Home Buying and Selling

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.

 

September 2018 STATs for Burlington

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.

Selling your home with Real Estate Agent

Why You Should Hire a Real Estate Agent To Sell Your Home

If you’re a homeowner and you’re thinking about selling your home, definitely hire a real estate agent. Although there are websites that will allow you to sell your home without the listing agent, by marketing your home as “for sale by owner” (FSBO). And although you may save some money by not having to pay a fee to the real estate listings brokerage – you may not be doing yourself a great service. It may not be your best move!

Understanding today’s real estate market and knowing how to sell your home for top dollar is not so simple. And it may not be something that many of us are prepared to do. There will be a lot of work in managing the sales process, ;legal work, papers, and in the end saving some money may not be worth it.

So why should you leave it to the pros?

Pricing your home

Real estate agents know best how to price your home. They have access to real statistics and data which allows them to perform a proper market analysis and look at the comparable homes. This is key, if you want to price your home right. This will also determine how fast you’ll sell your home and how much you’re going to get in the end. Don’t just settle for some website to tell you how much your home is valued. It’s a big sale transaction. Hire a professional. You’ll be glad you did.

Sales and marketing strategy

Selling homes takes effort. Not only does your home have to be de-cluttered, presentable and clean, but it also has to be listed, staged, shown to potential buyers etc. A real estate professional will take care of all that and more. They will take lots of good photos, make videos and put together effective home feature sheet. They will list the house on MLS, their own websites and social channels. They will hold open houses, setup for sale signs, do walk-throughs and deal with any positive or negative comments about your home. All this to get your home noticed by a potential buyer and sold for top dollar in a short time.

Negotiating and closing the sale

There is a lot of negotiating, paperwork and legal stuff that has to be done before a home is considered sold. Your agent will understand the process really well, and have experience to avoid common pitfalls. They will have access to a real estate lawyers to carefully review the purchase offers and conditions and offer advice. Your real estate agent will also screen potential buyers, to make sure that your home is going to be sold to someone who actually has the money or is pre-approved by the reputable mortgage lender — before taking the home off the market.

This isn’t an exhaustive list of all the duties and responsibilities that seller’s agent has to perform. A successful real estate agent usually has a team that coordinates the sale of your home from begging to the end. Also, your agent can also be helping you buy your new home or transition into something else.

Knowing that you’re in the right hands, when we’re talking hundreds of thousands of dollars, is a good feeling. Definitely hire a real estate agent when selling or buying your home. You can’t afford not to!

Thinking of selling your home in Burlington and surrounding area? Call Lori VanDinther, or visit loriv.com to learn more about her home selling services.