Burlington Actual Property Statistics for October 2022


Burlington Actual Property Statistics

The REALTORS® Affiliation of Hamilton-Burlington (RAHB) reported a complete of 756 gross sales in October 2022. Within the Burlington actual property market space there have been a complete of 168 residential gross sales. This was a 33.3 per cent lower when in comparison with the identical time final yr. 

New listings within the Burlington actual property market space had been reported to have had a complete of 307. That’s an 18 per cent enhance after we examine it to October 2021. The common worth of a residential property in Burlington in October 2022 was $1,098,439, which was a 5.2 per cent lower. 

“For the primary time since March, benchmark costs within the area didn’t development down relative to the earlier month. Nevertheless, at an October worth of $1,010,600, costs have nonetheless eased by 22 per cent from the February excessive. The benchmark costs stay over 15 per cent larger than they had been on the finish of 2020.” 

Regional Abstract 

The above chart, Regional Abstract, and offers us a greater take a look at the Burlington actual property statistics and gross sales throughout all of the areas. RAHB reported that gross sales trended down throughout all areas inside the Burlington market space. It was reported that each areas 32 and 35 “noticed completely different ranges of itemizing progress, preserving inventories low relative to gross sales exercise.” 

Millcroft (space 35) had the best variety of gross sales for October 2022 with a complete of 51 gross sales. This was a 26.1 per cent lower in comparison with the identical time final yr. The common worth of a residential property was $1,016,627, a small lower of only one.1 per cent. 

One other space to notice is space 31 which had a complete of 31 gross sales in October 2022, a lower of 40.4 per cent. This space reported a complete of 67 new listings which was a 9.8 per cent enhance. The common worth of a residential property on this space was $1,136,887, this was a 1.3 per cent enhance. 

The ultimate space that we’ll assessment is space 38, this space had the best common residential property worth of $2,076,250. This was a lower of 34.6 per cent and had a complete of 4 gross sales in October 2022. Let’s now check out the beneath map and get a more in-depth take a look at the completely different areas inside the Burlington actual property market. 

Common Residential Value by District 

The above map, Common Residential Value by District, illustrates the completely different areas inside the Burlington actual property market space. This map permits us to see the common worth of a residential property and whether or not that worth had a lower or enhance in October 2022. 

The realm with the best variety of gross sales was space 35, higher recognized at Millcroft. This space can also be one of the wanted areas in Burlington. The common residential property worth in Millcroft was $1,016,627, which was a small lower. Listed beneath are the areas that reported the best variety of gross sales within the Burlington actual property market space. 

  • Space 35: 51 gross sales, 68 new listings, $1,016,627
  • Space 31: 31 gross sales, 67 new listings, $1,136,887
  • Space 32: 22 gross sales, 19 new listings, $872,955
  • Space 34: 22 gross sales, 35 new listings, $962,357

It’s attention-grabbing to assessment this map and search for the world that you just dwell in, this fashion you may get a greater concept of what your property is likely to be value. We’re in a position to see whether or not costs have had a lower or a rise of their common worth. RAHB has additionally damaged down every property sort and that’s what we’ll assessment within the subsequent chart. 

Property Kind Comparability  

The above chart, Property Kind Comparability, permits us to assessment the completely different property varieties inside the Burlington actual property market space. We are able to see what the common worth was, what number of days it was available on the market and variety of gross sales in October 2022. 

In line with RAHB, indifferent properties had a complete of 80 gross sales, this was a lower of 35.5 per cent. There have been a complete of 146 new listings with a median property worth of $1,414,375, which was a 5.2 per cent lower. 

Semi-detached properties had been reported to have had a complete of seven gross sales, a lower of 46.23 per cent. There have been 13 new listings reported in October 2022 with a median worth of $1,069,429. The common worth had a small enhance of 9.9 per cent in comparison with the identical time final yr. 

RAHB reported that there have been 39 gross sales of townhomes or row homes in October 2022. There have been a complete of 68 new listings with a median worth of $860,705, this was a 6.4 per cent lower. 

Lastly, it was reported by RAHB that there have been 41 gross sales of apartment-style properties, this was a 29.3 per cent lower. There have been a complete of 79 new listings with a median worth of $734,473, a 1.2 per cent enhance when in comparison with the identical time final yr. 

REALTORS® Affiliation of Hamilton-Burlington Actual Property Statistics 

The REALTORS® Affiliation of Hamilton-Burlington (RAHB), reported a complete of 756 gross sales in October 2022. Sale had been reported to have been beneath the ten-year common, whereas new listings reported ranges that had been larger than final yr. 

Within the Burlington actual property market space RAHB reported a complete of 68 residential gross sales. This was a slight lower of 33.3 per cent when in comparison with the identical time final yr. The common worth of a residential property in Burlington was reported to have been $1,098,439, which was a 5.2 per cent lower. 

“There isn’t any query that we now have seen a shift from the unsustainable exercise that occurred all through the pandemic as among the provide challenges have eased. Whereas fewer new properties are being listed beneath $800,000, there are extra alternatives for consumers trying to transfer up out there. The hazard for each consumers and sellers may be attempting to time the market. With circumstances typically turning rapidly or silently, it is very important discuss to an expert RAHB REALTOR® who’s plugged into the native market.” — Lou Piriano, President of RAHB.

For Extra Data About These Statistics 

In case you’re searching for extra data or desire a extra detailed and in-depth matrix of those actual property statistics, please seek advice from the Burlington Actual Property Statistics for October 2022.

Contact the VanDinther Crew

Do you might have any questions in regards to the statistics talked about on this weblog? In case you do one of many unbelievable members of the VanDinther Crew will probably be glad to assist. In case you’ve been questioning what your property is likely to be value, give our “What’s My House Price” calculator a attempt. 

Please be at liberty to contact the VanDinther Crew anytime and somebody will probably be more than pleased that will help you discover the house you’ve been dreaming of. After all of the VanDinther Crew has been working with purchasers within the Burlington and surrounding areas for many years and are right here to Assist You Make The Proper Strikes!

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