Burlington
established 1873
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About Burlington
Burlington has the best of both worlds, with the Niagara Escarpment in its backyard and Lake Ontario in its front yard. Residents can enjoy waterfront activities along 5.6 kilometres of parkland on the shore of Lake Ontario, or hiking on 31.6 kilometres of multi-use trails.
Burlington is close to major transportation and to the cities of Hamilton and Toronto and to the U.S. border. It is a prosperous city with a small-town feel that is home to more than 183,000 people.
The city offers world-class urban amenities, including shopping and dining and is home to some of Ontario’s top festivals and events. Attractions include the Royal Botanical Gardens and the Burlington Performing Arts Centre.
market update
market update
Comparative Analysis
| 2022 | Y/Y | M/M | |
|---|---|---|---|
| Sales | 108 | -35.7% | -29.4% |
| New Listings | 279 | 25.1% | -8.5% |
| Average Sale Price | $1,639,545 | 10.0% | 3.5% |
| Median Sale Price | $1,347,500 | 0.6% | -4.1% |
| SNLR* | 38.7% | -36.6% | -11.5% |
Source: TRREB Market Watch Report – Summary of Existing Home Transactions (Detached)
*SNLR (Sales-to-New-Listings-Ratio)
- SNLR at 55% or more indicates a seller’s market; more buyers than properties for sale
- SNLR between 34% and 54% indicates a balanced market; about the same number of properties for sale as there are buyers
- SNLR at 35% or less indicates a buyer’s market; more properties for sale than there are buyers
burlington
burlington
June 2022
Higher borrowing costs continued to impact home sales in June 2022. The Toronto Regional Real Estate Board (TRREB) has released its latest market stats, which show a 41 percent decline in sales compared to last year across all housing types. The average selling price, at $1,146,254, remained 5.3 per cent above the June 2021 level, but continued to trend lower on a monthly basis. Month-over-month the average selling price dipped by 5.5 per cent.
While the number of transactions was down year-over-year, the number of new listings was up in most of our service areas. This has provided for an even greater shift into a buyer’s market, resulting in a more moderate annual pace of price growth.
“Our region continues to grow because we attract people and businesses from all around the world. All of these people will require a place to live, whether they choose to buy or rent. Despite the shorter-term impact of higher borrowing costs, housing demand will remain strong over the long-term, as long as we can produce homes within which people can live. Policy makers at all levels need to make this their key goal,” said TRREB CEO John DiMichele.
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