In order to understand the attractiveness of the Rural neighbourhoods for buyers and sellers, it is necessary to compare the present market to a previous one. In this case the second quarter of 2014 is compared side-by-side to the second quarter statistics of 2013, with with the increase or decrease in results in the right hand column.
Rural Richmond Hill
3rd Quarter 2013
3rd Quarter 2014
Average Home Price
Active Listings Inventory
Average Days On Market
% Of Sold Price To Listing Price
Home sales in 2014 decreased to 4 from 5 in 2013, and the Average Home Sale Price increased on average by $287,520. At the same time there was 1 more Active Listing in 2014 as well as 2 more New Listings, and the prices went up as product increased slightly. Surely, the desirability of the neighbourhood helped keep the prices up, too, but continually low interest rates also helped keep sales stable. During the same period, the Average Number of Days on the market increased from 49 in 2013 to 56 in 2014 which is still good for home sellers considering the homes are usually quite expensive. The Percentage of Sold Price To Listing Price decreased to a lower 90% in 2014 from 94% in 2013. All of the Rural real estate sales is usually from detached estate homes and not from any other type of home as is the norm in most other parts of the town. This extremely desirable neighbourhood is another indicator of the strength of the overall Richmond Hill Housing Market.
Number of Sales 2013
Number of Sales 2014
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 fairly high in a relatively short length of time, the Rural neighbourhood continues to be strong in Richmond Hill real estate and a great investment. Our strong economy should continue with this neighbourhood helping to lead the way.