Sales Are Up, Prices Are Down — A Rare Combination
The condo apartment segment stood out in TRREB’s June 2026 Market Watch report. GTA-wide condo apartment sales rose 14.3 per cent year-over-year, even as the average condo apartment price came in at $630,688 — down 9.5 per cent compared to June 2025. That’s a meaningfully larger price decline than the overall GTA average of -3.9 per cent, which tells you condos have adjusted more than detached and semi-detached homes over the past year.
For buyers, that combination — rising activity, softer pricing — is usually a sign that value-conscious buyers are stepping back in ahead of the broader market, rather than a sign of continued weakness.
Why Richmond Hill Condos Specifically
Richmond Hill’s condo stock is concentrated along Yonge Street and near Highway 7, close to VIVA rapid transit and, longer-term, the Yonge North Subway Extension corridor. That transit proximity has historically supported condo values in Richmond Hill better than in some more car-dependent parts of York Region, making it worth watching even during a softer pricing window.
Questions to Ask Before You Buy
- What’s the status certificate say? Reserve fund health and any planned special assessments matter more than the unit finishes.
- What are the maintenance fees covering? Utilities-inclusive buildings carry higher fees but can be more predictable month to month.
- Is the building investor-heavy? A high rental-unit ratio can affect financing options and building culture — worth knowing up front.
Thinking about your next move in Richmond Hill, Markham, or York Region? Contact Ray Azar for a confidential, no-obligation consultation and a current market analysis tailored to your property.