May 2019 Statistics Provided by RAHB
The statistics for the Burlington real estate market are here and we can see that the spring market has been a busy one. With sales that have increased to double digits and a 30.2% increase over March 2019 and the cost of homes remaining steady with only a small increase.
Our blog summarizes the RAHB market statistics so that you can see how much a property was in your neighbourhood and what the sales were like. Below is the first chart, Residential Market Activity, comparing May 2019 and May 2018 for Burlington and the surrounding areas.
Residential Market Activity for RAHB Areas
For the month of May 2019 Burlington had a total of 337 sales indicating that May 2019 was a strong month for Burlington. We can see these numbers in the above chart, Residential Market Activity. Overall the numbers mean that Burlington has remained steady
We can look deeper into the costs of properties by area when we look at the map below, The Average Residential Price by District. The average cost of a property in Burlington however was $733,410, only a slight difference compared to the same time last year.
The Average Residential Price by District
When we take a look at the map, The Average Residential Price by District, we can see that it indicates how each neighbourhood did in terms of both sales of residential properties and the average cost of a home.
The neighbourhood with the highest amount of sales was Millcroft, which is no surprise as it is one of the most sought after areas. The area with the highest costing properties was sub area 38 at $1,050,500.
From the Bay to highway #5 it’s clear that Burlington has had a great month. Now let’s take a look at the Burlington Residential Table for a more in-depth look at the numbers.
Burlington Residential Table
Lets look at the above chart, Burlington Residential Table, to better understand the statistics for May 2019. There was a total of 529 new listings with an average cost of a property of $733,410. The chart is also indicating to us that a property in Burlington had an average of 25 days on the market.
RAHB Statistics for May 2019
There was a reported 1,344 sales of residential properties in the RAHB market area. May saw a 10.9% increase from May last year, 9.6% increase over April 2019 and a 30.2% increase over March 2019. RAHB also reported that the average price of a residential property increased by 6.9% from May 2018 to $533,702.
“The number of sales increased double digest over last year and the number of new listings decreased by 5.2%, indicating that we are in the thick of a busy spring market for sellers. And prices only increasing an average of 0.9% over last year means buyers haven’t watched prices soar while they find the perfect home.” RAHB President Bob Van de Vrande.
For More Information
If you would like to learn more about the report, please refer to the press release provided by RAHB.
Have you been thinking about selling your home? Contact Lori and she can provide more knowledge about the latest market and work with you to find your dream home. And if you want to know what your home is work, please try Lori’s, What’s My Home Worth calculator.