Burlington May Market Update

BURLINGTON REAL ESTATE MARKET | ROSS BRIDGES REAL ESTATE TEAM

May's weather may have been up and down, however, real estate trends continued to be fairly consistent. The Burlington real estate market is still active! The extremely high number of May home sales this spring (over 2020) is due to a combination of the very active real estate market and last year's first Covid

lockdown! Average sale prices have increased 18% over last year and Burlington house sales were 141% higher than in May 2020.

While Burlington's new listings were down 11% from April, they were up 85% from last year! Inventory remains low due to the vast number of people looking to buy in Burlington right now! It remains a Seller's Market with homes be on the market for an average (DOM) of only 10 days in May and the Months of Inventory (MOI) being a low 0.6.

Firm offers with no conditions and multiple offers on homes continues to be the norm, resulting in many homes being sold for over list price! You'll note the selling price to listing price (Ave SP/LP) is 105% for April. The highest average SP/LP last month was 110% for semi-detached homes once again.

Employing a knowledgeable and experienced REALTOR® is the best strategy to be successful in buying and selling homes. Our team is here and ready to help you achieve your real estate dreams. We can offer you

knowledge on things like the difference between a

Seller's Market and Buyer Market and strategies for both buying and selling.

Speak today to our professional REALTORS®, call 905-220-1848 and learn more about the different local markets and types of homes, as we guide you through the selling and buying process.

Buying or selling, we have a plan to help you reach your real estate dreams! We employ professional stagers and photographers in order to professionally market your home. We have a network of financial advisors who can help you determine your best mortgage options.
We would love to connect with your to discuss your real estate goals! Our clients' testimonials
speak for themselves!