BurlINGTON real estate market | ross bridges real estate team

January and the winter real estate market is notorious for being quieter times of the year, but over the past few years, the first month of the new year is starting to see more and more activity.  People are no longer waiting for the Spring to either  buy or sell their homes.   This year, maybe a side effect of COVID-19, but Burlington saw a 49% increase in the number of sales compared to January 2020 with an increase of 15% in the average sale price. The following chart shows the comparison for Burlington January 2021 to 2020 and 2019. The market continues to be predominiately a sellers market, with an average MOI of 1, with the condo apartments leaning slightly more to a balanced market at 1.3 MOI.   The chart below shows the difference in activities for Burlington depending on the property types.   In a nutshell, inventory is low (number of new and activite listings) compared to people out buying.   Average days on the market is lower than previous months and years and the average home is selling for more than its listings price (see the average percentage of selling price to listing price - over 100% means that it sold for more than it was listed for).   Equally important, is the type of homes that are performing this way.  Condo apartments, a great way to get into the real estate market, tend to be the homes selling for closest to the asking price. Great news for buyers looking to get into the Real Estate market!

As a reminder, different types of homes and neighbourhoods will perform differently which is why it is very important to speak to the experts about the various homes and neighbourhoods.  Do not hestistate to contact us or book a meeting - zoom or phone and we would be happy to share our knowledge and experience to help you buy and sell your home or investment property.  From first time buyers, to up & down sizers, we bridge the gap between buyers and sellers!

Call us today and lets talk real estate!  Ross Bridges REALTOR® 905-220-1848!

Home Price Index provides a price growth measure for benchmark home in Burlington with the same characteristics over time, allowing for an apples-to-apples comparison from one year to the next.







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