Burlington real estate sales still setting new records - inventory is scarce.

News 100 blueBy Pepper Parr

March 13th, 2017

BURLINGTON, ON

 

Real estate sales are beginning to read like gossip columns – people want to know what houses in their neighbourhood are going for – they think that maybe this is the time to sell – and if that is the kind of thinking you are doing the Rocca Sisters would love to hear from you.

“If you were to ask a top producing realtor in Burlington if they thought the number of sales were down in January 2017 as compared to 2016 and without the benefit of the statistics Rocca provides on a regular basis, they would almost certainly say that they were way down. That inventory levels were at an all-time low and that prices increased exponentially”, reported the Rocca organization

Rocca year to date Burlington March 2017

Some startling numbers – great for sellers, providing they don’t intend to by something else in the city.

“In fact, sales were up in January – the big difference being days on market. More than half of the properties sold in under 7 days in January and almost 2/3rds sold for the asking price or considerably more.

“The biggest standout was a 2 storey semi in Alton Village that sold for just under $772,000, almost 23% over the asking price. There are a few anomalies that emerged in the stats – the Maple area hasn’t suddenly increased in value by 67% – there were a couple of very unusual sales that have skewed that number for the month.

“Roseland has not seen an enormous drop in value – just several fixer upper opportunities sold during the month”, they added.

The real stories, according to the Sisters, is in Headon Forest, sale prices up 33% – that’s a real number. Millcroft, sale prices up 32%.

Alton Village is not a cheap place to live - it is also sassy and brassy - these people worked hard to be able to live in this community and they are going to make the city a different place.

Alton Village is not a cheap place to live – it is also sassy and brassy – these people worked hard to be able to live in this community and they are going to make the city a different place.

“Palmer, sale prices up 41% and finally, Alton Village seeing an almost 37% swing in sale prices. We feel certain that we are going to see considerably more inventory coming on the market in the coming months – we just don’t see any end to the vast numbers of buyers scooping up these properties at any cost.”

The hovering questions is – how long can this last.

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