Richmond Hill is the one large York Region market where prices actually moved this year, and September made that plain. The average sale price fell 10.2% from last September to $1,189,203 and the median fell 10.1% to $1,079,000. Both numbers moving by the same amount means this isn't a mix effect or a thin month at the top. Detached homes, half of everything that sells here, repriced about 11% on both the average and the median across 84 sales. That's a real reset.
And buyers responded to it. Richmond Hill was the only one of the big three municipalities where September sales rose over August, up 6.8% to 172. The sales-to-new-listings ratio reached 33.3%, a twelve-month high, and it hasn't fallen in any month since January. Freehold townhouses closed at 101% of asking. Condo apartment medians went up. Lower prices are doing what lower prices do, and the market underneath the headline is firmer than it was a year ago. The GTA-wide picture is in our September 2026 Market Watch post.
How Did Richmond Hill Real Estate Change Year Over Year in September 2026?
Richmond Hill recorded 172 sales in September 2026, down 8.5% from 188 in September 2025. The average price fell 10.2% to $1,189,203 and the median fell 10.1% to $1,079,000. New listings dropped 10.8% to 584 and active inventory fell 12.9% to 974. The SNLR rose 2.5 points to 33.3%, months of inventory held at 5.6, the sale-to-list ratio slipped a point to 98%, and days on market rose from 33 to 36.
| Metric | September 2025 | September 2026 | Change |
|---|---|---|---|
| Total Sales | 188 | 172 | -8.5% |
| Average Price | $1,324,741 | $1,189,203 | -10.2% |
| Median Price | $1,200,000 | $1,079,000 | -10.1% |
| New Listings | 655 | 584 | -10.8% |
| SNLR | 30.8% | 33.3% | +2.5 pts |
| Active Listings | 1,118 | 974 | -12.9% |
| Months of Inventory | 5.6 | 5.6 | 0.0 |
| Sale-to-List Price Ratio | 99% | 98% | -1 pt |
| Avg Days on Market | 33 | 36 | +3 days |
Source: Toronto Regional Real Estate Board (TRREB) Market Watch, September 2026 and September 2025.
Ten percent on both the average and the median is the cleanest price signal in York Region this month, and it needs one piece of context: last September and October were the top of Richmond Hill's price range. The average hit $1,334,199 in October 2025, the highest reading in the past twelve months, and September 2025 was right behind it. Part of what you're seeing is a comparison against the peak. But only part. The median is $121,000 lower than a year ago and the detached median is down about $193,000. Those are the numbers a Richmond Hill seller has to price against.
At 98% of asking on a $1,079,000 median, buyers closed about $22,000 below list. That's one point lower than last September's 99% and one higher than August's 97%, and within the 96% to 99% band the ratio has held for twelve months. Homes took 36 days to sell, three longer than a year ago but one faster than August. For a market that just repriced by a tenth, that's an orderly pace. Sellers who met the new level sold. The ones who didn't are in the 974 active listings.
Inventory fell faster than sales
Active listings dropped 12.9% year over year while sales dropped 8.5%, and that gap is why the SNLR rose even in a down-sales month. New listings fell 10.8% from last September despite a 30% jump from August. Richmond Hill still carries the most inventory of the big three at 5.6 months, unchanged from a year ago, and that's the structural reason its prices gave more ground than Markham's or Vaughan's. More supply relative to demand for longer means more repricing. It also means the buyers who've been waiting for Richmond Hill to become affordable relative to its neighbours just got their answer.
What Happened by Property Type in Richmond Hill This September?
Detached homes did 84 sales at an average of $1,580,643, down 11.2% from last September, with the median down 11.9% to $1,438,500. That segment is the whole story of Richmond Hill's price decline. Freehold townhouses held better, with the median down 5.9% to $1,020,000 on 31 sales that closed at 101% of asking. Condo apartments were the one segment where the median rose, up 1.8% to $529,250. Condo townhouse volume doubled from 7 sales to 15.
