Local real estate market statistics show burlington experiencing a december slowdown

Burlington, as expected, experienced a seasonal real estate market slowdown in December. It is interesting to note that the decrease was moderate in comparison to the December stats for Oakville, although, both cities experienced a slower month in the real estate market. This highlights that while these two communities are side by side, the market for real estate in Burlington and Oakville are individual and unique.
 

In examining the local real estate market statistics, we note the average sale price in Burlington increased 8% over November and 28% over December 2020. The increase was noted across all types of homes. The average selling price of homes in December was $1,243,787.
The number of home sales in December was -33% less than November but only -7% less than December 2020. There were fewer new listings (-48%) than November and -14% less than last year. 
The -52% reduction in Active Listings since November no doubt contributed to the elevated average Sales Prices. Buyers likely increased offer amounts as a result of the limited supply. It continues to be a challenging market for buyers so contact us now and we'll sign you up to see listings as they come onto the market. This is just one strategy our team employs to help you find you new home.

  
Burlington's low inventory of homes combined with continued consumer demand helps to explain why the average days on market (DOM) remains low at 12 days and months of inventory is at its lowest at 0.3. As expected, low inventory continues to push the average sale price up and we are 8% higher than last month and 28% than this time last year.
 

Average sale price to list price remained at 110% this month. Like many cities and towns, Burlington has many different types of homes and varied neighbourhoods. Housing types and prices vary from community to community, the earlier in the process that you speak to us, the better we can help you in the purchase or sale of your home.


Detached homes continued to be the most more dominant home type in Burlington, the average sale price exceeded $1.6 million in December. Followed by condo apartments at $672 thousand. You must look at all housing types and areas to get the full picture. Talk to us now at 905-220-1848 and let us get all the information for the area and type of home you are looking to sell or buy, or email [email protected]. We love to talk Real Estate!