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April showers bring May flowers! Spring is officially here and summer is just around the corner. As we enjoy this change of pace and season, we take a moment to look back on the performance of the Burlington local property market and consider what this means for future trends.
The spring real estate market is booming and remains strong for April 2021. We saw a significant increase in the number of newly listed properties during the month with homes selling quickly. The infusion of new listings combined with the strength in demand set the stage for the average price to increase across all styles of homes in Burlington.
The year-over-year statistics indicate an upward trend, with the average price of a detached home in Burlington now $1,379,982 - up 40.1% from April 2020.
As vaccines become more widely available, pent-up supply from sellers that have been riding out the pandemic in their home for the last year should start to come online. This should continue to fuel the market through the spring and summer months! Are you considering a move? We're here to offer you insights on the current and forecasted market conditions to help you make the most informed decisions about your biggest investment.
We live, work and play in Burlington, and it is our goal to inform and share with you what's happening and why our communities are so special to us. Below you will find the April 2021 Market Snapshot for Burlington!
Across all styles of homes in Burlington, the Average Sales Price increased! Average Sales Price increased 40.1 percent to $1,379,982 for Detached homes, increased 25.1 percent to $811,621 for Semi-Detached/Townhouse homes and increased 29.4 percent to $608,618 for Condos. Across all styles, homes are selling in record time too. Average Days on Market decreased 52.4 percent to 10 for Detached homes, decreased 55.6 percent to 8 for Semi-Detached/Townhouse homes, and decreased 36.4 percent to 14 for Condos. It’s a great time to sell in Burlington!
We would love to provide you with a neighbourhood market update for your area!
Contact us today for your neighbourhood report.