Average Sales Price Continues to Rise in Burlington

January 2020

The Oakville Real Estate Board reported that January 2020 number of residential MLS® sales in Burlington were down by 7% compared to the same time last year from 161 in January 2019 to 150 in January 2020. 

The number of new listings were down by 18% from 329 in January 2019 to 270 in January 2020. Inventory remains low at 2.5 months supply. 

When the inventory is low and the demand is high, home prices gains accelerate.According to the figures, that's what is happening in Burlington. The average sales price for all home types $837,536 was up 18% compared to the same time last year.

Average Sales Price For All Home Types

Months Of Inventory (MOI)

The MOI for All Home Types in Burlington was at 2.5 months in January 2020.

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 Sales Price For Different Home Types

Thinking about moving to Burlington?

Buying a home and choosing where to live will most likely be the biggest decision and purchase you’ll ever make. Your neighbourhood is the first thing you'll see when you step out of your home and you want it to suit your lifestyle. Start your Burlington neighbourhood research online by clicking on the links below to find out more about the communities within this wonderful town.

Click here for our updated Monthly Market Report
* Source for statistics, The Oakville Milton and District Real Estate Board. Information is deemed accurate but not guaranteed.