One of the most interesting and important indicators of attractiveness of different neighbourhoods for investment and general family living is a comparison between the community now and how it was in the previous year for the same time period. The following figures come from the Toronto Real Estate Board "Community Housing Market Report York Region: Richmond Hill" for Langstaff.
2nd Quarter 2013
2nd Quarter 2014
Average Home Price
Days On Market
Average Sold Price to Listing Price
From this chart it is easy to see that Home Sales increased slightly by 3 from 99 in 2013 to 102 in 2014. And the Average Home Price has gone up by $73,986 during the same time period with the Dollar Volume up just over $8,937,670. New Listings were up by 22, and Active Listings were up by 34. The Average Days On the Market has come down to 22 from 24, while the Average Sold Price to Listing Price has increased from 98% in 2013 to an amazing 100% in 2014.
Increase / Decrease
Attached / Townshomes
Langstaff is another great Richmond Hill neighbourhood for increasing the value of real estate holdings. Homes sales are up with the greatest increase coming in attached townhomes. However, the greatest number of sales comes from condominium apartments. Overall the inventory of homes for sale has increased. This increased inventory helps keep the home values from rising dramatically, but they are up just the same. The housing market does continue to remain strong compared to other countries, and with an interest rate that remains relatively low, the Langstaff Richmond Hill real estate market should continue to prosper along with other markets in York Region.
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purchase, sale and lease of real estate as part of a cooperative selling system. Canadian Real Estate Association Last Updated: 11/14/2019 11:26:00 PM