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.