Burlington Real Estate Market Statistics
The Burlington Real Estate Market Statistics for June 2020 have been provided by The REALTORs Association of Hamilton-Burlington (RAHB). There were a reported 1,304 sales of residential properties within the entire RAHB market area. The good news is that the sales are up by 53% over May 2020 and up 0.2% when compared to June 2019.
Burlington Residential Table – June 2020
In June 2020 the average price of a residential property in Burlington was up by 12% to $872,398, and the median price saw an increase of 8% to $751,000. The median price say an increase of 15% to $810,000. It was also reported that the new listings saw an increase of 7% with a total of 459.
The real estate market has seen some increases in June with a total of 319 sales in the Burlington area. With an average 18.8 days on the market, we can see that sales are moving at a faster rate than they were in May.
Average Residential Price by District
When we look at the above map, Average Price by District, we can how each neighbourhood in Burlington did in terms of the average residential sale price and the number of homes sold at that price. Sub areas to note are; 31, 34 and 35.
The area with the highest average property price was area 4 with the average pice being $1,655,000. Area 35, the neighbourhood of Millcroft had an average price of $788,726 with 97 properties sold in June 2020.
RAHB Statistics for June 2020
In June 2020 the REALTORs Association of Hamilton-Burlington reported that there were a total of 1,304 sales of residential properties. With sales seeing an increase of 53% compared to May 2020. However, there was a 0.2% decrease in sales over June 2019, but the average price of a property saw an increase of 13.7% to $675,223 and up 3% from May 2020.
“With the reopening of the province, and the increased confidence in both the economy and the health of our communities, we are seeing higher activity in both sales and new listings throughout the RAHB market area. Typically, spring is busier than summer; however, COVID-19 seems to have pushed the market back by a few months. “Throughout the pandemic, the average price of residential properties in our market has held steady. If Ontario’s recovery from COVID-19 continues, we shouldn’t see a decrease; however, we are cautious that any relapse or a second wave could slow activity and affect average price.” – 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.