REAL ESTATE IN BURLINGTON IS STILL SELLING FOR CLOSE TO ASK!
- As we are moving towards a balanced market, the 33% decrease in house sales since May is not surprising. We must remember that 2021 numbers were high due to the crazy market. It is interesting to note that house sales for June were lower than we have seen in the last 5 years (June 2017 total was 230).
- The Average sale price continues to rise but not as dramatically. It is 1% above the average last month and 9% above 2021 average sale price. This is good news for sellers and buyers and another sign that we are moving into a balanced market.
- Average Days on Market (DOM) are still quite low, suggesting the right houses at the right prices are still getting snapped up very quickly!
- The number of New Listings is up 23% on last year’s numbers and down a slight 5% from May.
- More listings are a positive for buyers, giving them a little more time and choice when house hunting.
- The difference between the average Sale Price to Listing Price, has on average gone down to 98% . Our Activities Compared chart shows this is fairly consistent across home type.
- We do repeat this every month as it is important, these figures are the averages for all types of homes and areas within Burlington, which is why you should talk to us now, before starting your home search or selling your home.
- Call the Ross Bridges Real Estate Team now on 905-220-1848 or send us an email to [email protected]. We love to talk about real estate!
The Median Sale Price continues to stay around $1.2M, we do note that June was a little higher than the last couple of months.- The Sold Price Trend also suggests the market is balancing out having peaked in the winter.
- We can see that on average, homes are still selling for close to ask and in a relatively short amount of time, about 2 weeks.
It is important to look at yearly trends to get an overall sense of what the market is doing and note that whilst the monthly figures are useful, they don’t always reflect the overall trends. We can see that sale prices continue to climb.
- Remember, have a question on any of the above real estate trends? Need a question about the real estate market answered? Get in touch now! Call the Ross Bridges Real Estate Team on 905-220-1848 or send us an email to [email protected].
- Always happy to take your call or respond to your inquiries!
ROSS BRIDGES REAL ESTATE TEAM - HELPING YOU FIND YOUR WAY HOME!
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Check out the Oakville June Market Update to see how numbers compare to Burlington.
Read the Burlington Market Stats for May 2022 to see the difference a month can make.
Check out Ross' podcast, Rambling REALTORS® for discussions on all things Real Estate, including trends and statistics!
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