Burlington, nestled on the shores of Lake Ontario, has long been celebrated for its stunning natural surroundings and vibrant community. A key aspect of this thriving city is its dynamic real estate market, offering a range of housing options for residents and newcomers alike.
1. Listings on Market:
Burlington’s real estate market encompasses a diverse array of housing options, including homes, townhomes, and condos.
Presently, Burlington boasts 119 homes listed on the market, providing potential buyers with a rich selection of residential choices.
For those seeking the convenience and community of townhome living, Burlington offers 74 listings, reflecting the appeal of this housing style.
Condos, offering a more compact and maintenance-free lifestyle, present 11 options for residents in Burlington.
2. Average Listings Price Last Month:
The average listing prices for homes, townhomes, and condos over the past three months provide valuable insights into the market’s affordability and investment potential:
The average listing price for homes in the last three months stands at $1,078,359, showcasing the city’s vibrant residential offerings.
Burlington’s townhome market features an average listing price of $925,789 over the same period, indicating competitive pricing.
The condo market in Burlington has presented an average listing price of $678,901 in the past three months, making it an attractive option for those seeking a more compact living arrangement.
3. Change in Average Listing Price:
Understanding the change in average listing prices offers insights into market dynamics:
There has been a noteworthy 3.1% increase in the average listing price for homes, reflecting growing demand and appreciation in property values.
Townhomes have seen a steady 2.9% increase in the average listing price, indicating sustained interest in this housing segment.
Condos have experienced a 2.8% increase in the average listing price, signalling stability and potential opportunities for buyers.
4. Average SOLD Price Last Month:
The average sold price for homes, townhomes, and condos in the past three months reflects actual transaction values:
Homes in Burlington have seen an average sold price of $1,084,567 over the past three months, highlighting the competitiveness of the market.
The average sold price for townhomes in Burlington during the same period is $931,234, showcasing a growing market.
The condo market in Burlington has experienced a significant 3.0% increase in the average sold price, indicating robust demand and growth.
5. Change in Average SOLD Price:
Analyzing the change in the average sold price provides further insights into market dynamics:
The average sold price for homes reflects a robust 3.3% increase, indicating strong demand and appreciation in property values.
Townhomes have witnessed a 3.1% increase in the average sold price, showcasing the attractiveness of this segment to buyers.
The condo market remains steady with a 3.0% increase in the average sold price, reflecting a stable and evolving market.
Inventory & SOLD Statistics:
In the last 28 days, the Burlington real estate market has been active, with key statistics as follows:
There were 660 new home listings, with 130 homes sold during this period. The average days on the market for homes stood at 13 days, and the selling-to-listing price ratio was a robust indicator of the competitiveness and strength of Burlington’s home market.
Burlington recorded 312 new townhome listings and 85 townhomes sold in the last 28 days, reflecting efficiency and competitive pricing dynamics in this housing segment.
For condos, there were 288 new listings and 69 condos sold in the last 28 days, offering a range of options and showcasing the dynamic nature of Burlington’s condo market.
