real estate trends

Burlington Real Estate Market Statistics for September 2018

The chart above, Residential Market Activity for RAHB Areas, illustrates how much the average price for Burlington has changed and it’s showing us how much each area has changed since last year. We can see that there were a total of 247 sales for the month of September, which is an increase compared to last year.

 

The Average Residential Price by District graph indicates to us that Burlington is doing well from the escarpment to the bay. And that it continues to remain a hot area. You’re also able to see the average cost of a home for the month of September in each area.

The chart above, Residential Marketing Activity, includes area 35, which are the neighbourhoods of Millcroft and Headen Forest. We can see the sales activity was 86 for the month of September, down 2.4% but still up from 2016.

RAHB reported 948 sales of residential properties and a 4.6% increase over the same month last year. And that The Sales to New Listing Ratio was 50.1% – indicating that the overall residential market for the RAHB area is in a balanced position.

With a Sales to Listing Price Ratio of 98.4% we can see that this area of Burlington continues to do well. Millcroft and Headen Forest continue to stay consistent and the average time a home is on the market at 27.8%.

For more in-depth statistics and additional metrics, please refer to RAHB’s Burlington Residential Marketing Report for September 2018. 

And if you’re thinking of selling your home please make sure you contact us. We are ready to help you find what you’ve been dreaming of.

Spring Market Trends blog header

2018 RE/MAX Spring Market Trends Report

A recent RE/MAX survey conducted by Leger found more than one in four Canadian homebuyers report feeling pinched by the stress test, which came into effect in January of this year. However, projections for the spring market show optimism with most markets expected to remain stable or improve.

Despite all of the factors involved, the spring market across most of the country is forecasted to strengthen as we head into the warmer months. Supply is still low in many markets, and while the prices may not reach the same levels as this time last year, we are expected to see continued healthy price appreciation from the earlier months of this year across many regions in the country.

The average residential sale price in the Greater Toronto Area dropped to $753,747, down almost 10 per cent from $834,144 in January and February of 2017. With move-up buyers driving the market — many of whom are making their second or third transition — alongside a booming condominium market, prices are forecasted to soften throughout the year. Not all regions in Ontario are being affected like the GTA. In Ottawa, the average residential sale price in January and February was $388,289, up four per cent from the same period in 2017, and Kitchener-Waterloo saw a five per cent price increase year-over-year.

Activity in Hamilton-Burlington was driven by first-time homebuyers, primarily single Millennials and young families.

Buyers looking to downsize have also contributed to some of the activity in the condominium market. Millennial demand and immigration growth have all contributed to a strong detached home market in January and February.

RE/MAX Report Hamilton-Burlington

Click here to read the full report

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.

The 2017 Profile of Home Buyers and Sellers

The following infographic based on an annual survey, put together by the National Association of REALTORS®, shows some interesting statistics about home buyers and home sellers.

  • 34% of all home buyers are First-time home buyers
  • 54 is the age of repeat home buyers, which has been increasing
  • There is a decline in married couples buying homes
  • There is an increase in single females buying homes
  • 8% homes are sold by the owner
  • 87% use an agent when buying a home
  • 89% use an agent when selling a home
  • Home are 3 weeks on market
2017 profile of home buyers and sellers
Click here to view size

Looking for a professional and dedicated Burlington Real Estate Agent? Let Lori VanDinther and her team help you sell your home for more money or help you find buy an ideal home with ease. Or both!