Real Estate Trends

November 2018 STATs for Burlington

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Residential Market Activity November 2018

In the chart above, Residential Market Activity, we can see the overall sales compared to this time last year. There were a total of 212 sales for the month of November. And we can see that the average cost of a home in Burlington has gone up and average sale price increased by 4%.

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Average Residential Price by District November 2018

The Average Residential Price by District graph indicates to us that Burlington continues to do well from the escarpment to the bay. You’re also able to see the average cost of a home for the month. We’re also able to see that area 35 remains very hot with the most number of total sales (61) for November 2018.

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Burlington Residential Table for November 2018

The above chart Burlington Residential Table which includes area 35, the neighbourhoods of Millcroft and Headen Forest, have done very well. We can see the sales activity was 212 for the month of November. And the total sales for Burlington and Hamilton were 862.

The Sales to New Listing Ratio was 17.2% – indicating that the overall residential market for the RAHB area is normal for this time of year. As it’s common to see these ratios during the months of November and December. The sales-to-listing-price ratio was 97.8% indicating that Burlington continues to do well overall.

For more information, please refer to RAHB’s Residential Market and MLS Home Price Index Report for November 2018. 

If you’re thinking of selling your home please make sure you contact us. We’re ready to help you find your new home.

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.

 

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2018 RE/MAX Spring Market Trends Report

A recent RE/MAX survey conducted by Leger found more than one in four Canadian homebuyers report feeling pinched by the stress test, which came into effect in January of this year. However, projections for the spring market show optimism with most markets expected to remain stable or improve.

Despite all of the factors involved, the spring market across most of the country is forecasted to strengthen as we head into the warmer months. Supply is still low in many markets, and while the prices may not reach the same levels as this time last year, we are expected to see continued healthy price appreciation from the earlier months of this year across many regions in the country.

The average residential sale price in the Greater Toronto Area dropped to $753,747, down almost 10 per cent from $834,144 in January and February of 2017. With move-up buyers driving the market — many of whom are making their second or third transition — alongside a booming condominium market, prices are forecasted to soften throughout the year. Not all regions in Ontario are being affected like the GTA. In Ottawa, the average residential sale price in January and February was $388,289, up four per cent from the same period in 2017, and Kitchener-Waterloo saw a five per cent price increase year-over-year.

Activity in Hamilton-Burlington was driven by first-time homebuyers, primarily single Millennials and young families.

Buyers looking to downsize have also contributed to some of the activity in the condominium market. Millennial demand and immigration growth have all contributed to a strong detached home market in January and February.

RE/MAX Report Hamilton-Burlington

Click here to read the full report

Looking to sell your home? Or buy a first time home, or move up, or downsize? Let Lori VanDinther, RE/MAX Sales Representative guide you through the process and help you make the right moves. With over 23+ years of successfully selling real estate in Burlington/Hamilton area, Lori has the experience and market knowledge. Contact Lori today.