Burlington's September Market Update
Thursday Oct 01st, 2020
Burlington's Real Estate Market Update for September
In past years, September has been a month of re-grouping where many people are getting settled into their new homes and starting off the school year. This year however has shown to be much more active in all parts of real estate. There is still a flux of buyers searching for homes whose hopes are that this selling season will prove to be successful for them. On our end, this September has been much more lively than past years. We have a lot of new buyers entering into the market, have been helping others secure homes and preparing some listings for sale. Overall, this month has been keeping true to this year’s trend in a hectic real estate market.
The average price of a home in Burlington has fallen slightly this past month to an average cost of $1,036,000. This is roughly an 11% drop in home prices since August, but a 6% increase in value since last year. This is not to alarm anyone as home prices fluctuate month over month, with the spring and summer months being the most expensive. This trend is due to the high demand of people looking to buy and sell in the warmer months and settling into their new homes before the new school year. I personally like to look at home values year over year, which will give you more inclusive look of the market. The average days on market has been staying strong at 19. We have had more homes listed this month than in August which is surprising. The number of active listings for September was 488 and 372 of those homes sold in the same month. Our list to sale ratio was 76% which is much higher than last years 45%. Overall, September has been a very strong month for real estate.
Click the link below to see our Market Update Video!
We will be watching the news very closely the next few months and updating you all on what is happening. Stay Tuned!
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