Richmond Hill in September 2026
Richmond Hill recorded 172 home sales in September 2026 on 584 new listings, an average sale price of $1,189,203, and a median price of $1,079,000, according to TRREB’s Market Watch report. Active listings stood at 974, giving the city 5.6 months of inventory on a trend basis and a sales-to-new-listings ratio (trend) of 33.3%. Homes sold at an average of 98% of list price after 36 days on market. The MLS® HPI composite benchmark was $1,157,700, 6.33% lower than a year ago.
Richmond Hill was the third-most active York Region municipality by sales volume in September, behind Markham (245 sales) and Vaughan (213 sales), out of York Region’s total of 893 sales across Aurora, East Gwillimbury, Georgina, King, Markham, Newmarket, Richmond Hill, Vaughan, and Stouffville.
Source: Toronto Regional Real Estate Board (TRREB), Market Watch, September 2026.
MLS® HPI Benchmark Prices
The MLS® Home Price Index (HPI) tracks a "typical" home in each category and is less distorted by high-end outlier sales than the average price. Every Richmond Hill property category posted a year-over-year decline in September 2026, led by the apartment segment.
| Property Type | HPI Benchmark | Index | YoY Change |
|---|---|---|---|
| Composite (All Types) | $1,157,700 | 293.1 | ▼ 6.33% |
| Single-Family Detached | $1,514,400 | 308.6 | ▼ 6.51% |
| Single-Family Attached | $1,011,800 | 312.0 | ▼ 4.62% |
| Townhouse | $781,200 | 312.2 | ▼ 4.96% |
| Apartment | $493,000 | 252.4 | ▼ 12.27% |
Source: Toronto Regional Real Estate Board (TRREB), Market Watch, September 2026 — Focus on the MLS® Home Price Index.
By Home Type — September 2026
Detached homes accounted for the largest share of Richmond Hill's dollar volume, while condo apartments led on unit volume among condo-form product. Freehold (Att/Row/Townhouse) and condo townhouses are tracked separately by TRREB and are kept distinct below — they are different ownership structures with very different price points.
| Property Type | Sales | Avg. Price | Median Price | Active Listings | Avg. SP/LP |
|---|---|---|---|---|---|
| Detached | 84 | $1,580,643 | $1,438,500 | 551 | 97% |
| Semi-Detached | 8 | $1,044,875 | $1,000,000 | 25 | 99% |
| Freehold Townhouse (Att/Row) | 31 | $1,068,119 | $1,020,000 | 116 | 101% |
| Condo Townhouse | 15 | $717,533 | $700,000 | 67 | 99% |
| Condo Apartment | 34 | $574,564 | $529,250 | 208 | 98% |
Source: Toronto Regional Real Estate Board (TRREB), Market Watch, September 2026 — Summary of Existing Home Transactions by property type.
Supply and Demand Breakdown
Richmond Hill’s months-of-inventory trend of 5.6 sits inside the generally balanced 3–6 month range, while the SNLR trend of 33.3% is comfortably below the 40% balanced threshold, which points to more room for buyer negotiation than in neighbouring Markham or Vaughan. York Region as a whole had an SNLR trend of 35.8% and 5.0 months of inventory, with an average price of $1,136,650 on 893 sales.
What's Driving the Market
Interest rates: TRREB reported the Bank of Canada overnight rate at 2.3% and the prime rate at 4.5% for September 2026, with average contract mortgage rates of 5.49% (1-year), 6.05% (3-year), and 6.09% (5-year) across TRREB’s member lenders. Buyers should confirm live rates directly — see Nordaux’s rate comparison for current lender offers, which differ from TRREB’s reported averages.
Regional economy: Toronto-area (CMA) employment grew 1.7% year over year in August 2026 while the seasonally adjusted unemployment rate was 6.8%. Year-over-year CPI inflation was 3.0% in August 2026, and Q2 2026 real GDP growth was 3.3% (annualized). These GTA-wide indicators are published by TRREB, sourced from Statistics Canada and the Bank of Canada.
New listings pullback: Across the GTA, new listings fell 14.4% year over year in September 2026 to 16,500, while sales fell 9.0% to 5,040. Inventory is shrinking faster than demand, which is the main force keeping the market from tipping further toward buyers, even in Richmond Hill, which shows the softest conditions of the three York Region cities profiled here.
Stress test: Every insured and most uninsured mortgages in Ontario are qualified under OSFI's B-20 stress test. Read our OSFI stress test guide to see how it affects how much home you can carry in Richmond Hill's price range.
Richmond Hill Rents — July 2026
Rentals.ca's city rent data puts Richmond Hill's average asking rent across all unit types at $2,414/month in July 2026, with one-bedroom units averaging $2,022/month, two-bedroom units averaging $2,508/month, and three-bedroom units averaging $3,177/month — the highest of the three York Region cities profiled on this site, consistent with Richmond Hill's higher purchase prices. A year-over-year comparison specific to Richmond Hill was not available in the sources checked, so no YoY change is shown. These figures were surfaced via web search from Rentals.ca's Richmond Hill rental listings page rather than fetched directly from the primary PDF report, so treat them as directionally reliable rather than exact to the dollar.
Source: Rentals.ca. Not independently verified against the primary PDF National Rent Report.
Not sure whether to rent or buy right now in Richmond Hill? Try our Rent vs. Buy Calculator.
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First Time Buying in Richmond Hill?
Ontario adds Land Transfer Tax on top of the purchase price, and first-time buyers have their own set of rules, rebates, and down payment programs to navigate. Our Ontario First-Time Buyer Guide walks through what applies to a purchase in Richmond Hill and the rest of York Region, and the Land Transfer Tax Calculator in the sidebar estimates what you'll owe at closing.