2011 Burlington Average house price up over Seven Per Cent from Last Year

 

Average House Price Up Over Seven Per Cent from Last Year

 

(January 12, 2012 – Hamilton, Ontario) The residential real estate market in Burlington saw a 7.2 per cent increase in average sale price in 2011 when compared to last year, according to Multiple Listing Service® (MLS®) statistics released today by the REALTORS® Association of Hamilton

 

Burlington (RAHB). The average sale price rose to $413,432 from $385,673 last year.

The residential freehold market saw less than a one per cent drop in sales compared to last year, but sales were still higher than the 10

 

 

year average. Average sale price rose 7.6 per cent to $484,242.

Sales in the residential condominium market were just a fraction below last year’s sales and still higher than the 10

 

 

year average. The average sale price of a condominium rose 5.4 per cent from last year, to $280,731.

Listings were down to both last year and the 10

 

 

year average.

"2011 was a good year for real estate in the Burlington area," said RAHB President Cameron Nolan. "Sales in all categories were at or better than average, which is better than the RAHB market area as a whole."

 

Nolan held a press conference today to announce the year end results for the Greater Hamilton, Burlington and outlying areas, and forecast what is in store the real estate market for 2012. Nolan noted that consumer confidence is a major area of concern going forward as, according to a survey sponsored by the Economic Club of Canada, a majority of Canadians believe the country is in a recession despite the fact Canada has not been in recession since 2009.

 

"Given the caution Canadians are showing, we are anticipating that sales through 2012 will remain close to 2011 levels, and that the average sale price will increase slightly above the inflation rate," said Nolan.

 

The numbers in Burlington for 2011:

 

 

Residential Only

2010 2011 % change 10year average Listings

3958

 

3730

 

5.8%

3879

 

Sales

 

3315

 

3285

 

0.9%

3257

 

Average Sale Price

 

$385,673

 

$413,432

 

7.2%

 

N/A

 

Daniella Aitken

Daniella Aitken

Sales Representative
CENTURY 21 Miller Real Estate Ltd., Brokerage*
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