Richmond Hill Real Estate Market — Key Takeaways
Richmond Hill recorded 118 resale transactions in February 2026, representing $144.3M in total dollar volume. With an SNLR of 29% and 6.50 months of inventory, Richmond Hill is the most buyer-favourable major municipality in York Region this month — surpassing even Aurora’s elevated inventory. Row townhouses hit 100% SP/LP and condo townhouses matched them, yet both segments sit in buyer territory by SNLR. Detached homes at a $1,525,000 median represent a meaningful entry point into Richmond Hill’s established luxury communities for buyers who have been priced out in prior cycles.
- ▼Price trend: Median $1,124,500 — down significantly from an estimated $1,450,000+ in early 2025. Detached segment ($1,525,000 median) leads the correction.
- ▼Inventory pressure: 6.50 MOI and 29% SNLR — the deepest buyer’s market reading in York Region. Sellers face meaningful competition from 812 active listings.
- ~Speed: Avg DOM 43 days, median DOM 24 days — Mill Pond fastest at 13-day avg; Langstaff slowest at 63-day avg.
- !Bright spots: North Richvale (SNLR 61%), Devonsleigh (SNLR 56%, avg $1.4M), and Jefferson (100% SP/LP, SNLR 43%) show pockets of genuine demand. Rouge Woods also hit 100% SP/LP with a 22-day avg DOM.
February Summary: Richmond Hill is the most buyer-favourable market in York Region as of February 2026. At 6.50 months of inventory and SNLR of 29%, buyers hold significant negotiating leverage — particularly in the detached segment where 193 new listings generated only 56 sales (SNLR 29%). The luxury pockets of Bayview Hill ($2.5M avg) and South Richvale ($2.1M avg) continue to sit with elevated DOM despite Richmond Hill’s prestige positioning. Motivated, well-priced sellers are still transacting — Jefferson hit 100% SP/LP — but overpriced listings are accumulating days.
Data based on TRREB MLS® reported February 2026 resale activity.
Richmond Hill Market Conditions — February 2026
Richmond Hill’s SNLR of 29% and 6.50 months of inventory are the most buyer-side readings of any major York Region municipality in February 2026. Row townhouses and condo townhouses paradoxically achieved 100% SP/LP despite buyer-side SNLR — a sign that well-priced product in specific segments is still transacting competitively.
SNLR < 40% (typically)
40%–60%
SNLR > 60%
What this means: At 6.50 months of inventory and SNLR of 29%, buyers in Richmond Hill have the most negotiating power in York Region right now. The 412-unit gap between active listings (812) and monthly sales (118) means sellers are competing hard for a limited pool of buyers. The 97% SP/LP ratio tells you sellers are accepting below-asking offers as the norm. Use conditions freely — home inspection and financing are both reasonable to request across all segments. The median DOM of 24 days means the urgency pressure that sellers used in prior cycles has largely dissolved.
For Buyers: Richmond Hill in February 2026 is as buyer-friendly as it has been since 2018. With 6.50 months of inventory and only 29% SNLR, you have time, selection, and leverage across nearly every product type. Detached homes at a $1,525,000 median are entering ranges that qualify more buyers than at 2022–23 peaks. The luxury segment (Bayview Hill, South Richvale) is particularly negotiable — elevated DOM, 93–95% SP/LP. Even in tighter pockets like North Richvale and Jefferson, the broader market conditions mean you should still arrive pre-approved, include conditions, and test the seller’s flexibility before escalating. The one exception: row townhouses and condo townhouses hitting 100% SP/LP suggest properly priced townhome inventory is moving at ask.
For Sellers: Richmond Hill’s 97% SP/LP ratio and 6.50 MOI tell a consistent story — buyers are expecting discounts and getting them. The critical decision is entry pricing. With 812 active listings competing for 118 monthly buyers, overpriced homes are simply invisible. Langstaff’s 63-day average DOM is a cautionary data point: that neighbourhood has a $589K median but listings are sitting because sellers priced to the average ($740K) rather than the median. Price to where buyers are actually transacting, not where you hope to land. If your home sits more than 3 weeks without an offer, a price adjustment is almost certainly warranted rather than waiting it out.
For Investors: Richmond Hill’s investment case is anchored in long-term Yonge Street corridor density, GO train access, and York Region’s strongest luxury community premiums. The condo apartment segment ($580K median, 32% SNLR, 50-day DOM) warrants careful cash flow analysis — maintenance fees and current rent-to-price ratios require detailed underwriting before committing. The row townhouse segment (100% SP/LP, $1,098,000 median) is the move-up product with the best liquidity signal. For investors with a 10+ year horizon, well-located detached homes near Yonge and Major Mackenzie at corrected prices represent the most defensible entry in a generation.
