June 2019 Statistics Provided by RAHB
The June 2019 statistics have arrived and were provided by the REALTORs Association of Hamilton-Burlington (RAHB). These statistics help us to better understand the real estate market for not only the Millcroft neighbourhood but for the entire RAHB market area.
Today we'll review the real estate market statistics for the Millcroft neighbourhood and see how they compared to the same time last year. We'll also briefly review the entire Burlington and RAHB market area. Because it can help us to see an overview of the month, these numbers are important for us to better understand the real estate market. Let's now take a look at the chart below, Burlington Residential Market Activity.
When we review the above chart, Burlington Residential Market Activity (Area 35), we can really focus in on the numbers for Millcroft for the month of June 2019. We're able to look at this year and past years to compare how the market did.
There were a recorded 123 new listings with an average price of $686,452. And the sales to new listing ratio was 98% and holding steady when compared to the same time last year. And the average time a property remained on the market was 23 days, same as June 2018. We can now turn our attention to the map, Average Residential Price by District.
The above map, Average Residential Price by District, illustrates the entire city of Burlington. Millcroft is in area 35 and we can see that once again Millcroft has had the highest number of sales of residential properties. And that's no surprise since this is Burlington's most sought after neighbourhood.
There were a recorded 84 sales for the month of June for Millcroft with an average residential property price of $686,452. Burlington had a strong June when compared to the same time last year. And from highway #5 to the bay we can see that this is truly the city and neighbourhood many call home and continue to call home. I believe we should also look at the RAHB overall statistics for the entire market area.
RAHB Statistics for June 2019
There were a reported 1,203 sales of residential properties located in the RAHB market area for June. This was a 4.2% increase compared to June 2018. The average price of a residential property also saw an increase of 5.2% from June 2018 to $593,549.
“The number of sales and average price is up over 2018, showing that the market is edging higher since it balanced out last year. Sales have dropped compared to May and April of this year, but paired with a decrease of about 4% in the number of new listings this could indicate the market is tightening.” – RAHB President Bob Van de Vrande.
For More Information
If you would like to learn more about these statistics for June 2019 you can find more information on our Millcroft Market Stats section of our website.
Contact Lori at We Sell Millcroft
If you're thinking it's time to buy or sell and you're interested in the Millcroft area please contact me today. I would also be happy to go over these real estate market statistics with you and answer any questions you might have. I look forward to working with you and helping you find your dream home.