Real estate investment

Burlington Real Estate Market Statistics for July 2020

Burlington Real Estate Market Statistics

The Burlington Real Estate Market Statistics for July 2020 have been provided by the REALTORs Association of Hamilton-Burlington (RAHB). In July 2020, there were a reported 1,613 sales of residential properties. Sales were reported to be up by 23.7% compared to the same time last year.

Burlington Residential Table – July 2020

Burlington Real Estate Market Statistics Burlington Residential Table
Burlington Residential Table

In July 2020 there were 394 sales of residential properties in the Burlington real estate market area. That’s an increase of 37% when compared to July 2019. The average property price also saw an increase, which was 15% to $886,782.

The median price of a residential property seeing an increase of 14% to $797,520. The Burlington real estate market saw 491 new listings, an increase of 34%, with the average days on the market seeing a decrease of 10 days.

Average Residential Price by District

Average Residential Price by District

The above map, Average Price by District, illustrates each area in Burlington. Areas to note for July 2020 were 31, 33 and 35, each of these areas had the highest amount of sales. The area with the highest average property price was once again, area 38 with the average pice being $1,674,000.

We should also note area 33, it had an average property price of $1,348,862 and had a total of 48 sales. Area 35, the neighbourhood of Millcroft had an average price of $781,122 with 138 properties sold in July 2020.

RAHB Statistics for July 2020

July 2020 real estate statistics reported that there were a total of 1,613 sales of residential properties. When compared to July 2019, we saw a 27.8% increase and a 23.7% increase when compared to the previous month.

New listings were reported to be up by 15.5% over June 2020 and up 8.8% over last July. It was also reported that the average price of a residential property for the entire RAHB market area was $692,999. Burlington’s average property price was reported to be $886,782 for July 2020.

“As we can see from the data, activity has resumed to pre-COVID-19 levels, and is actually surpassing the levels we would typically see in the summer due to pent-up demand over the last several months. What is also affecting the market – and more specifically the increase in average price – is the low number of active listings. With less available, buyers have limited choice and the market favours sellers.” says RAHB President Kathy Della-Nebbia.

Contact Lori VanDinther and Team Today

There’s a lot going on in the world and we know you might have some questions. If you’re looking for more information about market up dates related to COVID-19, Lori will be happy to help answer those questions as well. Or you might be looking to put your property on the market, please contact Lori and her team and they’ll be happy to help.