Richmond Hill Median Home Price — 13-Month Trend
Richmond Hill’s February 2026 median sale price is $1,124,500 per TRREB MLS®. Prior months are estimated based on York Region pricing trends and are shown for directional context only. The estimated peak near $1,500,000 in early 2025 represents a correction of approximately 25% to today’s median — among the steepest corrections in York Region given Richmond Hill’s premium starting point. Only the February 2026 data point is sourced directly from TRREB; all prior months are estimated.
Trend Note: Richmond Hill’s February 2026 median of $1,124,500 represents a modest uptick from an estimated January low, consistent with the York Region-wide pattern of slight MoM improvement in February. The estimated 25% correction from the early-2025 peak is among the steepest in the region in absolute dollar terms — reflecting Richmond Hill’s premium price base. Whether February’s improvement marks a floor or a seasonal bounce will depend on March–May volume. A return to the $1.1M–$1.2M range as a sustained median is plausible if spring demand arrives and inventory growth moderates. Only February 2026 is sourced directly from TRREB MLS®.
Richmond Hill Home Prices by Property Type — February 2026
Detached homes accounted for 47.5% of Richmond Hill’s sales (56 of 118) with a $1,525,000 median. Row townhouses and condo townhouses both hit 100% SP/LP — the strongest demand signal of any type this month. Condo apartments remain the most accessible entry point at $580,000 median with 27 sales. Link homes had only 2 sales (SNLR 200% due to fewer new listings than sales — interpret directionally only).
February 2026 — Property Type Breakdown
Detached homes dominated at nearly half of all sales. Row townhouses and condo townhouses both achieved 100% SP/LP — a counter-intuitive result in a buyer’s market, explained by sellers in those segments pricing accurately to current conditions. Note: link (n=2), condo townhouse (n=7), and semi (n=4) are low-volume — treat as directional.
| Property Type | Sales | Avg Price | Median Price | Avg DOM | Med DOM | SP/LP | SNLR |
|---|---|---|---|---|---|---|---|
| Detached | 56 | $1,654,346 | $1,525,000 | 42 | 19 | 96% | 29% |
| Row Townhouse | 21 | $1,106,142 | $1,098,000 | 46 | 20 | 100% | 27% |
| Condo Apartment | 27 | $570,240 | $580,000 | 50 | 30 | 97% | 32% |
| Condo Townhouse | 7 | $727,143 | $695,000 | 30 | 24 | 100% | 19% |
| Semi-Detached | 4 | $994,500 | $946,500 | 32 | 21 | 97% | 29% |
| Link Home | 2 | $1,082,500 | $1,082,500 | 26 | 26 | 95% | 200%* |
*Link SNLR of 200% reflects 2 sales against only 1 new listing — statistically anomalous, not a demand signal. Low volume (n=2); treat as directional only.
Type Takeaway: The 100% SP/LP on row townhouses and condo townhouses is the most interesting data point in February — it suggests that when sellers price these product types accurately, buyers are still willing to pay full ask even in a buyer’s market. Detached homes at 96% SP/LP with a 42-day average DOM confirm that buyers are negotiating a ~4% discount on the way in. Condo apartments have the longest average DOM (50 days) and the most supply pressure, making them the segment where buyers have the most leverage for incentives and price concessions.
Sales Distribution by Price Band — February 2026
The $1,000,000–$1,249,000 range was the most active band with 27 transactions — 22.9% of all Richmond Hill sales. The sub-$700K range accounted for 28 sales (primarily condos). The $2M+ segment recorded 11 sales — 9.3% of volume, reflecting Richmond Hill’s luxury depth.
Is Now a Good Time to Upgrade in Richmond Hill?
The spread between condo apartments and detached homes is approximately $945,000 median-to-median. Detached homes are sitting at 42 days average DOM with SNLR of 29% — buyers upgrading from a condo or townhouse have the most negotiating leverage on detached purchases that Richmond Hill has offered in years.
| Upgrade Path | Selling Price (Est.) | Buying Price (Est.) | Price Spread | Market Signal | Condition |
|---|---|---|---|---|---|
| Condo Apt → Detached | ~$580,000 (med) | ~$1,525,000 (med) | $945,000 | ▼ Detached SNLR 29%; maximum leverage | Strong Buyer’s |
| Row Town → Detached | ~$1,098,000 (med) | ~$1,525,000 (med) | $427,000 | ▼ Best gap-narrowing window since 2018 | Strong Buyer’s |
| Condo Apt → Row Townhouse | ~$580,000 (med) | ~$1,098,000 (med) | $518,000 | ⚠ Row towns: 100% SP/LP — price accurately | Price-Sensitive |
| Condo Apt → Semi-Detached | ~$580,000 (med) | ~$946,500 (med) | $366,500 | ▼ Semi: SNLR 29%; negotiate freely (n=4) | Buyer’s |
Know your equity before you move. A free home valuation tells you where you stand — the essential first step in any upgrade decision.
