When you're buying a home it's important to pick the right location where you can really feel at home. There are neighbourhoods where you will be surrounded by night life and all of the amenities that you could want and need and other places that are a little more quiet and suited to family life. If you're looking for a home with a Burlington or Oakville agent then you will likely notice that there are lots of different options when it comes to the types of neighbourhood and homes available on the market. But, you also need to make sure that the area you choose is within your price range. That's why you should always look at the real estate statistics for the district before venturing out to find your next home.
If you're looking at the real estate statistics for Burlington you will notice that they share a real estate association with the city of Hamilton. That means that all of their numbers are recorded as one. Between the two cities, the average selling price for a single-family home last month was just under $350,000 and condos were selling at around the $230,000 range. This was based on the sales of 692 properties, with 558 of those being freehold properties and the remaining 134 being condos. This is a pretty standard split for the areas surrounding Toronto, from Oakville to Markham as condos increase in popularity from year to year.
Not only does the area within the city make a difference to the price you'll pay, but so too does the "operating cost" of the home -- things like taxes, heat, water and electricity. It is important to look at all of these elements because they dramatically impact the affordability -- both when you are living in the home and, especially, when you go to sell. Here are some resources to help you find out the impact or to allow you to switch from, say, an oil or electric furnace to one heated with natural gas, perhaps augmented with an energy efficient fireplace:
Looking at a chart of a year in home sales in this region shows that generally the most homes are listed and sold during the spring and summer months. This is pretty consistent with other districts in Ontario, like Port Credit or Kingston, because people generally like to move in the warmer months where snow and driving conditions are not an issue. But, over the past three years there has also been an increase in the number of homes sold in December. Between homes and commercial properties, 868 units were sold in this month alone. This is one of the highest sales for that month ever. You mortgage broker will always tell you to look at these trends if you want to get a deal on your home.
When looking for a home in Burlington you should consider working with a realtor. They will be able to help you sift through all of the MLS listings and will be able to give you updated statistics about various neighbourhoods within Burlington.