Average Sold Price by Property Type
| Property Type | September 2025 | September 2026 | YoY Change | SP/LP |
|---|---|---|---|---|
| Detached (84 sales) | $1,780,611 | $1,580,643 | -11.2% | 97% |
| Semi-Detached (8 sales) | $1,094,000 | $1,044,875 | -4.5% | 99% |
| Freehold Townhouse (31 sales) | $1,107,736 | $1,068,119 | -3.6% | 101% |
| Condo Townhouse (15 sales) | $831,429 | $717,533 | -13.7% | 99% |
| Condo Apartment (34 sales) | $585,036 | $574,564 | -1.8% | 98% |
Source: TRREB Market Watch, September 2026 and September 2025. Sales counts are September 2026.
Median Sold Price by Property Type
| Property Type | September 2025 | September 2026 | YoY Change | SP/LP |
|---|---|---|---|---|
| Detached (84 sales) | $1,631,900 | $1,438,500 | -11.9% | 97% |
| Semi-Detached (8 sales) | $1,142,500 | $1,000,000 | -12.5% | 99% |
| Freehold Townhouse (31 sales) | $1,084,000 | $1,020,000 | -5.9% | 101% |
| Condo Townhouse (15 sales) | $770,000 | $700,000 | -9.1% | 99% |
| Condo Apartment (34 sales) | $520,000 | $529,250 | +1.8% | 98% |
Source: TRREB Market Watch, September 2026 and September 2025. Sales counts are September 2026.
Eighty-four detached sales with the average and median both down about 11% is as close to a clean price signal as a single month gives you. A year ago the detached median was $1,631,900. Now it's $1,438,500. That's roughly $193,000 off the typical detached home in Richmond Hill, and the homes that sold at the new level went at 97% of asking in 31 days, essentially the same pace as last year. Demand for detached in Mill Pond, Bayview Hill and Jefferson hasn't gone anywhere. The price it clears at has moved down a full step.
Freehold townhouses are the firmest segment in the city right now. Thirty-one sales at 101% of asking means competing offers are back in that bracket, and the median at $1,020,000 is down less than 6% from last year. Richmond Hill townhouses are about $100,000 more than Markham's and $55,000 more than Vaughan's at the median this month, and buyers paid above list anyway. Semi-detached at 8 sales showed a 12.5% median drop, but eight closings is too few to read as a trend. Those homes took 22 days to sell, the fastest segment in the city.
Condo apartments are the quiet outlier. The median rose 1.8% to $529,250 while condo medians fell 11% to 14% in Markham, Vaughan and the region overall. Thirty-four sales at 98% of asking in 46 days is a steady segment, and Richmond Hill condos were already priced below Markham's and Vaughan's a year ago, so there was less room to fall. Condo townhouses went from 7 sales to 15 with the median down 9.1% to $700,000 and 55 days on market, the slowest segment in the city. Buyers came back to stacked towns once the price moved, but they took their time.
What Has Richmond Hill Real Estate Done Over the Past 12 Months?
The average price has ranged from $1,166,816 in February to $1,334,199 in October 2025, and September's $1,189,203 is the third-lowest reading in the window. Sales bottomed at 98 in January and peaked at 230 in June. The SNLR has risen from 28.6% in January to 33.3% in September without a single down month, and months of inventory have fallen from 6.4 to 5.6.
| Month | Average Price | Sales | SNLR | MOI |
|---|---|---|---|---|
| September 2026 | $1,189,203 | 172 | 33.3% | 5.6 |
| August 2026 | $1,205,777 | 161 | 33.1% | 5.6 |
| July 2026 | $1,222,748 | 182 | 33.1% | 5.6 |
| June 2026 | $1,241,949 | 230 | 32.6% | 5.7 |
| May 2026 | $1,209,257 | 224 | 31.3% | 5.9 |
| 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 |
Source: TRREB Market Watch, October 2025 through September 2026.
Richmond Hill started the year with the softest balance of any large York Region market and has added 4.7 points to its SNLR since January, a bigger gain than the region's 4.3. It hasn't had a down month in that stretch, though August was flat. Months of inventory have come down almost a full month over the same period. The ratio is still the lowest of the big three, and 33.3% is well inside buyer's-market territory by TRREB's definition, but the direction has been consistent for eight months.
The price column is where Richmond Hill differs from Markham and Vaughan. Their averages have moved sideways inside a band all year. Richmond Hill's has stepped down from the $1.33 million peak last October to a range between roughly $1.17 million and $1.24 million since February. That's the detached reset showing up in the composite. The sale-to-list ratio has held between 96% and 99% the whole time, so this was a gradual repricing by sellers meeting the market rather than a wave of discounted closings. The result is a city that's about 10% cheaper than it was a year ago and absorbing inventory faster than it was.