Get Your Valuation →Factors Shaping the Richmond Hill Market in 2026
Richmond Hill’s premium market is shaped by macro forces common to York Region alongside local dynamics specific to the Yonge corridor, luxury segment concentration, and GO transit infrastructure.
The BoC’s 200 bps rate reduction over 2024–25 brought meaningful relief to variable-rate holders. Fixed 5-year rates now sit in the 4.1%–4.4% range. For Richmond Hill’s premium market, the impact is significant: a $1.5M detached home requires approximately $300K down and ~$240K household income to qualify at the stress test rate. Rate relief has meaningfully expanded the qualifying pool for Richmond Hill’s entry-level detached segment. Each 25 bps BoC cut expands the qualifying buyer pool and supports price floors.
Richmond Hill’s luxury neighbourhoods (Bayview Hill avg $2.5M, South Richvale avg $2.1M, Westbrook avg $1.8M) are experiencing the deepest corrections in percentage and absolute dollar terms. Bayview Hill’s 14% SNLR and South Richvale’s 24% SNLR confirm buyer dominance at the top end. For buyers targeting Richmond Hill’s $2M+ segment, February 2026 offers negotiating conditions not seen since 2018 — 93–95% SP/LP and 34–67 day average DOM. The luxury correction has further to run before equilibrium unless broader market confidence returns.
Richmond Hill’s position along Yonge Street — one of Canada’s most intensifying arterials — and GO Barrie Line access (Richmond Hill GO, Langstaff GO) create lasting demand fundamentals. The planned Yonge North subway extension toward Richmond Hill Centre remains a long-term value driver for properties near the Yonge and Highway 7 node. Properties within walking distance of Richmond Hill GO and Langstaff GO carry persistent premiums that hold through market cycles. Transit-proximate holdings are the most defensible investment thesis in this correction.
Richmond Hill has historically attracted a significant proportion of its buyer demand from newcomers — particularly from Iran, Hong Kong, China, and South Korea — drawn by the established community infrastructure, prestige schools, and Yonge corridor proximity. Reduced immigration targets for 2025–26 have softened this demand stream near-term. The long-term trajectory of Richmond Hill as a preferred destination for high-income immigrants remains intact, but the near-term demand cushion is thinner than 2022–23.
The stress test impact is most acute in Richmond Hill given the price level. A $1.5M detached home with 20% down ($300K) requires qualifying on a $1.2M mortgage at ~6.25% — approximately $237K household income. This remains a significant barrier, though reduced from the 2023 peak when qualifying rates were higher. The November 2024 exemption from re-qualifying at lender switches helps Richmond Hill’s renewal cohort meaningfully, reducing forced-sale risk in a segment that carries significant mortgage balances.
CUSMA uncertainty and US tariff pressure are suppressing buyer confidence across York Region. Richmond Hill’s buyer pool — which skews toward self-employed professionals, executives, and business owners — is particularly sensitive to economic uncertainty. Trade resolution would likely catalyze a spring demand response in Richmond Hill’s premium segments faster than in lower price tiers, as equity-rich buyers waiting on the sidelines return to market.
The Langstaff Gateway Secondary Plan envisions 40,000+ residents and significant employment in a transit-oriented community around the Langstaff GO station. This long-term densification adds medium-term condo supply (additional competition for resale investors) but supports long-term price appreciation as infrastructure investment validates the node. Short-term: condo completions near Langstaff add resale competition. Long-term (2027+): the Gateway buildout is a positive demand anchor for the entire Richmond Hill market.
Richmond Hill’s school catchment premium is among the most durable demand drivers in York Region. Bayview Secondary School (IB), Richmond Hill High School, and the network of top-ranked elementary schools consistently attract families who prioritize school access in their buying decisions. Neighbourhoods with direct access to Bayview Secondary and Richmond Hill High School catchments — Observatory, Rouge Woods, Jefferson — demonstrate consistently lower DOM and stronger SNLR readings than the Richmond Hill average. This premium persists through market cycles.
Richmond Hill Neighbourhoods — Where to Buy in 2026
The six communities below are Richmond Hill’s most active by February 2026 transaction volume. Richmond Hill has some of York Region’s most distinct neighbourhood tiers — from Langstaff’s condo-dense GO corridor entry point to the estate luxury of Bayview Hill. Each neighbourhood reflects a different buyer profile and price reality.
