{"id":2785,"date":"2022-11-22T14:01:57","date_gmt":"2022-11-22T19:01:57","guid":{"rendered":"https:\/\/www.loriv.com\/blog\/?p=2785"},"modified":"2025-11-04T10:06:37","modified_gmt":"2025-11-04T15:06:37","slug":"burlington-real-estate-statistics-for-october-2022","status":"publish","type":"post","link":"https:\/\/loriv.com\/blog\/real-estate-market\/burlington-real-estate-statistics-for-october-2022\/","title":{"rendered":"Burlington Real Estate Statistics for October 2022"},"content":{"rendered":"\n

Burlington Real Estate Statistics <\/strong><\/h2>\n\n\n\n

The REALTORS\u00ae Association of Hamilton-Burlington<\/a> (RAHB) reported a total of 756 sales in October 2022. In the Burlington real estate market area there were a total of 168 residential sales. This was a 33.3 per cent decrease when compared to the same time last year. <\/p>\n\n\n\n

New listings in the Burlington real estate market area were reported to have had a total of 307. That\u2019s an 18 per cent increase when we compare it to October 2021. The average price of a residential property in Burlington in October 2022 was $1,098,439, which was a 5.2 per cent decrease. <\/p>\n\n\n\n

\u201cFor the first time since March, benchmark prices in the region did not trend down relative to the previous month. However, at an October price of $1,010,600, prices have still eased by 22 per cent from the February high. The benchmark prices remain over 15 per cent higher than they were at the end of 2020.\u201d <\/p>\n\n\n\n

Regional Summary <\/strong><\/h2>\n\n\n\n
\"\"<\/a><\/figure>\n\n\n\n

The above chart, Regional Summary<\/strong>, and gives us a better look at the Burlington real estate statistics and sales across all the areas. RAHB reported that sales trended down across all areas within the Burlington market area. It was reported that both areas 32 and 35 \u201csaw different levels of listing growth, keeping inventories low relative to sales activity.\u201d <\/p>\n\n\n\n

Millcroft (area 35) had the greatest number of sales for October 2022 with a total of 51 sales. This was a 26.1 per cent decrease compared to the same time last year. The average price of a residential property was $1,016,627, a small decrease of only 1.1 per cent. <\/p>\n\n\n\n

Another area to note is area 31 which had a total of 31 sales in October 2022, a decrease of 40.4 per cent. This area reported a total of 67 new listings which was a 9.8 per cent increase. The average price of a residential property in this area was $1,136,887, this was a 1.3 per cent increase. <\/p>\n\n\n\n

The final area that we\u2019ll review is area 38, this area had the highest average residential property price of $2,076,250. This was a decrease of 34.6 per cent and had a total of 4 sales in October 2022. Let\u2019s now take a look at the below map and get a closer look at the different areas within the Burlington real estate market. <\/p>\n\n\n\n

Average Residential Price by District <\/strong><\/h2>\n\n\n\n
\"\"<\/a><\/figure>\n\n\n\n

The above map, Average Residential Price by District<\/strong>, illustrates the different areas within the Burlington real estate market area. This map allows us to see the average price of a residential property and whether that price had a decrease or increase in October 2022. <\/p>\n\n\n\n

The area with the greatest number of sales was area 35, better known at Millcroft. This area is also one of the most sought after areas in Burlington. The average residential property price in Millcroft was $1,016,627, which was a small decrease. Listed below are the areas that reported the greatest number of sales in the Burlington real estate market area. <\/p>\n\n\n\n