Observatory MLS Real Estate Listings observatory real estate homes houses mls listings

 

Neighbourhood Amenities   23 Observatory Lane Townhomes
Observatory, Richmond Hill   Richmond Hill, York Region
 

 

In order to understand the attractiveness of the Observatory, Richmond Hill neighbourhood for buyers and sellers, it is necessary to compare the present market to a previous one. In this case the third quarter statistics of 2014 are compared side-by-side to the third quarter statistics of 2013 from the Community Housing Market Report York Region, Richmond Hill, with with the increase or decrease in results in the right hand column.

 

Observatory 3rd Quarter 2013 3rd Quarter 2014 Increase/Decrease
House Sales 29 35 +6
Average Home Price $464,097 $554,521 +$90,424
Dollar Volume $13,458,800 $19,408,250 +$5,949,450
New Listings 39 47 +8
Active Listings Inventory 18 14 -4
Average Days On Market 35 20 -15
% Of Sold Price To Listing Price 98% 100% +2

 

Home sales in 2014 were 35, up from the 29 in 2013, and the Average Home Sale Price increased on average by $90,424. For the same time there were 8 more New Listings in 2014, 4 fewer Active Listings, and the price per home went up along with a total Dollar Volume increase of $5,949,450. Surely, the desirability of the neighbourhood helped with the sales increase, but continually low interest rates also helped in this regard. During the same period, the Average Number of Days on the market decreased from 35 to 20 which was very good for home sellers. The Percentage of Sold Price To Listing Price increased to 100% from 98% in 2013. The majority of Observatory real estate sales came from condo townhouses with detached homes gaining momentum as shown below with breakdown by type. This desirable neighbourhood is another indicator of the strength of the overall Richmond Hill Housing Market.

 

Type Number of Sales 2013 Number of Sales 2014 Increase/Decrease
Detached 8 12 +4
Attached Freehold 1 0 -1
Condo Townhouse 17 15 -2
Condo Apartment 3 8 +5

 

This is another example of Real Estate as a Great Investment. At present there is relatively low risk with excellent chances of increasing the value of your own estate. With homes selling close to or at full listing price in a relatively short length of time, Observatory, Richmond Hill continues to be strong in York Region real estate and a great investment despite the reduction in sales. Our strong economy should continue with this neighbourhood helping to lead the way.

 

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Observatory MLS Real Estate Listings observatory real estate homes houses mls listings

 

 

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