Wednesday, June 5, 2019
Real Estate Market
When we take a look at the above chart, Burlington Residential Market Activity, we can see how the neighbourhood of Millcroft did in terms of sales and average cost of a home. The average cost of a home in this neighbourhood for the May 2019 was $675,617 and there were 158 new listings.
The sales to new listings ratio was 74.7% which is a 10% increase compared to the same time last year. And the average amount of days that a home was on the market in Millcroft were 18 days. By looking at the map below, The Average Residential Price by District, you can see where Millcroft is located (sub area 35) and not only what the average price of a home was but also the amount of sales there were in May 2019.
When we review the above map, The Average Residential Price by District, we can compare Millcroft (sub area 35) to other areas in Burlington. And the map also shows that Millcroft had 118 sales, the highest number compared to the other areas.
And with 124 active new listings and with a sales to listing ratio of 99.4% and the average sale price of $659,500, It’s clear that this truly is the most sought after neighbourhood in Burlington. RAHB also reports on the entire Burlington and Hamilton market, we have included those numbers below. It’s good to know because it helps us understand the stats for Millcroft.
It was reported by the REALTORs Association of Hamilton and Burlington that there were a total of 1,344 sales within the RAHB market area. There was a 10.9% increase from May 2018, 9.6% increase over April 2019 and a 30.2% increase over March 2019.
“The number of sales increased double digest over last year and the number of new listings decreased by 5.2%, indicating that we are in the thick of a busy spring market for sellers. And prices only increasing an average of 0.9% over last year means buyers haven’t watched prices soar while they find the perfect home” - RAHB President Bob Van de Vrande.
If you would like to learn more about the May 2019 statistics, please refer to the Millcroft Market Stats page on our website.
Contact Lori at We Sell Millcroft
Have you been thinking about selling your home? Are you interested in Burlington’s most sought after neighbourhood? Lori can provide knowledge about the latest market and work with you to find your dream home, contact Lori today.