Burlington Real Estate Statistics for July 2022

Real Estate Statistics for July 2022

The statistics mentioned in this article include the entire RAHB market area, as well as a strong focus on the Burlington market. The REALTORS® Association of Hamilton-Burlington (RAHB) reported a total of 811 sales in July 2022 of residential properties within the RAHB market area. The sales of residential properties had a decrease of 18.5 per cent from the previous month. There was also a decrease of 35.6 per cent when compared to July 2021. 

It was reported by RAHB that there was a total of 1,783 new listings within the entire real estate market area. This was a decrease of 29.9 per cent compared to June 2022 and a decrease of 18.6 per cent compared to the same time last year. 

The average price of a residential property within the RAHB market area was $878,816 in July 2022. This was a decrease of 7.1 per cent from the previous month and an increase of 3.9 per cent compared to July 2021. 

We can now take a look a the below chart, Residential Market Activity and get a look at each area within the RHAB market area. We can also see the total number of sales in Burlington as well as the average price of a residential property. 

Residential Market Activity 

The above chart, Residential Market Activity, allows us to get a closer look at the Hamilton and Burlington real estate market. We’re able to see what the average price of a residential property was and how many sales there were in July 2022. Then we can compare those numbers to the previous year. 

It was reported by RAHB that the Hamilton Mountain had the greatest number of sales within the Hamilton market. With a total of 104 sales, we can see that there was a decrease compared to the same time last year. However, when it came to the average price of a residential property we can clearly see there was an increase. The average price of a property in this area in July 2022 was $753,980.

The next area that we’ll take note of is Hamilton Centre. This area had a total of 73 sales it’s the area with the second greatest number of sales within the Hamilton market. We can see that there was decrease in the number of sales when compared to the same time last year. However, just like the Hamilton Mountain we can see that there was an increase in the average price of a property. The average price of a property in this area was $596,425. 

Finally we can take a look at the Burlington area, this area had the greatest overall sales with a total of 182 sales in July 2022. The average price of a residential property in Burlington was $1,142,997. 

Similarly to both the Hamilton Mountain and Hamilton Centre, we can see that there was a decrease in the number of sales but an increase in the average price of a property. Let’s move on the map below and take a closer look at the Burlington real estate market.

Average Residential Price by District 

The above map, Average Residential Price by District, illustrates the different areas within the Burlington real estate market. It allows us to see the total number of sales for each sub area and what the average price of a property was in July 2022. The sub areas that we need to take note of, that had the greatest number of sales were, 31, 34 and 35. 

Located in area 35 is the sought after neighbourhood of Milcroft. This area had the greatest number of sales with a total of 54 sales and an average residential property price of $1,089,829. Another sub area we can take a look at is area 34, with a total of 33 sales and an average residential property price of $1,071,912. The last sub area that we can look at is area 31, with a total of 23 sales and an average property price of $1,132,348. 

You can continue to review this map and see what each area within the Burlington market had in terms of sales and property price for the month of July 2022. Let’s now review the final chart in this article, the Burlington Residential Table.

Burlington Residential Table

The final chart to review is the, Burlington Residential Table, which allows us to get a look at the overall Burlington real estate statistics for July 2022. It was reported by RAHB that there were a total of 364 new listings, this was an increase of 20.1 per cent compared to the same time last year. 

When it came to the number of sales in July 2022, we can see that there was a total of 182 sales. This was a decrease of 29.5 per cent when we compare it to the same time last year. There were 364 new listings in July 2022, this was an increase of 20.1 per cent compared to the previous year. 

It was reported that the average price of a residential property in the Burlington real estate market area was $1,142,997. This was an increase of 10.3 per cent compared to the same time last year. The median price of a property was reported to have been $1,020,000. This was an increase of 4.9 per cent compared to July 2021. 

The next real estate statistics that we’re going to review are the detached, townhouses and apartment-style properties within the RAHB market area. We’ll take a closer look at these different types of properties and compare them to the same time last year. 

Detached, Townhouse and Apartment-Style Properties

The REALTORS® Association of Hamilton-Burlington reported a total of 513 sales detached properties within the entire RAHB market area. This was a decrease of 25.5 per cent compared to June 2022 and a decrease of 37.3 per cent compared to July 2021. 

The average price of this type of property was $985,363. This was a decrease of 6.6 per cent compared to the previous month. However, it was an increase of 4.4 per cent compared to the same time last year. There were a total of 1,146 new listings of detached properties, which was a decrease of 36 per cent from the previous month and an increase of 19.9 per cent compared to July 2021. 

Townhouse sales in the entire RAHB market area saw a total of 159 sales, a 12.6 per cent decrease compared to the previous month. It was a decrease of 28.7 per cent when compared to the same time last year. 

There were 311 new listings of townhouse properties in July 2022. This was a decrease of 28.3 per cent compared to June 2022 and a decrease of 13.1 per cent compared the same time last year. The average price of this type of property was $751,397, a decrease of 3.1 per cent compared to the previous month. It was an increase of 2.1 per cent when we compare it to July 2022. 

When we take a look at apartment-style properties we can see that there was a total of 96 sales in the entire RAHB market area. This was a 15.8 per cent decrease compared to the previous month and a 39.2 per cent decrease compared to July 2021. 

It was reported that there were 223 new listings of apartment-style properties in July 2022. This was a decrease of 2.1 per cent from June 2022 and an increase of 10.4 per cent compared to July 2021. The average price of this type of property was $598,852, a 2.8 per cent increase compared to the previous month. It was also an increase compared to the same time last year, a 14.9 per cent increase. 

REALTORS® Association of Hamilton-Burlington July 2022 Statistics

To summarize, there were a total of 811 sales of residential properties within the entire REALTORS® Association of Hamilton-Burlington market area. This was a decrease of 18.5 per cent compared to the previous month. 

There were a total of 1,783 new listings in the entire market area, which was a 29.9 per cent decrease compared to June 2022. This was an increase of 18.6 per cent when compared to the same time last year. 

The average price of a residential property in the entire RAHB market area was $878,816. This was a 7.1 per cent decrease compared to the previous month. It was a decrease of 3.9 per cent when compared to the same time last year. 

“Unlike June’s figures, there are a number of anomalies in our July 2022 market report. While residential sales and new listings were down overall compared to June 2022, the average sale prices across the RAHB market area were down from June 2022, except in the apartment-style property category. Looking at individual markets, Niagara North experienced double-digit per cent growth of average sale prices in all property categories with the exception of the townhome segment, and Burlington saw a 14.2 per cent increase in average sale price in the apartment-style segment over June 2022. The July 2022 market statistics highlights the importance of consumers using a RAHB REALTOR® to help them navigate the intricacies of each local market.” — RAHB President Lou Piriano

For More Information About These Statistics 

If you would like a more in-depth matrix of these statistics, please refer to the Burlington Real Estate Statistics for July 2022.

Contact the VanDinther Team

Do you have any questions about the Burlington real estate statistics mentioned in this article? Please feel free to contact one of the members of the VanDinther team and they would be happy to help. 

If you’ve been thinking about listing your home but aren’t sure what it might be worth, give our “What’s My Home Worth” calculator a try. The VanDinther team has been working with clients in the Burlington and surrounding areas for decades and are here Helping You Make The Right Moves!