Real Estate Trends

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Burlington Real Estate Market Statistics for July 2019

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
Residential-Market Activity for RAHB Areas July 2019
Residential-Market Activity for RAHB Areas July 2019

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 
Average Residential Price by District July 2019
Average Residential Price by District July 2019

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

Burlington Residential Table July 2019
Burlington Residential Table July 2019

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.

Contact Lori

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.

Muskoka chairs on a wooden deck

Cottage and Cabin Trends in Canada

Cottages and Cabins 

Cottage and cabin trends in Canada vary from province to province. Many of us have enjoyed escaping up north or to one of the Great Lakes for a weekend or a few weeks away in the summer. 

There’s just something special about getting out of the city for a while and reconnecting with nature. We get to sometimes even leave technology behind if we choose to and explore the beautiful nature around us. 

The cottage and cabin trends in Canada change with each generation. Today we’ll see what the differences are between Millennials and Baby Boomers. How each generation is using their vacation property, their interest in purchasing one and what that means to the real estate industry. 

A Recent Study about Cottages and Cabin Trends in Canada 

There was a recent study that showed 56% Canadian Millennials are interested in recreation properties. And that these numbers are higher than ever. That the percentage is up 14% from last year where is was 42%. In 2018 91% of these recreation properties were due to Baby Boomers. And they continue to be the driving force in 2019. 

“We are finally witnessing the beginning of a long anticipated generational shift of buying power from Baby Boomers to Millennials. With the high cost of urban living taking many young homebuyers out of those markets, more Millennials are contemplating recreational properties as a viable option for home ownership.” Says Christopher Alexander, Executive Vice President, RE/MAX of Ontario-Atlantic Canada. 

Livability Plays a Crucial Role 

It’s also important to note that in a survey there was a reported 61% that named affordability as the most important factor. While livability also plays a crucial role in their selection process. And there was another 61% of Canadians that indicated that these recreation properties are places they enjoy. And that it’s a place where they can go and relax and spend time with family and friends. 

In the same survey they found that 58% see these recreation properties as a getaway home. While 43% said they take part in activities that they normally wouldn’t at there terminate residence. And 58% of Millennials and 38% of Baby Boomers said that these properties are for those activities. For example some of those activities could be hiking, fishing, boating, etc. 

Atlantic, Ontario and Western Canadians 

We can now take a look at cottage and cabin trends in each region. The study found that 39% of Atlantic Canadians are looking for a property that’s secluded. While 25% of Ontarians and 28% of Western Canadians are looking for properties that are in good proximity to waterfront, towns and medical facilities. 

Travel Time to Recreational Properties 

The survey also discovered that 54% of Canadians travel 2 hours or less to their recreation properties. And that only 22% travel 3 hours or more. It seems that most Canadians want to have that escape from the city, but not have to deal with too much travel time. 

“With recreational properties more in reach today compared to the past, Travelling to your cottage or cabin is often accompanied by the Friday and Sunday rush, meaning increased traffic and longer travel times. Therefor it’s reasonable for buyers to take shorter travel times into consideration when choosing a recreational property.” Says Christopher Alexander, Executive Vice President, RE/MAX Atlantic-Ontario. 

Should You Consider a Recreational Property?

This is a great question and with the help of a REALTOR you can figure out if it’s something you’re ready for. There are lots of options depending on location and what your budget it. That’s why it’s so important to work with a REALTOR. 

Contact Lori VanDinther Today 

If you’re ready to start looking for a new home or a recreational property now is the time to contact Lori VanDinther. You can discuss next steps and if you’re curious to see what you home is worth, check out Lori’s What’s My Home Worth Calculator

House shaped Welcome mat

Burlington Real Estate Market Statistics for June 2019

June 2019 Statistics Provided by RAHB

The June 2019 statistics have arrived and were provided by the REALTORs Association of Hamilton-Burlington (RAHB). The stats indicate a 4.2% increase from June last year in the sale of residential properties.

It’s important to note that there was also an increase in the sale of single family homes by 11.6% over the same time last year. As well as an increase in the average sale price by 4.9% to $786,667.

This blog will review and summarize the statistics for June. We can see how much a property was in your neighbourhood and what the sales were like. Below is the first chart, Residential Market Activity, reviewing the sales and average cost of a residential property in Burlington and the surrounding areas.

Residential Market Activity for RAHB Areas
Residential Market-Activity for RAHB Areas June 2019
Residential Market Activity for RAHB Areas June 2019

When we review the above chart, Residential Market Activity, it becomes clear that Burlington saw an increase in the average sale price of a residential property to $786,667. While there was a slight decrease in the total number of sales for the month of June when compared to the same time last year.

We can now turn our attention to the map below, Average Residential Price by District. And 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 
Average Residential Price by District June 2019
Average Residential Price by District June 2019

The Average Residential Price by District map provided by the REALTORs Association of Hamilton-Burlington illustrates each individual area. We’re able to better understand how each area in Burlington did during the month of June. And we can see each average cost of a residential property and how many sales there were.

It becomes clear that the area with the highest number of sales was Burlington’s most sought after neighbourhood, Millcroft. With 38 sales at an average sales price of $686,452. Lets now draw our attention to area 38 which had the most expensive properties in Burlington at $1,505,571.

From highway #5 to the Burlington Bay it’s very clear that for the month of June Burlington remains strong and steady. The next chart we need to review is the Burlington Residential Table for a more in-depth look at the numbers. 

Burlington Residential Table
Burlington Residential Table June 2019
Burlington Residential Table June 2019

By reviewing the Burlington Residential Table we can get an more in-depth look at the overall numbers for June. We can see that there were a total of 414 new listings and 514 active listings. And once again we can see that the average cost of a property was $786,667. This is an increase of 11% compared to the same time last year.

And finally there has been a decrease in the number of days that a property remains on the market. There are a lot of positive numbers in the above chart. Lets turn our attention to some more RAHB statistics about the entire RAHB market area.

RAHB Statistics for June 2019

There were a reported 1,203 sales of residential properties located in the RAHB market area for June. This was a 4.2% increase compared to June 2018. The average price of a residential property also saw an increase of 5.2% from June 2018 to $593,549.

“The number of sales and average price is up over 2018, showing that the market is edging higher since it balanced out last year. Sales have dropped compared to May and April of this year, but paired with a decrease of about 4% in the number of new listings this could indicate the market is tightening.” – 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.

Contact Lori

Have you been thinking about selling your home? Now is the time to contact Lori and she can not only provide you with more information about market, she can also help you find your dream home. Have you ever wondered what your home is worth? Try Lori’s What’s My Home Worth calculator today.