Published 29 September 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty
In August 2026 TRREB recorded 33 condo apartment sales in Richmond Hill at an average of $538,509 and a median of $500,000, with units selling at 95 percent of list price after an average of 47 days. There were 197 active listings, about 6.0 months of supply at that pace, and a sales-to-new-listings ratio of about 35 percent. That made Richmond Hill the softest of York Region’s three big condo markets: the lowest sale-to-list ratio and the longest time on market of Markham, Vaughan and Richmond Hill. Buyers are negotiating harder, so pricing from recent sales of your layout matters more here than almost anywhere in the region. Richmond Hill has no municipal land transfer tax, which saves your buyer $6,475 at $500,000 compared with Toronto.
Richmond Hill condo prices, August 2026
| Condo apartments, August 2026 | Sales | Average | Median | New listings | Active listings | Sale to list | Avg. days on market |
|---|---|---|---|---|---|---|---|
| Richmond Hill | 33 | $538,509 | $500,000 | 94 | 197 | 95% | 47 |
| York Region | 170 | $601,251 | $538,500 | 507 | 1,098 | 97% | 44 |
| Markham | 57 | $638,332 | $563,800 | 181 | 356 | 97% | 40 |
| Vaughan | 63 | $607,650 | $525,000 | 193 | 431 | 96% | 41 |
| Aurora (6 sales only) | 6 | $518,833 | $499,000 | 14 | 32 | 97% | 69 |
| City of Toronto | 885 | $651,648 | $550,000 | 2,303 | 4,938 | 96% | 39 |
| All TRREB areas | 1,330 | $617,593 | $530,000 | 3,579 | 7,882 | 96% | 41 |
Source: TRREB Market Watch, August 2026. One month of data, and 33 sales is a small sample. The average was only $38,509 above the median, narrower than Markham’s or Vaughan’s, so the $500,000 median is a fair anchor.
Why Richmond Hill looked the softest in York Region
Two numbers stand out. Richmond Hill’s 95 percent sale-to-list ratio was the lowest of the York Region municipalities in the table: Markham and Aurora were at 97, Vaughan at 96, and York Region as a whole at 97. And its 47 days on market was the longest of the three big condo markets, against 40 in Markham and 41 in Vaughan. Only Aurora took longer, at 69 days, and that was on six sales.
In dollars, 95 percent is roughly $25,000 below a $500,000 final list price (arithmetic), and “final” already includes any reductions.
Supply was not the problem: 6.0 months of inventory was a little lower than Markham’s 6.2, Vaughan’s 6.8 and York Region’s 6.5, and the 35 percent sales-to-new-listings ratio slightly better. The weakness was negotiation and time. Richmond Hill’s $500,000 median was also the lowest of the three, $50,000 below Toronto’s.
What the numbers mean for your list price
When buyers negotiate about five percent off and take seven weeks, starting too high costs more than usual: fewer early showings, a drift past 47 days, then lower offers. Price close to recent sales of your layout from day one and leave sensible room to negotiate.
Know what your buyer is comparing. Down Yonge Street, district C14 (Willowdale East and Newtonbrook East, around Yonge and Sheppard and Yonge and Finch) recorded a $532,500 median in August, selling at 96 percent of list after 40 days. You compete with those units, and with Markham and Vaughan.
The Yonge Street corridor and Highway 7
Most of Richmond Hill’s condo apartments sit along two corridors, and buyers treat them differently:
- Yonge Street. Buildings line Yonge from the Toronto border through Richmond Hill Centre toward Major Mackenzie, Elgin Mills and Oak Ridges: older mid- and high-rises with larger units and higher fees, and newer towers with smaller ones. Viva runs along Yonge; buyers ask about the planned Yonge North Subway Extension, but I would not price a unit on it until it runs.
- Highway 7 and Richmond Hill Centre. The Langstaff area at Yonge and Highway 7 and the towers east toward Bayview and Leslie are the newer high-density part of the city, drawing commuters and investors with the 407 and 404, Viva and Langstaff GO. Most recent completions are here, so resale competes with new supply most directly.
A short walk to a Viva stop or GO station widens the pool of buyers, and of tenants for investors.
What moves your unit above or below the median
- Size and layout. Older Yonge buildings offer larger two-bedrooms for downsizers; newer towers are mostly compact one-bedroom-plus-dens, so true two-bedrooms there trade above the median.
- Floor, view and exposure. Higher floors with open views sell for more; units facing Highway 7, the 407 or a construction site sell for less. See what your condo is worth by floor, view and parking.
- Parking. Most buyers here expect it; without it the pool shrinks sharply.
- Building age and fees. Higher fees in older buildings can offset their larger size in a buyer’s eyes, because lenders count half the condo fee against the buyer’s borrowing. See do high maintenance fees lower my condo’s value.
- The corporation. The status certificate, which the corporation must provide within 10 days for up to $100, shows the reserve fund, any special assessment and any litigation. In an older building, buyers’ lawyers read the reserve fund study closely.
