Burlington Real Estate Market Statistics
The Burlington Real Estate Market Statistics for May 2020 have been provided by The REALTORs Association of Hamilton-Burlington. We can see when we take a look at the numbers that even though some percentages may be down when compared to the same times last year, the market still continues to be active, due to a balance of buyers and sellers.
Burlington Residential Table – May 2020
It was reported that the average price of a residential property in Burlington was up by 12% to $834,808, and the median price saw an increase of 8% to $751,000. However, listings saw a decrease of 49% with a total of 283 for May 2020. We can also see that sales were down by 48%, with a total of 189.
These decreases in overall numbers are due to the fact that we are in the middle of a global pandemic. But despite these circumstances, the real estate market continues to push forward. Because buyers still need to buy and sellers still need to sell. Even though active listings might have been down by 30% the numbers of days homes remained on the market was unchanged.
Average Residential Price by District
The above map, Average Price by District illustrates how each neighbourhood in Burlington did in terms of the average residential sale price, plus the number of homes sold at that price. Sub areas to note are; 31, 34 and 35. The area with the highest average property price was area 5 with the average pice being $1,682,500. Area 35, the neighbourhood of Millcroft had an average price of $741,531 with 65 properties sold at that price.
RAHB Statistics for May 2020
It was reported by the REALTORs Association of Hamilton-Burlington that there were 852 sales of residential properties in May 2020. It’s also important to note that sales were down 42.2% over May 2019, and up 43.4% when compared to April 2020. The average residential property was reported to be up by 10% to $655,418, and up 6.3% compared to last month.
“New listings and sales are understandably down compared to May 2019; however, the average sale price has held fairly steady week-over-week during COVID-19 due to a balance of buyers and sellers. The province moving safely into phase one of re-opening has improved consumer confidence, leading to an increase in activity compared to April. If progress continues and the weather cooperates, we should expect higher activity in June.” – RAHB President Kathy Della-Nebbia
Contact Lori VanDinther and Team Today
There’s a lot going on in the world and we know you might have some questions. Or you might be looking to put your property on the market. We can help you’re looking for more information about market up dates related to COVID-19 or have any questions about these statistics, you can contact Lori and her team today.