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Get Sold Alerts →| Community | New Listings (Feb) | Sales (Feb) | SNLR | Condition |
|---|---|---|---|---|
| North Richvale | 23 | 14 | SNLR 61% | Seller-Leaning |
| Devonsleigh | 9 | 5 | SNLR 56% | Seller-Leaning |
| Harding | 17 | 8 | SNLR 47% | Balanced |
| Jefferson | 28 | 12 | SNLR 43% | Balanced |
| Observatory | 28 | 8 | SNLR 29% | Buyer-Leaning |
| Oak Ridges | 47 | 13 | SNLR 28% | Buyer-Leaning |
| Langstaff | 47 | 13 | SNLR 28% | Buyer-Leaning |
| Rural Richmond Hill | 42 | 7 | SNLR 17% | Buyer-Leaning |
| Bayview Hill | 14 | 2 | SNLR 14% | Buyer-Leaning |
SNLR = sales ÷ new listings. Above 60% = seller-leaning; 40–60% = balanced; below 40% = buyer-leaning. Data window: Feb 1–28, 2026. Source: TRREB MLS®.
| Metric | Feb 2026 | Note |
|---|---|---|
| Avg price | $994,428 | n=14 sales |
| Median price | $940,000 | SNLR 61% |
| New listings | 23 | 48-day avg DOM |
| Metric | Feb 2026 | Note |
|---|---|---|
| Avg price | $740,692 | Wide avg–median gap |
| Median price | $589,000 | Condo mix drives median |
| New listings | 47 | 63-day avg DOM |
| Metric | Feb 2026 | Note |
|---|---|---|
| Avg price | $1,401,560 | n=5 sales |
| Median price | $1,332,800 | SNLR 56% |
| New listings | 9 | Tight supply |
| Metric | Feb 2026 | Note |
|---|---|---|
| Avg price | $1,330,904 | n=13 sales |
| Median price | $1,350,000 | SNLR 28% |
| New listings | 47 | 40-day avg DOM |
| Metric | Feb 2026 | Note |
|---|---|---|
| Avg price | $1,225,833 | n=12 sales |
| Median price | $1,150,995 | 100% SP/LP |
| New listings | 28 | SNLR 43% |
| Metric | Feb 2026 | Note |
|---|---|---|
| Avg price | $855,875 | n=8 sales |
| Median price | $821,500 | SNLR 47% |
| New listings | 17 | 32-day avg DOM |
| Metric | Feb 2026 | Note |
|---|---|---|
| Avg price | $1,368,250 | Wide avg–median gap |
| Median price | $1,072,500 | SNLR 29% |
| New listings | 28 | 32-day avg DOM |
Richmond Hill Rental Market — 2026 Overview
Richmond Hill’s rental market reflects a similar rebalancing to the resale market — supply has increased through condo completions in the Langstaff and Yonge corridor areas, giving tenants more options and negotiating room than in prior years.
For Renters: Richmond Hill’s rental market has loosened meaningfully in 2025–26. Average asking rents for a 2-bedroom condo are in the $2,400–$2,750/month range as of early 2026. Renters now have room to negotiate on lease terms, move-in incentives, and parking. Properties near Langstaff GO and Yonge Street command a persistent premium. If you’re renting in Richmond Hill, arrive with competing offers in hand and don’t hesitate to negotiate — the market supports it.
For Landlords: Condo completions along the Langstaff/Yonge corridor have added meaningful supply, and auto-filling units at above-asking rents is no longer the norm. Pricing to market, presenting units in excellent condition, and offering competitive parking/locker packages are essential to minimizing vacancy. The school catchment premium remains real for 3-bedroom units — families willing to pay a premium for access to Bayview Secondary and Jefferson school zones are a reliable tenant profile for larger units.
For full Richmond Hill rental data by unit type, see the Richmond Hill Rental Market Report →
Richmond Hill Housing Market — Common Questions Answered
What is the average home price in Richmond Hill in 2026?+
Is Richmond Hill a buyer’s or seller’s market right now?+
Will Richmond Hill home prices drop further in 2026?+
What are the best neighbourhoods in Richmond Hill?+
How far is Richmond Hill from Toronto?+
What schools are in Richmond Hill?+
Is now a good time to buy a home in Richmond Hill?+
How much do I need for a down payment on a Richmond Hill home?+
The data presented in this report is sourced from the TRREB MLS® System and reflects resale transactions recorded in February 2026 in Richmond Hill, Ontario. All metrics are for informational purposes only and do not constitute financial 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. Price trend chart prior months (Feb 2025–Jan 2026) are estimated based on York Region trends — only February 2026 is sourced directly from TRREB. All figures are subject to TRREB revision.
