Burlington real estate market

October 2018 STATs for Burlington

In the chart above, Residential Market Activity, we can see the overall sales compared to this time last year. There were 266 sales for the month of October. And we can see that the average cost of a home in Burlington has gone up and average sale price increased by 5.9%.

 

The Average Residential Price by District graph indicates to us that Burlington is doing well from the escarpment to the bay. You’re also able to see the average cost of a home for the month. And we can see that for October area 35 remains very hot.

 

The chart above, Hamilton-Burlington Residential Marketing Activity, includes area 35, are the neighbourhoods of Millcroft and Headen Forest. We can see the sales activity was 1,035 for the month of October.

RAHB reported 1,035 sales of residential properties. We find that for the month of October, The Sales to New Listing Ratio was 60.1% – indicating that the overall residential market for the RAHB area is in a balanced position.

With a Sales to Listing Price Ratio of 98.2%, we’re able to see that Burlington continues to do very well. Millcroft and Headen Forest continue to stay consistent and the average time a home is on the market at 31.6%.

“The single family market in the overall RAHB area remains in a balanced position, with a good inventory of homes for those looking for a detached property.” – RAHB CEO George O’Neill

For more information, please refer to RAHB’s Residential Market and MLS Home Price Index Report for October 2018. 

If you’re thinking of selling your home please make sure you contact us. We are ready to help you find the home you’ve been searching for.

 

2018 March Real Estate Activity Stats for Burlington, ON

The REALTORS® Association of Hamilton-Burlington (RAHB) has released their stats for March 2018 and there were 1099 sales processed, which is showing that sales for all property types combined (residential, condo, commercial) were 38.6% lower compared to previous year period and 18% lower compared to 10-year average for the month. Average sales price was 14.8% lower and there were 13.5% less listings.

“Our area experienced similar cooling off as is being reported by other real estate markets in the Golden Horseshoe area,” said RAHB CEO George O’Neill. “Local sales were lower not only compared to March of last year, but also compared to the 10-year average for March.”

“This is the first time in awhile that we’ve seen the average sale price lower than the same month the previous year for both freehold and condominium properties,” added O’Neill. “The condominium market is experiencing less of a drop – not even two per cent – and in fact, the median sale price is still almost one per cent above where it was last year.”

“For the general downward trend in the numbers comparing March 2018 to March of 2017, we have to keep sight of the bigger picture,” noted O’Neill. “The sales-to-new-listings ratio is still at 60 per cent for the residential market, which is generally considered the line between a balanced market and a seller’s market. In addition, the average days on market is at a comfortable level, providing buyers and sellers time to make informed decisions.”

RAHB March 2018 Stats 1
RAHB March 2018 Stats 2
RAHB March 2018 Stats 3

For a complete report please visit http://www.rahb.ca/2018/04/rahb-realtors-release-march-statistics/

Looking to sell your home? Or buy a first time home, or move up, or downsize? Let Lori VanDinther, RE/MAX Sales Representative guide you through the process and help you make the right moves. With over 23+ years of successfully selling real estate in Burlington/Hamilton area, Lori has the experience and market knowledge. Contact Lori today.

Market Turnaround in 2017

When looking at all property types in Hamilton-Burlington in 2017, compared to 2016 there were 5.9% less home sales, however the total dollar volume reached a new high of $8,972 billion (a 14.4% increase). Listings were up 15.4%, average days on market were 10% less. Which basically means this, we had more homes being listed, sales dropped a bit, but the homes that got sold were going quicker, and for a higher prices.

“The real estate market in 2017 was notable for the abrupt change through the spring,” noted RAHB CEO George O’Neill. “The market went from a strong, prolonged seller’s market, where the average time to sell a property was 14 days, to a more balanced market where buyers had more time to view and compare properties before putting in an offer to purchase.”

Each of the first four months of year had record sales for those months,” added O’Neill. “At the time, there were few listings on the market, with less than a month of inventory. In April, however, we saw the first glimpse of a turnaround, when we had more listings than average come onto the market. That did not translate into immediate relief for the market, as we still had record sales for the month. It was after that point we began to see higher-than-average new listings and lower-than-average sales.”

2017 RAHB year end stats page 1 2017 RAHB year end stats page 2

You can download RAHB year end stats report here.

Looking to sell your home? Or buy a first time home, or move up, or downsize? Let Lori VanDinther, RE/MAX Sales Representative guide you through the process and help you make the right moves. With over 23+ years of successfully selling real estate in Burlington/Hamilton area, Lori has the experience and market knowledge. Contact Lori today.