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64 Bond Cres, Oak Ridges, Richmond Hill, Ontario L4E 3K5
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108 Lawrence Ave, Crosby, Richmond Hill, Ontario L4C 1Z3
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60 Albright Cres, Jefferson, Richmond Hill, Ontario L4E 4Z4
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172 Milos Rd, Jefferson, Richmond Hill, Ontario L4E 0M8
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2 Bridgeford St, Mill Pond, Richmond Hill, Ontario L4C 3V6
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147 Stephenson Cres, Crosby, Richmond Hill, Ontario L4C 5T3
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18 Mansard Dr, Jefferson, Richmond Hill, Ontario L4E 0L7
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47 Don Head Village Blvd, North Richvale, Richmond Hill, Ontario L4C 7M7
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168 Springhead Gdns, North Richvale, Richmond Hill, Ontario L4C 5C6
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46 Addison St, North Richvale, Richmond Hill, Ontario L4C 7M1
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11 Law Cres, North Richvale, Richmond Hill, Ontario L4C 5K7
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303 Wenlock Ave, Harding, Richmond Hill, Ontario L4C1M6
Frequently Asked Questions
Homes for Sale in Richmond Hill: A Wide Range of Options to Suit Your Needs
If you’re in the market for a new home in the Richmond Hill area, you’re in luck. There is a wide variety of homes for sale in this beautiful city, ranging from cozy starter homes to luxurious mansions. No matter what your budget or preferences, you’ll be able to find a home that suits your needs.
One of the great things about Richmond Hill is its location. It’s just a short drive from Toronto, but it offers a more laid-back, suburban feel. This makes it a great place to raise a family, or to just enjoy a more relaxed pace of life.
The homes for sale in Richmond Hill are just as diverse as the city itself. You’ll find everything from charming colonial-style houses to modern apartments. There are also plenty of options for those looking for a little more land, with many homes featuring large yards and even swimming pools.
If you’re looking for a home with plenty of space, you’ll definitely want to check out the homes for sale in Richmond Hill. Many of the homes in this city feature large bedrooms, spacious living rooms, and plenty of storage space. You’ll also find plenty of homes with top-of-the-line finishes, such as granite countertops and stainless steel appliances.
In addition to its wide range of homes, Richmond Hill also offers a wide range of prices. Whether you’re looking for a starter home or a luxurious mansion, you’ll be able to find something that fits your budget.
So if you’re in the market for a new home in the Richmond Hill area, be sure to check out the many homes for sale. With its wide range of options and affordable prices, you’re sure to find the perfect home for you and your family.
Buying Real Estate in Toronto
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Everything about Richmond Hill
Richmond Hill, with the motto of “a little north a little nicer” is known as one of Canada’s fastest-growing communities. It is a suburb north of Toronto, Ontario that is famous for its stable economy and landmarks, located around 20 kilometers north of the city of Toronto.
Richmond Hill has blossomed since the early 1990s, becoming one of Canada’s most prosperous cities. There are many subdivisions and condo communities that make up Richmond Hill.
There are a number of private schools in Richmond Hill, the public school system is also excellent. Students are from diverse backgrounds which leads to one of the best aspects of Richmond Hill: the combination of various cultural communities that live side-by-side.
Life in Richmond Hill
Considered as one of the best Canadian cities, Richmond Hill is occupied by over 200,000 residents. It is a thriving economy with high living standards and employment rate.
Since the city is small, it only occupies 100 square kilometers of land and the districts are not clearly define. It is home to over 20 neighborhoods which are all remarkable, a cultural hub for people from all walks of life, speaking more than 126 languages. Being in the heart of the GTA, it has easy access to major transportation systems. Let’s take a brief look at the most famous areas:
Yonge Street is one of the fastest growing and busiest streets in the city of Richmond Hill. It occupies a section of the old downtown area which has a combination of old and new houses and is a major transit hub thanks to the Go Train service which connects commuters to Toronto’s downtown Union Station.
Oak Ridges is also an excellent neighborhood in the city that is located on the northern end of Richmond Hill, surrounded by parks and farmlands. Despite its location, the neighborhood continues to expand in terms of infrastructure and population.
Jefferson is a small neighborhood that has become a hotspot for the young families and couples looking to live in a modern setting. Its area is great for all kinds of households, but families are the largest group with a large percentage of young children.
Other famous neighborhoods include East Beaver Creek, Bayview Hill, Windham, Richvale, Hillsview, Mill Pond, Elgin Mills, and many others.
