REALTORS® Association of Hamilton-Burlington report

Burlington Real Estate Market Statistics for January 2019

Residential Market Activity
Residential Market Activity
Residential Market Activity

When we take a look at the above chart for the January stats, Residential Market Activity for RAHB Areas. We can see that compared to the same time last year that the number of sales has increased. We can also see that compared to any of the other areas that Burlington is in the lead when it comes to the number of sales. Burlington January stats indicate there were a total of 143 sales. And the average cost of a home for the month of January had increased and was $712,040.

Average Residential Price by District
Average Residential Price by District
Average Residential Price by District

The Average Residential Price by District map is clearly indicating to us that Burlington did quite well in January 2019. We can see that from the lake to HWY #5 there was a great number of sales. Areas to note are 30, 31 and 35, these area were the ones with the highest number. You’re also able to see what the average cost of a home in each area.

Burlington Residential Table
Burlington Residential Table
Burlington Residential Table

Let’s take a look at the above chart, Burlington Residential Table, we can see that it clearly indicates Burlington has done well for the month of January. This chart includes the neighbourhoods of Milcroft and Headen Forest.

And when we look at the chart we can clearly see that the average cost of a home has increased by 5% to $712,040. The amount of time a home is on the market has increased by a small amount and was 23.3 days. The amount of new listings has increased and was 322, with the number of sales having increased by 4% to 143.

January STATs Provided by RAHB

There was a reported 593 sales for the month of January located in the RAHB areas. There was also a 3.6% drop from the same time last year. And the average price of a home for the entire area was up by 4.7% to $550,058.

“This is a promising start to 2019. For sellers, the average price of a home has increased over 100% since 2009. For buyers, sales activity has slowed, the number of new listings has increased, and we are sitting firm in a balanced market. The January numbers have picked up since the downturn we experienced in December.” – RAHB CEO George O’Neil. 

For more information

If you’re looking for a more in-depth statistics and some additional metrics, please read the full report, RAHB’s REALTORS® RELEASE JANUARY STATISTICS 

Contact Lori VanDinther

Please make sure you contact us If you’re thinking about selling your home. We’re ready to help you find what you’ve been dreaming.

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.