Burlington Real Estate Market | Ross Bridges Real Estate Team
The winter market is continuing strong with number of sales up 63% from this time last year. The average length of time it is taking to sell a property continues to be low at 21 days, slightly up from November, but not surprising due to the Holiday season.
The number of new listings coming to market in December is down 44% from last month, but up 109% from 2019. However, with the increased activity in the sales, the months of inventory (MOI) is now, at 0.9%. This is deemed a 'Seller's market' - for more details click here.
The average selling price in Burlington continues to rise, up 3% from November and up 23% from this time last year. The overall trend for average price for 2020 is at a 14% increase. What does this mean to you? Real estate is a good investment! Contact us to learn more.
Remember that the different areas within Burlington will make a difference to your numbers; to learn more about the different neighbourhoods, click here to contact us.
Chart from Toronto Regional Real Estate Board (TRREB). Home Price Index - showing price growth over the past decade.
Don't forget to come back next month to keep yourself informed!