Burlington Housing Market Report December 2019
Burlington ON Real Estate Trends: December 2019
The Realtors® Association of Hamilton-Burlington (RAHB) stats indicate an overall average home price for Burlington of $802,524 in Dec 2019 as compared to $714,049 (12% lower) for the same period in 2018.
A total of 74 new listings hit the Burlington real estate market in December 2019 and Sales of 102 homes with an average day on market of 31 days and end of month inventory of 1.8.
Months of Inventory (MOI) of 1.8 in December 2019 is tight inventory. MOI is a measure on how fast all the existing homes on the market would last assuming a) no more listings are added, and b) the rate at which homes sell for the same period. This 1.8 absorption rate for Burlington Real Estate Market signals it is a tight market and Seller’s Market. As a general rule, 5-6 Months of Inventory is an indication of a normal balanced market.
Burlington detached homes show average sale price of $1,040,731 in December 2019 as compared to $948,424 for the same period in December 2018. There were a total of 49 sales & only 38 new detached homes listing. Relatively a quite month as expected due to Holiday seasons.
Thinking of moving to Burlington in 2020? Contact local Realtor 647.818.7373