How Did Richmond Hill's September Compare to August 2026?
Sales rose 6.8% from August's 161 to 172. The average price slipped 1.4% to $1,189,203 while the median edged up 0.9% to $1,079,000. New listings jumped 30.1% to 584 and active inventory rose 4.4% to 974. The SNLR added 0.2 points to 33.3%, months of inventory held at 5.6, the sale-to-list ratio rose a point to 98%, and days on market fell by one to 36.
| Metric | August 2026 | September 2026 | Change |
|---|---|---|---|
| Total Sales | 161 | 172 | +6.8% |
| Average Price | $1,205,777 | $1,189,203 | -1.4% |
| Median Price | $1,068,888 | $1,079,000 | +0.9% |
| New Listings | 449 | 584 | +30.1% |
| SNLR | 33.1% | 33.3% | +0.2 pts |
| Active Listings | 933 | 974 | +4.4% |
| Months of Inventory | 5.6 | 5.6 | 0.0 |
| Sale-to-List Price Ratio | 97% | 98% | +1 pt |
| Avg Days on Market | 37 | 36 | -1 day |
Source: TRREB Market Watch, September 2026 and August 2026.
September sales rising over August is unusual this year. York Region as a whole fell 8%, Markham fell 13%, Vaughan fell 12%, and Richmond Hill rose almost 7%. The listing wave was as large here as anywhere, 30% more new listings than August, and buyers absorbed enough of it to nudge the SNLR up and shave a day off the time to sell. The median rising slightly while the average dipped says the mix tilted a little toward mid-range homes, which fits a month where townhouses were the most competitive segment.
The sale-to-list ratio improving from 97% to 98% in a month when inventory rose is a small but useful signal. It means the listings that came to market in September were priced closer to where buyers were willing to pay. After a year of repricing, Richmond Hill sellers seem to have found the level.
What This Means Heading into October 2026
What should Richmond Hill sellers do right now?
The hardest part of selling in Richmond Hill right now is accepting the comparables. If you bought or last appraised in 2025, your detached home is worth about 11% less than that number today, and no amount of staging changes it. The good news is that homes priced to the current level are selling: 172 sales in September, up from August, at 98% of asking in 36 days. Townhouses are drawing competing offers. If you price a detached home against the past 60 days of sales in your neighbourhood, you'll likely sell within five to six weeks. If you price it against your 2025 expectation, you'll join the inventory. There's no middle path in a market that just repriced, and the sellers who are winning in Richmond Hill this fall are the ones who moved first.
Is this a good time to buy in Richmond Hill?
This is the best entry point Richmond Hill has offered in this cycle. The median is $121,000 below last September, detached is down about $193,000 at the median, and you still have 5.6 months of inventory, 974 active listings and a 98% ratio to work with. Conditional offers with inspections are normal here in a way they no longer are in Markham. Detached in Oak Ridges, Jefferson and the Rouge Woods area has repriced the most and has the deepest selection. Two cautions. Townhouses are competitive, at 101% of asking, so don't expect to negotiate there. And the SNLR hasn't had a down month since January. Richmond Hill is still the softest of the big three, but it's firming, and the gap between its prices and its neighbours' is the kind of thing that closes once buyers notice it.
What to watch in October 2026
First, the detached median. It's $1,438,500 now, and whether October holds that level or drifts lower tells you whether the 11% reset is complete or still in progress. Second, sales against last October's 175. September's 172 was within 16 of last year's count, a smaller decline than Vaughan's or the region's. If October matches or beats 175, Richmond Hill's lower prices have fully re-engaged buyers. Third, the SNLR. At 33.3% it's a twelve-month high but still about seven points below Markham. If it crosses 35% by November, the softest big-three market will have closed most of the gap in a single year.
Thinking About Making a Move in Richmond Hill?
Whether you're in Mill Pond, Oak Ridges, Bayview Hill, Jefferson or anywhere else in Richmond Hill, our team watches these numbers street by street and can tell you what this month's reset means for your specific home or your search.Ā
Shawn Zigelstein, Broker
Team Zold, Royal LePage Signature Realty
š (416) 855-5525
š www.teamzold.com