- Condition and tenancy. A vacant, well-kept unit sells to everyone; an older kitchen or a tenant narrows the pool.
Competing with new supply
Urbanation counted a record 4,295 completed, unsold new condos across the GTHA in the first quarter of 2026, and developers and assignment sellers compete for your buyers. You cannot outspend a developer on incentives; offer what they cannot: real fee history, a reserve fund study and status certificate to read, and a flexible closing, at a price that looks like value next to the new units.
The land transfer tax point
Richmond Hill has no municipal land transfer tax. A buyer of a $500,000 condo pays $6,475 in Ontario tax, against $12,950 in Toronto. For a buyer choosing between Yonge and Finch and a few minutes north on Yonge, that is cash at closing worth putting in your listing. For the Toronto side of that choice, see how much a condo is worth in North York; for the neighbouring York Region market, see Markham.
How to get an accurate number for your unit
The median is a starting line. Run the estimator below for a range in about a minute, then get a broker price opinion from recent sales of your layout on your corridor, adjusted for floor, view, parking and condition. If nothing in your building has sold lately, see how to price a condo when nothing in your building has sold. If you also own a house, the Richmond Hill home values page covers freehold prices.
Two tools help here: the AI condo value estimator below gives you a range in about a minute, and the net proceeds calculator turns any price into what actually lands in your account.
Where I fit
I sell condos across York Region as well as Toronto, Peel and Halton. For a Richmond Hill unit I price from the sales of your exact layout on your corridor, read the status certificate, and check what the new towers nearby are offering. Run the estimator below, then book a call and I will walk you through the sales that set your price.
Free tool — AI condo value estimator
Condo Valuation
What’s your condo
worth today?
Three quick steps. Condos don’t price like houses — your floor, your view, and whether you own parking move the number more than anything else. This weighs all of them.
Reading recent condo sales…
Estimated market value
—
$0–$0
Most likely $0 · about $0 per square foot
What moved the number
Starting from what comparable units in your area sell for, here’s what your specifics added or subtracted.
Market context
—
—
Two units, same floor plan,
$90,000 apart.
That happens constantly in condos — one has the parking, the right exposure, or a board that keeps the reserve fund healthy. A model can’t see your status certificate. I can.
Frequently asked questions
How much is a condo worth in Richmond Hill in 2026?
In August 2026 Richmond Hill condo apartments sold at a median of $500,000 and an average of $538,509, according to TRREB’s Market Watch. Your unit can sit above or below that depending on layout, floor, parking, fees and which corridor it is on.
How much is a 1 bedroom condo worth in Richmond Hill?
TRREB’s monthly tables do not split prices by bedroom count. Compact one-bedrooms in newer towers usually sit below the $500,000 median; recent sales of the same layout in your building or nearby give the real number.
Why do Richmond Hill condos take longer to sell?
In August 2026 they averaged 47 days on market and sold at 95 percent of list, the slowest and most negotiated of Markham, Vaughan and Richmond Hill. With only 33 sales, a few slow sales can move those numbers.
Are Richmond Hill condo prices going down?
One month of data cannot show a trend. What August 2026 shows is buyers negotiating hard, at 95 percent of list on average, with about 6.0 months of inventory.
Does Richmond Hill have a land transfer tax?
Only Ontario’s: $6,475 on a $500,000 condo, against $12,950 in Toronto.
Is now a good time to sell my condo in Richmond Hill?
If your plans call for it, price close to recent sales from day one; overpriced units sit and sell for less.
Sources
- TRREB — Market Watch, August 2026 — condominium apartment tables by region and municipality
- Urbanation — Standing condo inventory hits record high in Q1 — 4,295 completed, unsold new condos, Q1 2026
- CMHC — Calculating GDS / TDS — 50% of condominium fees counted; 39% / 44% limits
- Condominium Authority of Ontario — Status certificates — 10 days, up to $100, Condominium Act s. 76
- Condominium Authority of Ontario — Reserve funds and reserve fund studies — studies at least every three years
Related reading
- How much is my condo worth in Markham?
- How much is my condo worth in Vaughan?
- How much is my condo worth in North York?
- How much is my condo worth in midtown Toronto?
- Richmond Hill home values
- Why is my condo not selling?
- How much will I walk away with selling my condo?
About the author — Jatin Dua, Toronto and GTA real estate broker
I am Jatin Dua, Broker of Record and co-founder of RE/MAX Quantum Realty Inc., Brokerage, Unit 101, 799 The Queensway, Etobicoke. I work with buyers and sellers across Toronto and the GTA, and I have helped more than 100 families sell their condos. Four-plus years of active GTA transactions and over $100 million in sales volume. Every market figure here comes from TRREB’s published tables and every rule from the regulator or the legislation, so you can check all of it without asking me.
Reach me at connect@jatindua.com or 833-330-1925, or book a call.