These Were the Hottest Housing Markets in Burlington in June
There's no denying that real estate prices, and sales are constantly fluctuating in the Greater Golden Horseshoe in Ontario. However, according to a recent Zoocasa blog post, sales have exploded by 31 per cent in Burlington specifically over the last 10 years.
And the increasing demand in Burlington is likely driven by its affordability (comparable to Hamilton). Zoocasa says that although prices have more than doubled in Burlington over the past 10 years, roughly to about an average price of $738,905, this is still drastically lower than the Toronto average of $915,481.
The blog post also noted that there is only one market in Burlington that is currently considered to be a buyers' market, while three are considered to be balanced, and four are considered to be sellers' markets.
So, what housing markets have been the hottest in Burlington recently?
Well, according to the blog post the Dynes, Longmoore, and Pinedale markets were the most competitive in June.
These markets remain deep in sellers' territory with a sales-to-new-listings ratio (SNLR) of 77 per cent, which is up from 63 per cent.
"Sales rose a voracious 14% across these neighbourhoods while new listings retracted by -6.2 per cent," reads the blog post. That’s boosted the average home price by 7% to $688,853.
On the other hand, the Roseland, Shoreacres, and Elizabeth Gardens neighbourhoods remained on the lower end of being a balanced market. According to Zoocasa, there was an SNLR of 52 per cent, which was down by one per cent year-over-year.
The following graphic outlines the markets that were the most competitive for buyers in June.
Graphic is courtesy of Zoocasa.
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