Housing Prices

September 2018 STATs for Burlington

The chart above, Residential Market Activity for RAHB Areas, illustrates how much the average price for Burlington has changed and it’s showing us how much each area has changed since last year. We can see that there were a total of 247 sales for the month of September, which is an increase compared to last year.

 

The Average Residential Price by District graph indicates to us that Burlington is doing well from the escarpment to the bay. And that it continues to remain a hot area. You’re also able to see the average cost of a home for the month of September in each area.

The chart above, Residential Marketing Activity, includes area 35, which are the neighbourhoods of Millcroft and Headen Forest. We can see the sales activity was 86 for the month of September, down 2.4% but still up from 2016.

RAHB reported 948 sales of residential properties and a 4.6% increase over the same month last year. And that The Sales to New Listing Ratio was 50.1% – indicating that the overall residential market for the RAHB area is in a balanced position.

With a Sales to Listing Price Ratio of 98.4% we can see that this area of Burlington continues to do well. Millcroft and Headen Forest continue to stay consistent and the average time a home is on the market at 27.8%.

For more in-depth statistics and additional metrics, please refer to RAHB’s Burlington Residential Marketing Report for September 2018. 

And if you’re thinking of selling your home please make sure you contact us. We are ready to help you find what you’ve been dreaming of.

Move-Up Buyers Set To Increase Their Stake In Homeownership

Move-up Buyers Report 2013
Supported by serious upward appreciation over the past decade, value-conscious homebuyers continue to drive demand for move-up product in the Burlington.

Supported by serious upward appreciation over the past decade, value-conscious homebuyers continue to drive demand for move-up product in the Burlington Area. The greatest trade-up activity is occurring between the $450,000 to $600,000 price point in Burlington. Last year, sales in that segment of the market represented 23 per cent (705 units).

The figures are expected to increase this year as more experienced buyers move to take advantage of lower interest rates and equity gains. Average price in Burlington has almost doubled in the past decade, rising from $183,442 in 2002 to $360,059 in 2012, for an annual compounded rate of return of close to 7 per cent.

In Burlington, trade-up purchasers are looking to the northwest quadrant of the city where older homes on larger, well treed lots represent good value. Many move-up buyers are willing to undertake renovations, such as updating kitchens and bathrooms, in order to realize ownership in these established areas. As a result, sales in the northwest were up 86 per cent in 2012, compared to one year earlier. Those willing to spend closer to $600,000 are choosing mid-southeast communities in Burlington, south of the QEW.

Property Value Appreciation in Burlington, Ontario
5 Year 34 % (6.02 % annually)
10 Year 96 % (6.98 % annually)

Offering some of the most affordable housing in Southwestern Ontario, inventory is expected to be tight this spring in Burlington, with under 100 properties currently listed for sale at the move-up price points.

For complete information you can download the Move-up Buyers Report 2013.

Thinking of moving or buying a house in Burlington? I’d be delighted to help you!
As a long time resident of this gorgeous city and a dedicated Burlington RE/MAX Realtor I will put my knowledge and experience to work for you and help you make the right moves.

Moderation On Tap For Canadian Housing Markets in 2013

REMAX Housing Market Outlook 2013
With Canada’s economy showing signs of improvement, the overall outlook for the country’s residential real estate market is healthy!

Canadian real estate markets demonstrated remarkable resilience in 2012—with home sales up or on par in 65 per cent of major centres—despite considerable headwinds in terms of tighter financing and economic uncertainty abroad. The trend is expected to continue, with home-buying activity propped-up by low interest rates and an improved economic picture in 2013, according to a report released today by RE/MAX.

“Despite all the negativity surrounding residential real estate, the sky is not falling,” says Gurinder Sandhu, Executive Vice President and Regional Director, RE/MAX Ontario-Atlantic Canada. “Home sales have moderated, but remain within healthy levels. Greater optimism is expected to return next year, as the economy marks further improvement. Canadians appear to be reigning in their spending, heeding cautionary statements by the country’s financial leaders. We believe that will only serve to shore up the already healthy framework of the Canadian housing market in 2013.”

Summary of key points for Hamilton-Burlington real estate market:

  • Significant GDP growth, expanding at an annual rate of approximately 2.5 per cent, has made Hamilton-Burlington one of the top performing markets in Ontario.
  • Approximately 13,100 homes are expected to change hands by year-end, down six per cent from the city’s record level of 13,932 reported in 2011. Yet, average price is forecast to appreciate seven per cent to $358,000 in 2012, up from $333,498 one year earlier.
  • Seller’s market conditions exist at the starter price points, while a more balanced picture emerges at the mid-level.
  • Condominiums continue to have universal appeal—popular with both first-time buyers and an aging demographic. In Burlington, first-time buyers seeking close proximity to the GTA are gravitating toward entry-level apartments, between 500 sq. ft. and 700 sq. ft. in size. Starting from the low $200,000s, these units have experienced bidding wars throughout much of the year
  • Numerous brownfield projects and developments that are underway are expected to have a positive impact on economic performance in coming years.
  • Manufacturing is also forecast to climb in Hamilton-Burlington, rising by more than four per cent, building on a 3.7 per cent increase in 2011 and an 8.6 per cent increase in 2010. New housing starts are on the upswing, with 2012 levels hovering at more than 25 per cent ahead of last year’s levels.
  • Immigration is also expected to continue to play a role in Hamilton-Burlington, with approximately 3,300 permanent and temporary residents welcomed in 2011.

For the complete report visit: http://www.bestagent.ca/uploadedFiles/BestAgent/Content/News/Press_Releases/2012/REMAX_2013Outlook_RPT.pdf

Interest in buying real estate property in Burlington and surrounding areas? Don’t hesitate to get in touch with me: Lori VanDinther – Burlington Real Estate Agent. I will put my knowledge and experience to use and help you find your dream home!