The Number of New Listings is Up
- The Number of Sales for March is 363, which is up 24% compared to last month, but down 20% from this time last year.
- Months of Inventory (MOI) is 0.7, which is similar to March 2021 at 0.6, but down from 1.3 which we saw in March 2020.
- Average Days on Market (DOM) is unchanged from last month at 7 but is slightly down from March 2021 at 9.
- Average Sale Price is down 11% from last month's $1,457,249.
- The number of New Listings is up for all home types, with some numbers more than tripling since January.
- The number of Active Listings saw similar growth to New Listings, with all home types seeing an increase from earlier months.
- Months of Inventory (MOI) for Detached Homes and Condo Townhouses has remained at 0.6 from February, while Semi-Detached and Attached/Row Townhouses both saw a decrease.
- With the exception of Link Homes, all home types saw an increase in the Number of Sales from last month and have more than doubled from January 2022.
- Condo Apartments saw the biggest decrease in Days on Market (DOM), from 12 to 9, while Links saw a jump from 0 to 6 but only because there was no inventory last month.
- Condo Townhomes were the only type to see an increase in the Average Sale Price, at $961,161 from $943,755 in February.
- Average Sale Price to Listing Price (SP/LP) was down across the board this month, apart from Link Homes, due only to lack of inventory in February.
- Compared to February, the Average Sale Price was down 11%, now at $1,302,816 from $1,457,249.
- The Total Dollar Volume for March was $474,224,937, up from February at $359,940,442.
- The Median Sale Price continues to stay above the $1 Million mark at $1,252,000 which is down from last month’s $1,308,500.
- Average Sale Price is up 19% from this time last year, when it reached $1,098,714.
- The Total Dollar Volume for March 2021 was $498,011,025 ($23,786,088 more than March 2022).
- The Median Sale Price is up 28% from March of 2021’s median of $970,000.
ROSS BRIDGES REAL ESTATE TEAM - HELPING YOU FIND YOUR WAY HOME!
Check out the Oakville March Market Update to see how numbers compare to Burlington.
Read the Burlington Market Stats for February 2021 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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