Is the Burlington Real estate Market Settling Down?
- Compared to last month, number of sales have gone up 2%; compared to last year, there was a drop of 20%.
- The Average sale price continues to rise, 1% above the average last month and 20% above 2021 average sale price.
- So, while sales are slowing down, prices continue to rise.
- Up slightly from last month are Average Days on Market (DOM), still quite low, suggesting the right houses at the right prices are still getting snapped up very quickly!
- The number of New Listings continue to remain consistent for 2022, up 25% on last year’s numbers.
- This is good news for buyers, more listings more choice, and a step towards a more balanced market.
- The difference between the average Sale Price to Listing Price, has on average gone down to 101% (April 106%). As the above table shows, this is very much dependent upon the type of home being sold.
- 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.- The figures suggest that the market has peaked back in February, and is moving to level out.
- We are seeing the market become more balanced which should help more first
time buyers get into the market.
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.
- 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 May Market Update to see how numbers compare to Burlington.
Read the Burlington Market Stats for April 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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