Burlington Real Estate Market Statistics
The Burlington Real Estate Market Statistics for August 2020 were provided by the REALTORs Association of Hamilton-Burlington (RAHB). In August 2020, there were a reported 1,272 sales of residential properties. Sales were reported to be down by 21.4% compared to the same time last year, and up 12.7% compared to August 2019.
Burlington Residential Table
When look at the above chart, Burlington Residential Table, we can see that there was a total of 261 sales. That’s a decrease of only 16% and there was a total of 319 new listings. The average property price for Burlington was up 13% to $865,068.
The median price of a residential property saw an increase of 16% to $794,000. The Burlington real estate market saw a total of 335 active listings, a decrease of 9% compared to the same time last year.
Average Residential Price by District
The above map, Average Price by District, illustrates each area in Burlington. Areas to note for August 2020 were 31, 34 and 35, each of these areas had the highest amount of sales. The area with the highest average property price was once again, area 38 with the average pice being $1,506,667.
Another area to more with one of the highest average sales price was area 33. The average property price in this area was $1,272,588 and the area had a total of 26 sales for the month of August. Burlington’s most sought after neighbourhood, Millcroft (area 35) saw a total of 71 sales with an average property price of $803,497.
RAHB Statistics for August 2020
August 2020 real estate statistics saw a total of 1,272 sales of residential properties. When compared to the same time last year, sales were down 21.4%, and up 12.7% compared to August 2019.
New listings in Burlington saw a 3% increase, with a total of 261 sales of residential properties. The average price of a residential property saw an increase of 13% to $856,056. With the average price of a residential property in the entire RAHB area being $694,690, which is an increase of 0.24% from last month, and up 16.3% from August 2019.
““This month’s activity was in line with what we would typically see for August; however, due to COVID-19 the trends for the year are not what we would normally experience. Over the Spring, we saw lower than normal activity, but a balance between supply and demand. Into the Summer months we saw an increase in activity where we would normally see a decrease. As we move into the Fall, we would expect a return to higher activity. With the potential for a second wave of the virus we don’t want to make any predictions, but RAHB REALTORS® will continue to find houses for buyers and buyers for sellers in a healthy and safe way.” – RAHB President Kathy Della-Nebbia.
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There’s a lot going on in the world and we know you might have some questions. If you’re looking for more information about market up dates related to COVID-19, Lori will be happy to help answer those questions as well. Or you might be looking to put your property on the market, please contact Lori and her team and they’ll be happy to help.