By Staff
June 27, 2015
BURLINGTON, ON
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.
The 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!
