Burlington Housing Market Overview
As we begin 2025, the Burlington housing market is showing signs of caution, with sales and inventory levels slightly down from previous months. However, opportunities still abound for both buyers and sellers, as the market adapts to changing conditions. Here's what you need to know:
Key Market Trends – January 2025
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Sales & Listings:
- Sales decreased by 16.4% year-over-year, with 112 residential units sold in January.
- New Listings increased by 13.4%, providing more options for buyers.
- Inventory grew by 20.8%, with a rise in months of supply across most property types.
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Price Trends by Property Type:
- 1-Storey Detached Homes: Prices remained stable with a slight drop of 0.1% month-over-month. However, they’ve increased by 7% year-over-year, now at a
- benchmark price of $1,340,200.
- 2-Storey Detached Homes: Saw a 10% increase from December 2024, reflecting strong demand. The benchmark price is now $1,340,200.
- Townhomes: Prices increased by 4% from the previous month, showing steady demand for this property type.
- Apartments: Prices decreased by 1.1% compared to December, continuing a trend of slower growth in the apartment sector.
Market Supply & Demand
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Months of Supply: Inventory levels have risen, and the months of supply have increased across property types, ranging from a low of 2.5 months for row properties to nearly 4 months for apartment-style units. This suggests a more balanced market, giving buyers a bit more negotiating power.
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Consumer Sentiment: Despite the slight improvement in inventory, consumer confidence remains cautious, partially due to ongoing economic uncertainties and limited changes in mortgage rates. As a result, many buyers and sellers are adopting a more measured approach.
What This Means for Buyers & Sellers
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For Buyers: The market offers more inventory and balanced conditions, particularly in detached homes and townhomes. If you’ve been looking for the right home, now is a great time to explore options and potentially find a property that suits your needs.
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For Sellers: The rising prices in detached homes and the increased inventory suggest that well-priced homes are still in demand. It’s important to position your home competitively and ensure it stands out in a market with more options.
Why Work with Martin Group?
At Martin Group, we have a deep understanding of the Burlington housing market, backed by years of experience helping clients navigate changing market conditions. Whether you are buying or selling, we provide expert advice tailored to your needs, helping you make informed decisions every step of the way.
Contact Us Today
Ready to take the next step in your real estate journey? Reach out to Martin Group today for a personalized consultation. We’ll provide you with the insights and guidance needed to make the most of the current market.
