Housing Prices

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.

Move-Up Buyers Set To Increase Their Stake In Homeownership

Move-up Buyers Report 2013
Supported by serious upward appreciation over the past decade, value-conscious homebuyers continue to drive demand for move-up product in the Burlington.

Supported by serious upward appreciation over the past decade, value-conscious homebuyers continue to drive demand for move-up product in the Burlington Area. The greatest trade-up activity is occurring between the $450,000 to $600,000 price point in Burlington. Last year, sales in that segment of the market represented 23 per cent (705 units).

The figures are expected to increase this year as more experienced buyers move to take advantage of lower interest rates and equity gains. Average price in Burlington has almost doubled in the past decade, rising from $183,442 in 2002 to $360,059 in 2012, for an annual compounded rate of return of close to 7 per cent.

In Burlington, trade-up purchasers are looking to the northwest quadrant of the city where older homes on larger, well treed lots represent good value. Many move-up buyers are willing to undertake renovations, such as updating kitchens and bathrooms, in order to realize ownership in these established areas. As a result, sales in the northwest were up 86 per cent in 2012, compared to one year earlier. Those willing to spend closer to $600,000 are choosing mid-southeast communities in Burlington, south of the QEW.

Property Value Appreciation in Burlington, Ontario
5 Year 34 % (6.02 % annually)
10 Year 96 % (6.98 % annually)

Offering some of the most affordable housing in Southwestern Ontario, inventory is expected to be tight this spring in Burlington, with under 100 properties currently listed for sale at the move-up price points.

For complete information you can download the Move-up Buyers Report 2013.

Thinking of moving or buying a house in Burlington? I’d be delighted to help you!
As a long time resident of this gorgeous city and a dedicated Burlington RE/MAX Realtor I will put my knowledge and experience to work for you and help you make the right moves.