By Staff
October 16th, 2019
BURLINGTON, ON
Freehold Property
The month of September turned in the best results so far this year in terms of sale price increases, which were 11.1% higher compared to September 2018.
Sales were also up, but only slightly, by 1.9%. All of this makes perfect sense as inventory levels were way down – by 18% as compared to the end of September 2018.
Year-to-date, the average price of a freehold property in Burlington was $881,062, which is 4% higher than the same period in 2018.
Sales are also up 4.8% year-to-date as compared to the same period in 2018. During the month of September freehold properties sold for 98.40 of the listing price and in an average of 27 days.
Condominium market:
With very low inventory levels, it came as no surprise that sales were down by 10.2% in the month of September, as compared to the same month in 2018. Sale prices remained flat but the price per square foot jumped up by 11.3%. Condos sold for 99.14% of the listing price and in 22 days during the month of September.
Since houses are an endangered species, and not being built anymore, naturally, they are going to skyrocket. The GreenBelt has ensured that.