Burlington Real Estate Market Statistics For Fall
The Burlington Real Estate Market Statistics for October 2020 were provided by the REALTORs Association of Hamilton-Burlington (RAHB). It was reported that this fall that there were 1,615 residential properties sold within the RAHB market area. Sales were reported to be down 7.6 per cent over the previous month and up 23.7 per cent compared to fall 2019.
In October 2020, we saw that the average price for a residential property was up 0.02 per cent to $721,523, and up 19.8 per cent from the same time last year. It was also reported that the number of active listings were 39.8 per cent lower than the same time last year.
Burlington Residential Table
Let’s take a look at the above chart, Burlington Residential Table, we can review the various numbers for October 2020. There was a reported 419 new listings, which is a 19 per cent increase when we compare it to the same time last year. There was also a reported 374 sales, this was a 35 per cent increase over October 2019.
The average property price in Burlington was reported to be $891,844, that’s a 14 per cent increase over the same time last year. It’s also important to make note of the median price for residential homes in October 2020, it was up by 13 per cent to $800,250. Let’s now turn our attention to the map below and get a closer look at each neighbourhood in Burlington.
Average Residential Price by District
The above map, Average Price by District, illustrates each area in Burlington. The areas that we should take note of are; 31, 34 and 34. Each of these areas had the highest number of sales for October 2020.
It should also be noted that area 35, better known as Millcroft, had a total of 113 sales. This doesn’t come as a surprise as this is the most sought after neighbourhood in Burlington. The average price of a home in this neighbourhood was reported to be $793,885. The area that had the highest property price was area 38, which was $1,800,594.
RAHB Statistics for October 2020
The October Burlington Real Estate statistics saw a total of 1,615 sales of residential properties. When compared to the same time last year, there was a decrease of 7.6 per cent over the previous month and up 23.7 per cent over last month. New listings also saw an increase, there was a 19 per cent increase over October 2019, and a 39.8 per cent increase compared to the same time last year.
“The trends this Fall are not reminiscent of what we would normally see – with October activity slowing slightly compared to September – and this is due to 2020 not being a typical year. As a result of COVID-19, we experienced a delayed Spring market and a surge in record activity over the Summer months when the province began to reopen. As a result of this unstable year, active listings at the end of each month are some of the lowest we’ve seen, exacerbating low inventory levels and continuing to drive average price.” – RAHB President Kathy Della-Nebbia
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