Richmond Hill is a city which is part of the Greater Toronto Area within the province of Ontario. This city is located around 20 kilometers north of the city of Toronto. It currently hosts a total population of roughly 185,500 and occupies 100 square kilometers of land.
This city has been widely considered to be one of the country’s fastest growing communities with respect to population growth, and its economy has also increased over the years.
This seems to fall in line with the town’s motto of “En la rose, je fleuris” (Like the rose, I flourish).
The size of Richmond hill is quite small in area and population has not stopped it from experiencing significant economic growth. With an unemployment rate that stays under 4% and an average household income of roughly $100,000, this city is beating the national and provincial averages for economic metrics by large margins.
Particularly, there has been a very sharp rise in the number of people employed in the manufacturing, business, construction, and wholesale/retail sectors. Almost half of Richmond Hill’s residents earn over $100,000, making it one of the more affluent cities in Ontario. The city’s employment rate is also quite high with almost 67% of the population gainfully employe. Richmond Hill is nestled between the communities of Newmarket, Vaughan, Markham, and Toronto in the southern section of the province. Over 195,000 people reside in the city’s more than 101 square kilometer area. There are many lakes in Richmond Hill, including the larger St. George Lake, Bond Lake, Wilcox Lake, Phillips Lake, Haynes Lake, and Swan Lake, most of which are in the northern area of the city. Several golf courses can also be found in Richmond Hill, as can walking and numerous parks and biking trails.
Richmond Hill Real Estate
Homes that are for sale in Richmond Hill, ON quite vary, with prices ranging from $24,900 to $11,980,000. To buy a house in Richmond Hill, the average market price is $1,354,000 and has a 25% Price difference from last year. Currently, 36 real estate listings in Richmond Hill listed the active average price as $630,276.67 and the highest price as $1,688,000.00. Presently, properties might include Attached Homes, Single Family, For Sale by Owner, Detached Homes, townhomes, Luxury homes, lake homes, bank foreclosures real estate. The highest priced Richmond Hill real estate listing is $1,688,000.00 lowest priced property is $225000 for an average price $630,276.67. Richmond Hill community property types including new listings, single family detached homes, attached, and townhomes.
Houses for sale in Richmond Hill
The asking price of homes that are for sale in Richmond Hill has increased 2.04% since May last year. The number of homes which are for sale has gone down -6.26%.
Richmond Hill has 64 homes for sale at the moment, including 348 houses, 104 townhouses, and 137 condos listed for sale. The average price to buy a house in Richmond Hill is $1.5M, which is 10% higher than May 2021.
Richmond Hill Real Estate Market
Richmond Hill is known as a wealthy city, and housing prices reflect this obviously, with averages ranging from $800,000 to $1,500,000. In the northern section of the city, you may find many high-priced, luxury homes, many of which are on sprawling lots. Office/retail space and vacant land can also be quite expensive, and there are actually few condo options in this section of the city. The central area provides condo options, and a mix of newer and older single-family homes, as well as some commercial space. Plenty of office condos and space can be found in the southern section, as well as expensive single-family homes.
Richmond Hill houses for rent
Most residents that reside in the city own their homes, while 14% live in rentals with an average lease price of $1,116. Richmond Hill’s rate for vacancy has remained almost unchanged for the past couple of years, sitting at or below 2%. Demand normally exceeds supply with such a low vacancy rate, which is indicated in the increase in rent costs over the past couple of years. Most of the newest rental units are apparently in rented condominiums rather than traditional apartment buildings, and these are normally found in the suburban areas. Smaller apartment buildings have had higher vacancy rates compared to larger buildings, and rent costs for larger buildings are often higher. The average costs for rent in Richmond Hill range from $900 for a bachelor apartment to roughly around $1,500 for an apartment with three bedrooms or more. The rent in much newer buildings is often around $200 to $300 more than rent in older buildings, and vacancy rates for older buildings are much higher than those for newer buildings. There are 120 apartments for rent in Richmond Hill, ON to choose from, with prices between $999 and $6,500 per month.
Richmond Hill Real Estate Agents
As of May 10, 2022, the average annual payment for a Real Estate Agent in Ontario is $80,445 a year. Just in case you need a simple calculator to calculate the salary, that works out to be approximately $38.68 an hour. This equals $1,547/week or $6,704/month.
