Spring is here, and Richmond Hill's market is showing some interesting signs. Sales volume jumped almost 16% compared to last April, which is a really good sign for activity. But prices have come down, with the average dropping almost 10% year-over-year and the median falling over 13%. So what does that mean for you? Let's look at the numbers.
April 2026 vs April 2025
| Metric | April 2025 | April 2026 | Change |
| Average Price | $1,302,226 | $1,175,275 | -9.8% |
| Median Price | $1,220,000 | $1,055,900 | -13.5% |
| Total Sales | 159 | 184 | +15.7% |
| New Listings | 632 | 634 | +0.3% |
| Active Listings | 1,045 | 1,009 | -3.4% |
| SNLR | 32.1% | 29.7% | -2.4 |
| Average Days on Market | 26 | 34 | +8 days |
| SP/LP | 100% | 97% | -3 |
Source: TRREB Market Watch, April 2026
The average home price dropped from $1,302,226 last April to $1,175,275 this April, a decrease of almost 10%. The median fell even further, down 13.5% from $1,220,000 to $1,055,900. That's a $164,100 drop in the median. When the median is falling faster than the average, it indicates that the middle of the market is where most of the softening is occurring.
And here's the thing. Last April, the SP/LP ratio was sitting at 100%. Sellers were getting their full asking price on average. Now it's down to 97%, which means buyers are negotiating and getting deals done below list price. That's been the trend for a while now, and it's not changing anytime soon.
More Buyers Are Making Moves, But They're Taking Their Time
Sales are up 15.7% year-over-year, from 159 to 184. That's a good number. We've actually had four months in a row of increased sales across the GTA, so people are getting into the market. But homes are taking longer to sell. Average days on market went from 26 last April to 34 this April. Buyers have choice right now. They can look at a property, get a home inspection done, and really learn about every step of what they're getting into. That wasn't the case a year ago.
By Property Type: Average Sold Price
| Property Type | April 2025 | April 2026 | Change |
| Detached | $1,793,480 | $1,767,320 | -1.5% |
| Semi-Detached | $1,163,918 | $1,080,333 | -7.2% |
| Freehold Townhouse | $1,183,141 | $1,048,558 | -11.4% |
| Condo Townhouse | $851,167 | $702,330 | -17.5% |
| Condo Apartment | $635,381 | $545,573 | -14.1% |
By Property Type: Median Sold Price
| Property Type | April 2025 | April 2026 | Change |
| Detached | $1,680,000 | $1,508,000 | -10.2% |
| Semi-Detached | $1,143,500 | $1,117,500 | -2.3% |
| Freehold Townhouse | $1,175,000 | $1,072,500 | -8.7% |
| Condo Townhouse | $818,000 | $688,990 | -15.8% |
| Condo Apartment | $606,680 | $526,500 | -13.2% |
Source: TRREB Market Watch, April 2026
Detached homes have held up the best on average, down just 1.5%. But look at the median for detached, it's down 10.2%, from $1,680,000 to $1,508,000. That gap between the average and the median tells us that a handful of high-end sales are pulling the average up, while the typical detached home has come down significantly.
Condo townhouses took the biggest hit again this month, with the average price falling 17.5% year over year. If you've been looking at that segment, there are real opportunities right now. Same story with condo apartments, down 14.1% on average and 13.2% on the median.
Richmond Hill Price Trend Over The Past 14 Months
| Month | Average Price | Sales | SNLR | MOI |
| April 2026 | $1,175,275 | 184 | 29.7% | 6.2 |
| March 2026 | $1,219,863 | 159 | 29.3% | 6.3 |
| February 2026 | $1,166,816 | 121 | 28.7% | 6.4 |
| January 2026 | $1,285,799 | 98 | 28.6% | 6.4 |
| December 2025 | $1,220,811 | 114 | 28.6% | 6.3 |
| November 2025 | $1,255,877 | 163 | 29.7% | 6.0 |
| October 2025 | $1,334,199 | 175 | 29.9% | 5.8 |
| September 2025 | $1,324,741 | 188 | 30.8% | 5.6 |
| August 2025 | $1,247,531 | 176 | 30.3% | 5.6 |
| July 2025 | $1,325,820 | 204 | 30.4% | 5.5 |
| June 2025 | $1,313,482 | 174 | 30.4% | 5.4 |
| May 2025 | $1,478,294 | 152 | 30.4% | 5.3 |
| April 2025 | $1,302,226 | 159 | 32.1% | 4.9 |
| March 2025 | $1,214,567 | 146 | 32.8% | 4.7 |
The average price peaked in May 2025 at $1,478,294. Since then, it's come down and stayed in the $1.17M to $1.33M range. April 2026 at $1,175,275 is actually the second-lowest point in this 14-month window, just above February's $1,166,816.
SP/LP has been below 100% since August 2025. That's nine months straight in which sellers have accepted offers below their asking price, on average. The ratio dropped to 96% in December and January, climbed back to 98% in March, and now sits at 97% in April. For buyers, this remains a good opportunity to negotiate on price.
March 2026 vs April 2026
| Metric | March 2026 | April 2026 | Change |
| Average Price | $1,219,863 | $1,175,275 | -3.7% |
| Median Price | $1,120,000 | $1,055,900 | -5.7% |
| Total Sales | 159 | 184 | +15.7% |
| New Listings | 533 | 634 | +18.9% |
| Active Listings | 848 | 1,009 | +19.0% |
| SNLR | 29.3% | 29.7% | +0.4 |
| Average Days on Market | 30 | 34 | +4 days |
| SP/LP | 98% | 97% | -1 |
Month over month, sales volume was up almost 16% from March to April. That lines up with what we're seeing across York Region, where Aurora jumped 66.7% month over month, and Newmarket was up 33%. The spring market is definitely here. But more listings also came in, up almost 19%, which kept the SNLR basically flat at 29.7%. Prices dipped slightly from March, with the average down 3.7% and the median down 5.7%. So we have more buyers and more sellers both showing up, which is keeping things balanced in favour of buyers for now.
For a full breakdown of the March numbers, check out our Richmond Hill March 2026 Market Update
What This Means Heading into May
For Sellers:
The market is getting busier. Sales volume is up from both last month and last year, and the SNLR ticked up slightly from 29.3% to 29.7%. That's a small move, but it's moving in the right direction. The key for sellers right now is pricing. With SP/LP at 97%, homes that are priced right are selling. Homes that are overpriced are sitting. If you price at market value, you're going to attract serious buyers.
For Buyers:
This is still a really good time to be looking. With 6.2 months of inventory and an SNLR of 29.7%, you have a choice. You're not competing on offers in most cases. You can get into a property, examine it, get a home inspection done, and really take the time to make sure it's the right fit for you and your family. Prices are down across all property types from last year. If you've been sitting on the sidelines, the opportunity is there.
What to Watch in May:
May and June are typically the busiest months in the GTA real estate market. If the SNLR pushes above 30% and months of inventory drop below 6, that would signal the market is shifting toward balance. If the numbers hold where they are, the buyer's market will continue through the summer. The fact that sales are up four months in a row is encouraging, but with new listings also increasing, we're not seeing the kind of tightening that would push prices higher.