July 2019 Statistics Provided by RAHB
The July 2019 statistics were provided by the REALTORs Association of Hamilton-Burlington (RAHB). July 2019 saw a 10.9% increase from July 2018 in the sales of residential properties.
Single family homes also saw an increase by 13.1% compared to the same time last year. And it was also reported that the average listing price for a single family home in Burlington increased by 7.2% to $767,293.
We’ll review and summarize the July market statistics for the Burlington real estate market. Below is the first chart, Residential Market Activity, it shows us the sales and average cost of a residential property in Burlington, Hamilton and the surrounding areas.
Residential Market Activity for RAHB Areas
The above chart, Residential Market Activity for RAHB Areas, indicates to us that Burlington had a very strong July 2019. Burlington had a reported 276 sales with an average listing price of $767,293.
This clearly shows us that there’s been an increase in both the average listing price and the number of sales. We clearly see this when we compare the number to July 2018.
Let’s now take a look the map below, Average Residential Price by District. So that we can get a better idea of what the month looked like in terms of sales and average price of a residential property in each area.
The Average Residential Price by District
The above map, Average Residential Price by District that was provided by the REALTORs Association of Hamilton-Burlington. This map is a great tool when we want to better understand each individual area.
It becomes clear right away that the area with the highest number of residential properties was Millcroft (35). This is Burlington’s most sought after neighbourhood. And the numbers indicate that this remains true for the month with a total of 84 sales. And with an average listings price of $719, 338.
Overall Burlington had a strong July and from the Bay to Highway #5 we can see the evidence of this. The next chart, Burlington Residential Table for a more in-depth look at the numbers.
Burlington Residential Table
Our final chart, Burlington Residential Table illustrates how Burlington’s market did for the month of July. We can see that there were a total of 359 new listings and 484 active listings.
And with the median price being $700,000 which is only a 1% increase from the same time last year. The market remains very steady as we get closer to the fall market.
Finally we can take a look at the average number of days a property was on the market in July, which was 28 days. Lets now turn our attention to some more RAHB statistics.
RAHB Statistics for July
For the month of July it was reported that there were a total of 1,170 sales of residential properties for the entire RAHB market area. This is a 10.9% increase when compared to the same time last year. And with the average listing price seeing a 0.9% increase from July 2018 to $593,702.
“A yearly real estate cycle sees peaks in spring and fall, with a typically slower summer. Average prices have stayed fairly stable since the spring high, which could point toward a healthy fall market when we could see the number of sales edge higher again.” – RAHB President Bob Van de Vrande .
For More Information
If you would like to learn more about these statistics and for a more in-depth report, please refer to the press release provided by RAHB.
Now might be the time to contact Lori and she provide more information about market. And Lori can also help you find your dream home. Have you ever wondered what your home is worth? Try the What’s My Home Worth calculator today and find out.