-leaning |
| Harding | 83 | $973,493 | +7.5% | 36% | 81% | 40 | 5.00 | Buyer-leaning |
| South Richvale | 82 | $1,670,412 | −24.7% | 21% | 82% | 93 | 15.50 | Buyer-leaning |
| Devonsleigh | 79 | $1,189,121 | −5.8% | 45% | 66% | 15 | 2.25 | Balanced |
| Bayview Hill | 59 | $2,470,643 | −2.5% | 36% | 83% | 25 | 5.77 | Buyer-leaning |
| Beaver Creek Business Park | 17 | $576,518 | −10.7% | 28% | 82% | 11 | 6.60 | Buyer-leaning |
Listings sold = sales ÷ new listings over 12 months. Above 60% = seller-leaning; 40–60% = balanced; below 40% = buyer-leaning. Average prices cover all property types, so a change in the mix of homes sold can move a neighbourhood's average as much as the market does.
Buying or Selling in Richmond Hill? September 2026 Strategy Guide
Buyers have the leverage. Pricing decides everything else.
74% of sales over the last year closed below list, and 46 of every 100 listings were pulled without selling. Homes priced to today's market are selling in a median of 25 days.
Execution matters more than timing right now. Talk to Matthew directly →
Richmond Hill Investment & Rental Market Outlook — 2026
The average lease signed through the MLS in Richmond Hill over the last 12 months was $2,992 a month, down 2.3% on the year. A headline average can move just because more small units were leased, so we check it by bedroom count. Split the same leases by bedroom count and the drop holds up: rent is lower at every size, from 1.6% for a 2-bedroom to 5.7% for a 1-bedroom. This is rents coming down, not just a change in the mix of units leased. See the full Richmond Hill rental market report.
Total lease value divided by leases signed over the trailing 12 months, for each bedroom count.
| Bedrooms | Leases, 12 Months | Average Rent | vs Year Ago | From Peak | Listings Leased | Active | Median Days to Lease |
|---|---|---|---|---|---|---|---|
| 1 bedroom | 892 | $2,132 | −5.7% | −11.7% | 60% | 124 | 15 |
| 2 bedroom | 847 | $2,629 | −1.6% | −6.9% | 55% | 175 | 20 |
| 3 bedroom | 891 | $3,311 | −3.0% | −14.2% | 67% | 109 | 16 |
| 4 bedroom | 613 | $4,136 | −2.1% | −8.4% | 68% | 63 | 17 |
For Investors
For Renters
For Landlords
Rents are averages of leases signed through the MLS® over the last 12 months. The gross yield compares average rent with average sale price for row townhouses; they are not the same homes, so treat it as a rough guide.
Want to Know What This Market Means for You?
Every situation is different. I break down your exact position — whether you're buying, selling, or investing — using the current Richmond Hill data.
Richmond Hill Real Estate FAQ — Prices, Market & Neighbourhoods
Prices & Market Conditions
Neighbourhoods & Community
Buying & Selling
Richmond Hill Real Estate Forecast — What to Watch in October & November 2026
Our test for a real recovery in Richmond Hill: sales of 190 or more a month with inventory at 4.5 months or less. Caution is sales under 150 or inventory above 6.0 months. Here is how each of the last 12 months scored. None passed; 4 came in mixed (April, May, June and August). September reads caution.
Gold: recovery test met. Charcoal: caution (sales under 150, or inventory over 6 months). Pale: in between.
Inventory moving down toward 4.5 months while sales hold through the fall. Last year sales were 179 in October and 164 in November, so matching those levels with fewer listings would tighten the market. Watch the share of sales closing below list: it was 73% over the last three months against 76% a year earlier.
Sales below 150 a month before December, or inventory staying above 6.0 months. The 12-month average price is falling 9.0% a year, faster than a year ago; until that rate improves, the correction has further to run. The Bank of Canada's next rate decision is October 28.
This is what separates informed decisions from guesswork. Bookmark the Richmond Hill real estate market 2026 report — updated monthly, with every month back to 2010.
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Related Reports & Resources
Coverage
Resale transactions and leases recorded through the MLS® for Richmond Hill, Ontario. Source: HabiStat MLS® statistics, all associations, monthly from January 2010 to September 2026. Excludes new construction sold by builders, assignment sales and private sales. The current partial month is reported separately and left out of every calculation.
Key Definitions
Share of new listings sold (SNLR): sales divided by new listings in the period. Months of inventory: how long active listings would last at the current pace of sales; the three-month measure uses the trailing three months of sales. 12-month average price: total dollar volume divided by total sales over the trailing 12 months. Sale-to-list: sale price as a percentage of list price. Distance from peak: the 12-month average price against its highest level to that point.
How the Reads Are Made
Market phase compares the latest three months with the same three months a year earlier and tags each signal hotter, cooler or steady by a fixed threshold. The balance meter treats under 40% of new listings selling as a buyer's market and over 60% as a seller's market. These are rules applied to the data, not forecasts.
Limitations
Figures by property type or neighbourhood rest on smaller samples and can move with the mix of homes sold, which is why they are shown over 12 months. Average rents cover leases through the MLS® only. All data is subject to revision.
Editorial Notes
Neighbourhood descriptions and commute times are editorial and are not appraisals. Commute times reflect typical off-peak conditions.
All metrics are for informational purposes only and do not constitute financial, legal or investment advice. MLS® is a registered trademark of the Canadian Real Estate Association. Matthew Gizzie is a registered REALTOR® with Keller Williams Realty Centres, Brokerage.
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