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Burlington Housing Market Report

Burlington Housing Market Report August 2024

By Patrick Ross · Reviewed By Jacob Norris · Last Updated September 10, 2024
Burlington housing market report

Burlington housing market overview

  • The average home price in Burlington was $1,178,429 — a 9.53% year-over-year increase.
  • The median home price in Burlington was $997,500 — a -0.15% year-over-year decrease.
  • The average detached home price increased 9.1% year-over-year to $1,534,410
  • The semi-detached home price decreased -0.28% year-over-year to $963,000
  • The condo townhouse home price increased 2.71% year-over-year to $826,175
  • The average condo apartment home price increased 11.02% year-over-year to $742,102

Table of contents

Average home price trends

The average home price across all property types in Burlington was $1,178,429. Home prices have increased 9.53% year-over-year compared to the average home price of $1,075,897 the prior year. The average home price across all property types saw a 4.6% month-over-month increased from the average home price of $1,126,610 the prior month. Here is how the average home price has changed across property types.

Read More: Toronto (GTA) Home Prices

Property Type Average M/M Y/Y
Detached $1,534,410 +1.86% +9.1%
Semi-Detached $963,000 +1.83% -0.28%
Condo Townhouse $826,175 +4.59% +2.71%
Condo Apartment $742,102 +0.51% +11.02%

Important Market Metrics

Sales

Burlington home sales history

Total sales in Burlington were 156 which is a -15.68% increase from 185 sales the prior year. Here is how the sales are broken down by property type:

  • Detached: 79 — a -5.95% Y/Y decrease
  • Semi-Detached: 3 — a -57.14% Y/Y decrease
  • Condo Townhouse: 28 — a -12.5% Y/Y decrease
  • Condo Apartment: 38 — a -2.56% Y/Y decrease

Inventory

The housing inventory this month is 2.5 months which is up from 2.4 months of inventory the prior month and 1.9 months the prior year. Housing inventory this month is much higher than the historical 5-year average which is 1.51 months of inventory.

Listings

Burlington had total new listings of 358 which is a 5.6% Y/Y increase and -14.96% M/M decrease.

Sales-to-new-Listings Ratio

The sales-to-new listing ratio is an important metric as it helps us to understand the balance of supply and demand in the housing market which helps determine who has the majority of negotiating power in the housing market. The sales-to-new-listings ratio (SNLR) in Burlington was 48.9% in August 2024. The SNLR indicates a buyers market market with a SNLR ratio that falling below 40%.

Home prices in Burlington

Burlington historical home prices

All property types

The highest historical average home price in Burlington was $1,457,249. The highest historical median home price was $1,350,000.

Stat August 2024 Y/Y Change
Average Price $1,178,429 +9.53%
Median Price $997,500 -0.15%
Sales 156 -15.68%
New Listings 358 +5.6%
Active Listings 643 +61.96%

Single-family detached home prices in Burlington

Stat August 2024 Y/Y Change
Average Price $1,534,410 +9.1%
Median Price $1,325,000 +0.38%
Sales 79 -5.95%
New Listings 164 -10.87%
Active Listings 285 +21.79%

Semi-detached home prices in Burlington

Stat August 2024 Y/Y Change
Average Price $963,000 -0.28%
Median Price $999,000 +6.28%
Sales 3 -57.14%
New Listings 17 +54.55%
Active Listings 25 +127.27%

Condo townhouse prices in Burlington

Stat August 2024 Y/Y Change
Average Price $826,175 +2.71%
Median Price $770,000 -0.96%
Sales 28 -12.5%
New Listings 51 +50%
Active Listings 77 +133.33%

Condo apartment prices in Burlington

Stat August 2024 Y/Y Change
Average Price $742,102 +11.02%
Median Price $620,000 +8.77%
Sales 38 -2.56%
New Listings 97 +24.36%
Active Listings 209 +120%

See other home prices around the GTA:

source: TBREB; CREA