Richmond Hill Housing Market Report — July 2026
Richmond Hill is a York Region city of approximately 202,000 situated along the Yonge Street corridor roughly 25 km north of downtown Toronto. One of the GTA’s more affluent suburban markets, Richmond Hill combines established, tree-lined detached neighbourhoods with newer condo and townhouse development near Highway 7 and the Richmond Hill GO Station. The city has some of York Region’s top-rated school catchments and is home to large, well-established Chinese and Persian (Iranian) communities, particularly around Bayview Avenue and the Bayview Hill and Westbrook neighbourhoods.
July 2026 data from the Toronto Regional Real Estate Board (TRREB) shows prices continuing to soften both year-over-year and month-over-month, consistent with the broader GTA correction.
Key Highlights — July 2026 (TRREB):
- Average home price: $1,222,748 (-7.77% YoY, -1.55% MoM)
- MLS® HPI Composite benchmark: $1,166,500 (-6.16% year-over-year)
- Total sales: 182
- Detached: $1,569,133 (-11.22% YoY, -6.92% MoM)
- Semi-detached: $1,075,486 (-5.47% YoY)
- Freehold Townhouse: $1,042,721 (-8.0% YoY, +2.55% MoM)
- Condo Townhouse: $753,914 (-7.32% YoY)
- Condo Apartment: $576,467 (-10.14% YoY, +8.27% MoM)
- Market: buyer’s market conditions
Richmond Hill Home Prices by Type — July 2026
| Home Type | Home Price | Y/Y Change | M/M Change |
|---|---|---|---|
| All Residential | $1,222,748 | -7.77% | -1.55% |
| Detached | $1,569,133 | -11.22% | -6.92% |
| Semi-Detached | $1,075,486 | -5.47% | -2.66% |
| Freehold Townhouse | $1,042,721 | -8% | +2.55% |
| Condo Townhouse | $753,914 | -7.32% | +3.07% |
| Condo Apartment | $576,467 | -10.14% | +8.27% |
Market Metrics — July 2026
| Metric | Value | Year-over-Year Change |
|---|---|---|
| Total Sales | 182 | N/A |
| New Listings | 523 | N/A |
| Average Days on Market | 50 | N/A |
| Sales-to-New-Listings Ratio | 33.1% | N/A |
| Months of Supply | 5.6 | N/A |
| Sale-to-List Price Ratio | 99% | N/A |
Income Required to Buy in Richmond Hill
The table below shows the gross annual household income required to qualify for a mortgage in Richmond Hill, using OSFI stress test guidelines.
Assumptions: 20% down payment, 3.99% contract rate (5.99% qualifying rate), 25-year amortization, GDS ratio of 32%, property tax $354/month, heating $150/month.
| Home Type | Home Price | Mortgage | Income Required |
|---|---|---|---|
| All Residential | $1,222,748 | $978,198 | $254,469 |
| Detached | $1,569,133 | $1,255,306 | $321,203 |
| Semi-Detached | $1,075,486 | $860,389 | $226,099 |
| Freehold Townhouse | $1,042,721 | $834,177 | $219,786 |
| Condo Townhouse | $753,914 | $603,131 | $164,146 |
| Condo Apartment | $576,467 | $461,174 | $129,960 |
Key Trends — Richmond Hill July 2026
Detached Segment Leads the Correction: Detached homes fell 11.22% year-over-year and a further 6.92% month-over-month to $1,569,133, a steeper decline than the composite benchmark’s -6.16% YoY move. Richmond Hill’s detached stock skews toward larger, established homes that are more sensitive to rate-driven affordability pressure.
Condo Apartment Bounces Month-Over-Month Despite Yearly Decline: Condo apartments at $576,467 are down 10.14% year-over-year but rose 8.27% month-over-month, one of the more volatile segments — a pattern also seen in Toronto and Markham’s condo markets this cycle.
Yonge North Subway Extension: The planned extension of TTC Line 1 from Finch Station through North York and into York Region, with a terminus in Richmond Hill, is the city’s single largest long-term transit investment. Properties near the planned Bridge, High Tech, Langstaff, and Richmond Hill Centre stations are attracting forward-looking buyers.
Established Affluent Neighbourhoods: Bayview Hill, Westbrook, and Mill Pond remain among York Region’s most sought-after addresses, sustained by top school catchments and low turnover, which continues to support pricing at the high end even as the broader market softens.
Notable Neighbourhoods in Richmond Hill
Bayview Hill: One of Richmond Hill’s most prestigious neighbourhoods, known for large executive homes, mature tree cover, and excellent school catchments. Detached $1.6M–$2.5M+.
Mill Pond: Historic area surrounding Mill Pond Park in central Richmond Hill. Mix of character homes and newer infill, close to downtown amenities. Detached $1.1M–$1.8M.
Westbrook: Established family neighbourhood south of Major Mackenzie Drive, popular with move-up buyers. Detached $1.2M–$1.7M.
Oak Ridges: North Richmond Hill community bordering the Oak Ridges Moraine, with newer subdivisions and larger lot sizes. Detached $1.1M–$1.6M.
Richvale: Established neighbourhood along the Yonge Street corridor with a mix of bungalows and two-storey homes on larger lots. Detached $1.2M–$1.9M.
Langstaff / High Tech Road: Emerging high-density node near Highway 7 and the future Yonge North Subway Extension corridor. Newer condo and townhouse development. Condos $550k–$750k.
Jefferson: Newer master-planned community in north Richmond Hill near Bond Lake. Family-oriented, detached and townhomes. Detached $1.1M–$1.5M; townhomes $850k–$1.1M.
Ontario Land Transfer Tax — Richmond Hill
Ontario LTT on a $1,222,748 home:
| Portion | Rate | Tax |
|---|---|---|
| First $55,000 | 0.5% | $275 |
| $55,001–$250,000 | 1.0% | $1,950 |
| $250,001–$400,000 | 1.5% | $2,250 |
| $400,001–$1,222,748 | 2.0% | $16,455 |
| Total | ≈ $20,930 |
No municipal land transfer tax applies in Richmond Hill — only the provincial Ontario LTT (Toronto is the only Ontario municipality that levies an additional municipal LTT).
First-time buyers may qualify for the Ontario LTT refund of up to $4,000.
Related Calculators & Tools
- Mortgage Affordability Calculator
- Land Transfer Tax Calculator
- CMHC Mortgage Insurance Calculator
- Toronto Housing Market
- Markham Housing Market
- Ontario Housing Market — provincial overview
- Canada Housing Market — national overview
Data Sources
- Toronto Regional Real Estate Board (TRREB) — July 2026 Market Watch
- Data period: July 1–31, 2026