April 2018: Detached, Richmond Hill

Summary:

  • Richmond Hill detached home sales down 48.4%, listings up 71.2% YoY
  • TTM Sales to active listings ratio (SALR) is trending downward
  • Average Richmond Hill detached home price is down 22.1% YoY
  • Median Richmond Hill detached home price is down 25.4% YoY
  • Benchmark Richmond Hill detached home price is down 17.1% YoY

You can read the original April 2018 TREB Market Watch publication here.

1 Comment

  1. A bit surprised to see the month-over-month bump up in prices. But it’s nonetheless hard to see how prices don’t continue to fall after the spring season is over, given sales and supply volumes … not to mention the still sky high prices. Historically, wages and rental rates have dictated long term home price trends and current prices are far from being in line with either (around 3 standard deviations off I believe).

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