Burlington’s Real Estate Trends
Nestled on the picturesque shores of Lake Ontario, Burlington real estate market is more than just a collection of properties; it’s a dynamic symphony playing out the diverse notes of homes, townhomes, and condos.
1. Listings on the Market:
The market boasts an impressive ensemble of 382 single-family residences, each with its unique charm and style, contributing to the city’s rich architectural tapestry.
For those seeking a blend of spacious living and community charm, 136 townhomes stand as a testament to the interconnected lives within Burlington.
Embracing contemporary lifestyles, 285 condos cater to urbanites and those in pursuit of modern living experiences.
2. Average Listing Price February
The financial narrative unfolds with an average listing price of $1,067,337, reflecting the perceived value associated with Burlington’s single-family residences.
Priced at an average of $889,993, townhomes offer a harmonious blend of affordability and quality, catering to a market seeking both space and community.
The contemporary living experience is accessible with an average listing price of $654,374, showcasing the city’s commitment to diverse and modern living options.
3. Change in Average Listing Price:
A modest decrease of 3.5% in the average listing price indicates a market responsive to economic dynamics, offering potential buyers some negotiating power. With a more substantial 5.7% reduction in the average listing price, the townhome market reflects the nuanced balance between value and affordability in Burlington’s real estate. Experiencing a minimal 1.0% change in the average listing price, condos showcase stability and resilience, meeting buyer demands and emphasizing the consistent appeal of this lifestyle in Burlington.
4. Average SOLD Price February
The average sold price for homes in Burlington stands at $1,036,000, reflecting the actual value as perceived by buyers. Townhomes, with an average sold price of $857,500, showcase a commitment to affordability without compromising on quality. Condos, at an average selling price of $639,000, resonate with buyers seeking a contemporary living experience within a budget-friendly range.
5. Change in Average SOLD Price:
A modest decrease of 2.3% in the average sold price suggests a market where buyers may have some negotiating power, reflecting the intricate dynamics of Burlington’s real estate.
With a more substantial change of -3.4% in the average sold price, the townhome market indicates a need for sellers to be strategic in pricing to attract potential buyers.
Experiencing a minimal -0.6% change in the average sold price, condos showcase stability, indicating a market where values adjust to meet buyer demand.
Inventory & SOLD Statistics:
In the last 30 days, 382 new home listings graced the market, with 129 finding new owners swiftly, reflecting the dynamic nature of Burlington’s real estate. The average days on the market, at 21 days. With 136 new listings and 50 sold in the last 30 days, the townhome market showcases a community being built and lives enriched. The 23 days on the market and a selling-to-listing price ratio of 95% reveal a segment where the value of townhomes is not just recognized but celebrated.
In the condo market, 285 new listings emerged in the last 30 days, reflecting the city’s commitment to modern living options. Of these, 94 condos changed hands, with an average of 26 days on the market. embraced but eagerly pursued. The selling-to-listing price ratio of 97% is a reminder that in the world of condos.
