Burlington residential is a sellers market.

News 100 yellowBy Staff

November 8th, 2019



The average price of a freehold property in Burlington in October was $938,897, up 5.5% as compared to October 2018.

Sales were up slightly, but the bigger news was the low inventory levels, which were down 25% from last year at the end of October.

Year to date, the average price was $884,125, up 4.1% over last year, and sales were up 4.5%. Properties sold for just over 98% of the asking price on average in October, however almost 30% of them went for the asking price or more.

Burlington clearly can be described as a sellers market and if inventory levels remain this low, prices will inevitably be pushed upwards.

Rocca residential Nov 2019

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2 comments to Burlington residential is a sellers market.

  • Alfred

    Hans I agree with you. A little more detail would be nice. The reality is the new single family home permits have dropped off substantially. 40 homes a year in a City of 200,000 people does not cut it. Creating housing shortages.. Resulting in the never ending escalation of house prices. So you ask why are builders not building more houses in Burlington? Many of the builders that worked in Burlington made the decision to stop building in Burlington and move on to other Cities. The obvious reason is over regulation. Why wait a year to satisfy all conditions to get a building permit when you can have a building permit in hand anywhere else in 2 to 3 weeks. There are only a couple of councilors on this present council that understand this. The others appear to be only interested in trees and providing affordable housing for the poor. While forgeting about the young hard working couples that have to live in other Cities because they can’t afford to live in Burlington. An interesting statistic.some of you may want to dig up is how many people who work for the City of Burlington actually live here. That might magnify the problem somewhat.

  • Hans Jacobs

    These data would be more useful if they showed sizes/prices/price per square foot/number of bedrooms separately for condominium apartments, townhouses, and houses.