By Staff
May 7, 2015
BURLINGTON, ON
The Rocca Sisters, a noted Burlington Real Estate agency, has provided us with a review of the first quarter of 2015 real estate sales broken down by area, along with thier latest forecasts for the year ahead.
It would appear that, for the first quarter at least, some neighborhoods in Burlington are achieving a more balanced market condition than others. Aldershot south being a terrific example. Sales are up significantly, values are stable with a moderate increase and days on market have increased suggesting that buyers are unwilling to pay a premium given the availability of inventory.
Parts of south Burlington are seeing unusually high days on market as compared to the same period last year which suggests that while there are more buyers than sellers, hence the increase in values, asking prices have been somewhat inflated and have had to in many cases, reduce before selling.
Headon Forest, Tyandaga and Palmer continue to outstrip the Orchard and Millcroft in terms of increases in values year over year. Buyers are seeing these comparably moderately priced neighborhoods as viable alternatives to these incredibly unbalanced markets. Millcroft continued it’s skyrocketing increase in value while the Orchard cooled a little in the first quarter due mainly to significantly reduced inventories and a natural ceiling on what buyers will/can pay for a family home in this neighborhood.
Central Burlington saw a huge increase in values due mainly to the concentration of sales being in the actual core as opposed to the same period last year when the majority of sales were the outer limits of downtown Burlington.
Alton Village saw a significant increase in value but when you drill down, it appears to be more a case of the type of home that has predominantly sold in 2015 which was the 3000+ sq.ft. homes.
Finally and notably, Roseland has now achieved an average price of over one million dollars.
Here is what the numbers – Courtesy of the Rocca Sisters – look like by neighbourhood:
