Burlington Real Estate Market Update for May 2020
Monday Jun 01st, 2020
Hey Burlington, thank you for tuning into Live Life Burlington. I'm Natalie with the Nat and Nate Real Estate Team here to talk about the real estate market for the month of May. When talking to our clients this past month, we've noticed an overall positive shift. They're more optimistic and excited about reaching their real estate goals that they set out at the beginning of the year, but put on hold for the months of March and April. We're here to help you guys reach your real estate goals and to flourish, so when you're excited, that just makes us excited and makes us love what we do that much more! This new outlook of buyers and sellers has definitely translated in the statistics for the month of May. I'm happy to announce that home values have increased for Burlington from last month and from last year. We're seeing a huge positive shift in the real estate market. The average price for a home in Burlington is $985,000 with an average of 30 days on the market. Last year we noticed for the month of May it was 28 days, so we're very close to what we were dealing with last year. We had 417 active listings last month. That may sound like a lot, but in actuality it isn't. Last year we were looking at around 600 active listings for May, thus we're down from last year. What we've noticed, we have buyers and we do not have enough homes to show them. We have buyers with not enough homes! That's why you guys are seeing multiple offers again happening all around Burlington. If you were thinking of selling your home this year, now is a greta time. Buyers are ready to get into the market. They do not want to hit snooze anymore. They are active! The list to sale ratio for last month was 46% which is higher than last month and very close to last year's, which was 55%. All these changes affect home values, including yours. So if you are wondering what your home is currently worth or if you're looking to get into the real estate market, send me a message. I'd love to chat.
I hope you guys are all keeping safe during this time. If you have any questions, please leave a comment. I will be happy to answer them for you. Thank you for tuning in.
Click to see the full video: https://youtu.be/0gEoJAg-LUQ