By Staff
December 9th, 2017
BURLINGTON, ON
Average days on market for the month of November were 34 and properties were selling for, on average, 95% of the original listing price – very similar to Oakville results.
In both Burlington and Oakville, 58% of the Active listings at the end of November had been on the market for over 30 days.
Year to date for the City of Burlington, sales are down just over 9% and prices are up 14.7% as compared to the same period last year.
The Orchard community is and will always be very desirable.
For the month of November, a few interesting notes: the Orchard community is showing a 6.3% increase for November as compared to the same month last year. There were only 9 sales in the Orchard in November (as compared to 11 in November 2016) and one of the sales was well over $1.4 million which really has to be seen as an outlier, considerably higher than any sale since March.
If you remove that sale, the average price in the Orchard becomes $791,363 which is a considerable decline from November 2016. We think that this will correct itself in the coming months as the Orchard community is and will always be very desirable and at present there are well under 10 properties in the community that are listed at unrealistically high prices.
The other noteworthy communities are Alton Village, Maple, Plains and Aldershot. Year to date, each of these communities continue to show increases in prices of well over 20%.
Year to date, a number of communities continue to show increases in prices of well over 20%.
So the premise is “I think the Orchard prices are really high, let me write an article and reference statistics with small sample sizes, and I’ll eliminate any high value sales to justify my shaky premise, and ignore the price per square foot data.”
The Leafs won 1-0 against Edmonton last night, but if you eliminate the 1 goal, they really had a scoreless draw. Go Edmonton!
Interesting way of analyzing data there…
1) “properties in the Orchard are listed at unrealistically high prices”
Yet the chart says: Orchard homes @ only $393/sq.ft. are the lowest in the city. In other words – Orchard properties are UNDERVALUED.
2) “If you remove that $1.4M sale, the average price in the Orchard becomes $791,363 which is a considerable decline from November 2016”
How does an increase of 17K from 774,000 to 791,363 become a “considerable decline”?
Amazing how one can manipulate statistics. Especially the anti-Orchardists.