Average Sales Price Up For All Home Types In Burlington

December 2019

The Oakville Real Estate Board reported that December 2019 number of residential MLS® sales in Burlington were down by 15% compared to the same time last year from 124 to 106. The Total number of residential sales in Burlington for 2019 were up 6% compared to 2018 from 2,920 to 3,091.

The number of new listings were down by 30% from 105 in December 2018 to 74 in December 2019. Inventory remains low at 2.2 months supply.

When the inventory is low and the demand is high, home prices gains accelerate. The average sales price for all home types $788,377 was up 10% compared to the same time last year.

Average Sales Price For All Home Types

Months of Inventory

The MOI for All Home Types in Burlington was at 2.2 months in Dec 2019.

MOI tells us how long it would take the listed properties to sell for a given time period, based on the number of sales made during that period.

A balanced market is considered to be between 4 to 6 months inventory, with readings below and above this range indicating seller’s and buyer’s markets respectively.

It’s an important measure of determining the balance between supply and demand in the real estate market. It is calculated by dividing the average number of sales per month by the total number of available homes. When the supply is low, and the demand is high, average sales price trends go up. When the supply is high and the demand is low, average sales price trends go down.

The real estate market is local and statistics can differ from city to city, from neighbourhood to neighbourhood and can differ according to micro niches such as the type of housing.

Average Sale Price For Individual Homes

Thinking about moving to Burlington?

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*Source for statistics The Oakville Real Estate Board. Information deemed accurate but not guaranteed.