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In order to understand the attractiveness of the Devonsleigh, Richmond Hill neighbourhood for buyers and sellers, it is necessary to compare the present market to a previous one. In this case the fourth quarter statistics of 2014 are compared side-by-side to the fourth 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.

 

Devonsleigh 4th Quarter 2013 4th Quarter 2014 Increase/Decrease
House Sales 28 20 -8
Average Home Price $645,713 $703,079 +$57,366
Dollar Volume $18,079,976 $14,061,580 -$4,018,396
New Listings 39 34 -5
Active Listings Inventory 11 15 +4
Average Days On Market 30 28 -2
% Of Sold Price To Listing Price 97% 100% +3

 

Home sales in 2014 decreased to 20 from 28 in 2013, and the Average Home Sale Price increased on average by $57,366. At the same time there were 5 fewer New Listings in 2014, 4 more Active Listings, and the price per home went up along with a total Dollar Volume decrease of $4,018,396. Surely, the desirability of the neighbourhood helped keep the prices up, but continually low interest rates also helped in this regard with the sale price. During the same period, the Average Number of Days on the market decreased  from 30 in 2013 to 28 in 2014 which is still allright for home sellers. The Percentage of Sold Price To Listing Price increased to 100% from 97% for the same period of time. The majority of Devonsleigh real estate sales came from detached houses and condominium apartments 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 22 14 -8
Semi-Detached 0 0 0
Freehold Townhome 3 2  -1
Condo Townhouse 1  0   -1
Condo Apartment 7 4 -5
Other 0 0 0

 

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 full listing price in a relatively short length of time, Devonsleigh, 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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