Burlington Real Estate Statistics for October 2021

Average Ontario Home Prices 

It was recently reported that the average price of a residential property in Ontario in September was $887,290. While the average income for someone living in Ontario was reported to be $55,500, meaning that the average price of a residential property is 16x the average income. 

Ontario is the most populated province in Canada, with the majority of the population living in the south. It was also reported that the most affordable properties are located to the north, such as Thunder Bay and Sudbury. You can learn more about other provinces and their average residential property price by reading an article provided by the Canadian Real Estate Magazine.

Burlington is located in the southern part of Ontario and the REALTORS® Association of Hamilton-Burlington recently released their October statistics. In this article we’re going to review some of those statistics and the Burlington area did in terms of sales, average price of a residential property and more. 

The REALTORS® Association of Hamilton-Burlington 

The REALTORS® Association of Hamilton-Burlington (RAHB) reported a total of 1,329 sales of residential properties within the RAHB market area for October 2021. Sales saw an eight per cent increase when compared to September 2021. However, new listing were reported to be down by 18 per cent compared to the same time last year. 

The average price of a residential property in the entire RAHB market area was reported to be $922,279, this was a five per cent increase compared to September 2021. This was also a 27 per cent increase when compared to October 2020. 

The above chart, Burlington Residential Table, shows us the overall October 2021 Burlington Real Estate Statistics. It was reported that the average price of a residential property was $1,148,587. This was a 28 per cent increase when compared to the same time last year. 

When it came to the sales activity, there was a total of 246 sales of residential properties in October 2021. This was a 33 per cent decrease compared to the same time last year. When it came to the number of new listings, there were 264 in October, this was a 37 per cent decrease compared to the same time last year.

Finally, when we look at the median price of a residential property, we can see that there an increase of 31 per cent to $1,049,500. We can now take a look a the map below and get an even close look at each neighbourhood in Burlington. 

Average Price by District in October 2021 

The above map, Average Price by District, illustrates to us how each neighbourhood in Burlington did in terms of sales and what the average price was. The sub areas that we need to take note of for October were; 30,31, 32 and 35. Each of these areas had the greatest number of sale in Burlington in October 2021. 

According to the Burlington Real Estate Statistics, the area that had the greatest number of sales was area 35, located in the sought after neighbourhood of Millcroft. There were a total of 70 sales in October, the average price of a residential property in this area was $1,011,755. The highest average residential property price was area 38, the average cost of a property in this area was $3,172,500. 

October 2021 Real Estate Statistics for RAHB Market Area

It was reported that single family detached properties continue to be the most competitive type of property. The average price of a detached property reached a new record of $1,000,000. This was reported right across the RAHB market area.

Townhouses in the RAHB market area had an eight per cent increase in sales when compared to September 2021. With new listings for townhouse reported to be down seven per cent with the average property price of $756,684.

Sales of apartment-style properties had decrease of one per cent, with new listings seeing an 11 per cent decrease compared to September 2021. The average price of an apartment-style property was $600,912. That’s a four per cent decrease when compared to the previous month.

“Following September’s momentum, October posted a new average sale price record for residential properties. The number of sales are down significantly from last October’s highs and up slightly from the typical activity we usually experience in October. The level of active listings and months of inventory available remains concerning as demand continues to drive the market. We do not anticipate this to change as 2021 comes to a close.” – RAHB President Donna Bacher.”

Contact Lori VanDinther and Team Today

If you want to learn more about the October real estate statistics you can learn more by visiting the REALTORS® Association of Hamilton-Burlington website. They have a full report and more charts and in-depth reports.

If you have any questions or concerns my team and I are here to answer them for you. We love connecting with our clients, our goal is to help you find the home of your dreams in Burlington, Ontario and surrounding areas. Please feel free to contact me either by email or phone and I’ll do my best to help you! Myself and my team look forward to working with you!