Burlington July Market Update

Burlington REAL ESTATE MARKET | ROSS BRIDGES REAL ESTATE TEAM

As expected in the summer months, the real estate market has slowed down some with the arrival of the nice weather and people taking time to vacation and escape the city heat! Although perhaps a little slower, the Burlington real estate market continues to be strong! The number of home sales in July 2021 were down from June and July 2020, however, the Average Sale Price has climbed. 16% since July of last year.

While

the number of sales were down from July 2020 (again, a unique year due to COVID and lockdowns) but up from 2019 which was a more typical July for real estate.

While Burlington's new listings were down from both last month and last year - the real estate market remains strong! Inventory remains low with only 0.7 MOI and homes being on the market for an average of only 13 days. With a large number of people looking to buy in Burlington right now, it remains a Seller's Market.

We continue to see firm offers on homes (with no conditions) and situations where sellers have multiple offers to consider. These conditions of limited homes for sale and a multitude of buyers continues to result in homes being sold for more than list price. You'll note the selling price to listing price (Ave SP/LP) is 104% for July. The highest average SP/LP last month was 105% for semi-detached homes.

Employing a knowledgeable and experienced REALTOR® is the best strategy to be successful in buying and selling homes. Our team is here and ready to help you achieve your real estate dreams. We can offer information on things like the difference between a

Seller's Market and Buyers Market and strategies for both buying and selling.

Speak today to our professional REALTORS®, call 905-220-1848 and learn more about the different local markets and types of homes, as we guide you through the selling and buying process.

Buying or selling, we are here to help you! We employ professional stagers and photographers in order to professionally market your home. We have a network of financial advisors who can help you determine your best mortgage options.
Our clients' testimonials speak for themselves! Connect with us to discuss your real estate goals!