While salaries are seen as high as $150,000 and as low as $12,500, the majority of Real Estate Agent salaries presently range between $52,000 (25th percentile) to $100,000 (75th percentile) with great earners (90th percentile) gaining $109,000 annually in Ontario.
The average salary of a Real Estate Agent varies greatly (as much as $48,000), which suggests there might be a lot of opportunities for advancement and increased pay based on skill level, years of experience and location.
Any Realtor that you decide to use should have knowledge of the area in which you’re buying and/or selling. This isn’t only about market stats, as these can be found from almost any location. Neighborhood trends, zoning by-laws, future development, family services, local activities, personal interests, etc. are much more difficult to determine from afar, whereas local Realtors will likely be geared with this information or know where to access it easily.
Entertainment
Lots of annual festivals, concerts and parades are available for the entertainment and leisure in the community. Add to this the community spots, recreational centers, and heritage centers, as well as golf clubs, all of which are accessible to the public.
The Town of Richmond Hill has 6 public swimming pools which includes an indoor wave pool. A concert series called “Concerts in the Park” with specific themes takes place every summer. These concerts are mainly held at Mill Pond Park, and some at Richmond Green Park. A museum showcasing the town’s history is open to the public at The Richmond Hill Heritage Centre.
Richmond Hill was awarded the National Communities in Bloom award in 2003. Richmond Hill Centre for the Performing Arts was opened in 2009.
Buying Property in Richmond Hill
Richmond Hill is a valuable investment market, expected to rise by 14.4% each year. Right now the property demand is on the rise due to the population growth and expanding job market.
From row houses to apartments and luxurious homes, the value of properties continues to increase with median prices ranging from $5,805 to $8,515/sqm. Apartments mostly rent for $1,240 to $2,070/month, and in the outskirts, prices range from $1,100 to $1,670/month, so investors can expect lifetime earnings.
Apartment Price
| Price per Square Meter to Buy Apartment in City Centre |
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| Price per Square Meter to Buy Apartment Outside of Centre | $8,072.93 CAD |
Residents in Richmond Hill pay property taxes on all homes types. When purchasing a home, you get informed about the costs. There is no municipal land transfer tax in effect in Richmond Hill, but the provincial land transfer tax applies to all purchases.
Ontario Land Transfer Tax Rates
| Purchase Price | Rate |
| $0 – $55,000 | 0.5% |
| $55,000.01 – $250,000 | 1.0% |
| $250,000.01 – $400,000 | 1.5% |
| $400,000.01 – $2,000,000 | 2.0% |
| $2,000,000+ | 2.5% |
Demographics
As mentioned above, the city has a population of over 200,000 people. Chinese families are the top minority group, forming 30% of the total population, followed by Iranian families -11%- and Italians -10%.
Public Transportation: Roads and Transit
Richmond Hill has easy access to Ontario’s road network. Highway 404 is the major highway which leads directly into the core of Toronto. Highway 404 intersects with Highway 401 which is the principal east-west route in the Greater Toronto Area.
The transportation within Richmond Hill is provided by York Region Transit (YRT) and GO Transit. The commuter train service is also provided by GO Transit on the Richmond Hill line with two stations in the city. Residents can easily travel to Toronto by taking YRT bus.
Retail
Lots of shopping centers are available throughout Richmond Hill. The largest and most popular mall within the city is the Hillcrest Shopping Centre, providing a huge range of products. Smaller shopping options in Richmond Hill include Times Square Richmond Hill, Richmond Heights, and Richlane Mall.
Healthcare
Richmond Hill is home to a variety of health companies that are using cutting-edge technologies to bring better healthcare to Canadians. Mackenzie Hospital is the main center where residents get healthcare services from. Examples of health companies in Richmond Hill are Amico, Apotex, Olympus Canada, and Pro-Lab Diagnostics. In addition, lots of family physicians and Specialists perform their practice in the city of Richmond Hill, making it convenient for residence to ensure their health and safety at all times.
Parks
Richmond Hill has over 200 parks operated by its Parks, Recreation, and Culture department. Free live music and amazing carnivals are often taking place during the year, especially in summer.
One nice thing about life in Richmond Hill is the abundance of green spaces. These green spaces are available in almost every neighbourhood where you can enjoy hiking, outdoor sports, cycling or picnics. Some of these parks include Briar Nine Park and Reserve, French Royalist Park, Hunter’s Point Wildlife Park, Mill Pond Park, Richmond Green and many more.