July 2018: Detached, Richmond Hill

Summary:

  • Richmond Hill detached home sales up 75.0%, listings up 33.7% YoY
  • TTM Sales to active listings ratio (SALR) is trending downward
  • Average Richmond Hill detached home price is down 2.3% YoY
  • Median Richmond Hill detached home price is down 6.8% YoY
  • Benchmark Richmond Hill detached home price is down 11.8% YoY

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

2 Comments

  1. How can detached sales be up 75% YoY in Richmond Hill? In July 2017, 1895 detached homes sold in Richmond Hill. In July 2018, just 943 homes sold. That’s a 50% drop in sales, not a 75% increase. Did someone hack your site?

    • Hi Alistair,

      The Richmond Hill sales figures were 98 in July 2018 and 56 in July 2017, for a YoY increase of 75%. This is outlined on my “July 2018: Detached Home Sales, Richmond Hill” chart above. Same goes for the Active Listings, there is no error.

      I believe you are referring to the “Supply and Demand” chart. This chart shows Trailing Twelve Months for Active Listings and Sales. It is intended to show the directional change (trend) over the last year for supply and demand. Since it is TTM, the each point on the chart is the sum of the prior twelve months. In July 2018, the July 2017 number “falls off” and is replaced by the July 2018 number. For example, on the “Supply and Demand” chart, the blue line (TTM sales) begins to trend upward a little bit because of July 2018 sales were higher than July 2017.

      I hope this clarifies how to read the chart. Thanks for reading.

      Hanny

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