Residential Market Activity
By taking a look at the above chart Residential Market Activity we can see that for December 2018, Burlington has has a slight decrease in the number of sales. However this is very common for the month of December. When sales tend to take a drop during the holiday season. With that being said this chart also indicates that the average cost of a home has increased by $38,401.
Average Residential Price by District
The Average Residential Price by District graph is indicating to us that Burlington is doing well from the HWY 5 to the bay. And you’re also able to see the December 2018 STATs average cost of a home for the month in each area. It appears that area 35 remains very hot with the most number of total sales (27) for December 2018.
Burlington Residential Table December 2018
In the above chart Burlington Residential Table which includes area 35, the neighbourhoods of Millcroft and Headen Forest, continue to do well. We can see the sales activity was 166 for the month of December. And the total sales for Burlington and Hamilton were 543.
December STATs Provided by RAHB
December 2018 STATs show a 26% lower number of sales than the same month last year. And the average cost of a home was up by 2.6% to $543, 210. The year-to-date sales activity was down 17.6% from the same time last year and down 12.2% compared to a decade ago. However compared to a decade ago, the price of a home is up 90%. And as the below statement by the CEO of RAHB states this is common.
“December has again proven to be one of the slower months for sales as people were busy celebrating the holidays rather than contemplating a move. But we anticipate market activity will pick up into 2019 as consumer confidence grows after being affected by the provincial and federal regulations introduced over the last two years.” Says RAHB CEO George O’Neill
For more information
Please refer to RAHB’s Residential Market and MLS Home Price Index Report for December 2018.
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