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In this articles we’ll be reviewing the Burlington Real Estate Statistics for August 2022. The REALTORS® Association of Hamilton-Burlington (RAHB) reported a total of 906 sales of residential properties within the RAHB market area. The sales of residential properties had an increase of 11.7 per cent from the previous month. However, there was a decrease of 24.2 per cent when compared to August 2021. The real estate statistics in this article reflect both the Burlington area and the entire RAHB market.
RAHB reported that there was a total of 1,641 new listings in August 2022. When we compare the number of new listings to the previous month we can see there was an eight pre cent decrease. However, when compared to August 2021 there was an increase of 20 per cent.
The average price of a residential property within the entire RAHB market area was reported to have been $858,405. This was a 2.3 per cent decrease compared to July 2022 and an increase of two per cent compared to the same time last year.
Let’s now take a look at the first chart, Residential Market Activity, and get a closer look at each area within the Burlington and Hamilton real estate market. We’ll be able to see the total number of residential sales as well as the average price of a property in Burlington and compare that to the other areas.
Residential Market Activity
The above chart, Residential Market Activity, gives us the opportunity to compare and contrast both the average price of a residential property and the number of sales within each area. The areas that we can review are in Hamilton and Burlington real estate market.
It was reported by RAHB that the area with the greatest number of sales within the Hamilton market was the Hamilton Mountain. This area had a total of 126 sales and an average residential property price of $745,741. While there was a decrease in the number of sales, we can see there was an increase in the average property price. This is clear when we compare it to the previous year.
The next area we’ll review is Hamilton Centre, this area had a total of 79 sales and an average property price of $543,768. Similarly to the Hamilton Mountain, this area saw a decrease in the number of sales but an increase in the average residential property price in August 2022.
It’s clear that Burlington had the greatest number of sales in August 2022 when compared to the other areas listed in the above chart. Burlington had a total of 209 sales of residential properties in August 2022.
This was a slight decrease when compared to the same time last year. The average price of a residential property was reported to have been $1,038,930, a slight decrease when compared to August 2021. Let’s now take a look at the below map and get a closer look at the Burlington real estate market.
Average Residential Price by District
The above map, Average Residential Price by District, illustrates the Burlington real estate market. The map then breaks the city down into sub areas and allows us to see the average price of a home and the total number of sales in August 2022. Sub areas that we need to take note of for August 2022 that had the greatest number of sales are, 31, 32, 34 and 35.
Area 35 is the most sought after area and is in the Milcroft neighbourhood. This area had the greatest number of sales in the Burlington real estate market with a total of 69 sales. The average price of a residential property in this area was $1,024,788. List below are the other sub areas that had the greatest number of sales and their average residential property price.
- Area 31 — 37 sales and an average residential property price of $1,007,751
- Area 32 — 24 sales and an average residential property price of $974,839
- Area 34 — 33 sales and an average residential property price of $987,242
While each of the areas listed above had a great number of sales for the month of August 2022, there are other areas you can review. You might even want to located the area that you live in and get an idea of what a residential property might have sold for on your street. Next we’ll review the final chart the Burlington Residential Table.
Burlington Residential Table
The final chart that we’ll review in this article is the Burlington Residential Table. This table gives us the chance to see a more detailed look at the August real estate market in Burlington. RAHB reported that there were a total of 360 new listings which was an increase of 11.7 per cent compared to August 2021.
When we look at the number of sales in August 2022 we can see that there were a total of 209 sales. This was a decrease of 10.3 percent when compared to the same time last year. The average price of a residential property in Burlington was reported to have been $1,038,930. This was only a small decrease of 1.5 per cent when compared to August 2021.
The median price was $939,900 and was a very small decrease when compared to the same time last year. There are a lot of numbers to review and compared in this chart, helping us to better understand the Burlington real estate market. There are three different types of properties that RAHB reports on and below is a break down of each of these property types.
Detached, Townhouse and Apartment-Style Properties
It was reported by RAHB that there were a total of 562 sales of detached properties in August 2022. This was a decrease of 23.7 per cent when compared to the same time last year. There were a reported 1,077 new listings of this type of property, which was an increase of 20.2 per cent compared to August 2021. The average price of a detached property within the RAHB market area was $963,565. This was an increase of 1.4 percent compared to August 2021.
Townhouse properties had a total of 178 sales within the entire RAHB market area. This was an 11.9 per cent increase when compared to the pervious month. However, it was a decrease of 24.9 per cent when compared to the same time last year.
There were 256 new townhouse listings, this was an increase of 16.4 per cent compared to August 2021. When it came to the average price of this type of property, it was reported to have been $749,344. Which was a very small increase of only 0.4 per cent compared to the previous year.
The final property type we’ll review is the apartment-style property, which had a total of 108 sales in August 2022. This was a 31.6 per cent decrease when compared to August 2021. There were 221 new listings of apartment-style properties in August 2022, an increase of 22.1 per cent compared to the same time last year. The average price of this type of property was reported to have been $570,666. This was an 8.7 per cent increase compared to the same time last year.
REALTORS® Association of Hamilton-Burlington August 2022 Statistics
The REALTORS® Association of Hamilton-Burlington (RAHB) reported a total of 906 sales of residential properties within the entire RAHB market area in August 2022. This was a 24.2 per cent decrease when compared to August 2022.
There were a reported 1,641 new listings within the entire RAHB real estate market area in August 2022. This was a 20 per cent increase when compared to the same time last year.
The average price of a residential property within the entire real estate market was reported to have been $858,405. This was a small increase of only two per cent when we compare it to the previous year.
“RAHB witnessed a rare occurrence for August 2022 as the number of sales increased and the number of new listings to market dropped from July 2022. As this is not a typical pattern for August, this may suggest that sales activity may have bottomed out in July. Meanwhile, RAHB is again seeing certain areas and property categories performing better than others. For example, Haldimand County experienced an overall residential average sale price increase of 3.9 per cent, and the townhouse segment in Burlington saw an average sale price bump of 5.6 per cent. With these variations in mind, contacting a RAHB REALTOR® before you buy or sell remains a key element to help you navigate the local market.” — RAHB President Lou Piriano.
For More Information About These Statistics
If you would like a more in-depth matrix of these Burlington Real Estate Statistics, please refer to the Burlington Real Estate Statistics for August 2022.
Contact the VanDinther Team
You might have some questions about the Burlington Real Estate Statistics mentioned in this blog. Please feel free to reach out to the VanDinther Team and someone will be happy to help answer any of your questions.
Have you been wondering what your home might be worth? Give our “What’s My Home Worth” calculator a try and find out. The VanDinther Team has been working with clients in the Burlington and surrounding areas for decades and are here to Help You Make The Right Moves!
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