Highest ever average real estate Burlington price reached in December.

News 100 greenBy Staff

January 11th, 2020

BURLINGTON, ON

 

A Burlington based real estate agency, the Rocca Sisters, reported that at “the end of December, year to date, the average price of a freehold property was $891,566, up 4.8% from last year.

“There were 1736 sales in 2019, up 3.1% as compared to 2018.

“Days on market were down 9.4% from last year. All things considered, it was a strong year where we saw a fairly balanced market and average gains.

“The more fascinating result from 2019 is the inventory level that remained at the end of the year. The month of December saw 60 sales in total, down 7.7% as compared to December 2018 and sale prices increase by 10.1%. The average price for the month of December was $978,067 which was the highest average price ever achieved in Burlington.

At the end of December there were 123 freehold properties available for sale in Burlington (under $3 million dollars).

To put this into perspective, at the end of December 2016, there were 119 properties listed for sale.

During the intervening years and the years prior, inventory levels were double these numbers. The interesting thing is, properties are still selling for under 98% of the listing price. What does all of this mean for our Burlington clients?

If you are planning to list your home this year, list it early. As to listing price, trust the evidence. Better to list sharp. If the price is right you will either sell for your asking price or possibly attract multiple offers. If you list too high, it’s very difficult to recover in this type of market.

Rocca Dec 2019 numbers.

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