Residential re-sale prices brisk; up 17.7 % year over year.

News 100 blueBy Staff

June 27, 2015

BURLINGTON, ON

Millcroft millhouse

Gateway to the Millcroft community where average resale price was just under$1 million

A few interesting observations – 15 of the 197 May sales in Burlington were over a million dollars as compared to 6 sales over a million same period last year.
Average days on market for those 6 sales was 64 days. Average days on market for the 15 sales this year was 22. Equally as interesting, there were only 3 sales under $400,000.

Hot spots in May were in the Orchard as usual, Roseland – particularly in the transitioning areas, Headon Forest – strong sales but slightly longer days on market. Homes in this neighborhood are a little more difficult to evaluate. If they are fully renovated, they are selling for very similar prices to homes in the Orchard.

Rocca sisters sales data for MayThe attraction being that you get a 50×100 foot lot as opposed to 36×85 in the Orchard. Average price paid for a house in Millcroft in May was $991,700 – sold in under 20 days and for 99% of the asking price!

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