March 2019 Market Insight Report: Condominium (Burlington)
Below you will find the Market Insight Report for condominiums for March 2019 for Burlington. If you have any questions about any of the information below please feel free to contact us at any time.
Average prices were down 1.3% in March as compared to the same period last year. Average prices per square foot however, were up 8.5%. This may seem a little confusing at first blush but one explanation is that newer condos sell for higher prices per square foot and are smaller, on average, than older condos, pushing that price per square foot up. The average size of a unit sold in March 2019 was 978 sq. ft. as compared to 1067 sq. ft. in 2018. It took slightly longer to sell a condo apartment in March 2019, up from 28 days in March 2018 to 29 days in March 2019. Condo apartments sold for 98.07% of the listing price on average during the month of March. Condo fees in March 2019 were on average .58 per square foot. An interesting sale in the month of March was a 2325 sq. ft. waterfront condo with $1600+ monthly maintenance fees (.69/sq.ft.) selling for $537/ sq. ft. in less than a week!
Monthly Condominium Spotlight:
399 Elizabeth Street [The Baxter]
First occupied: 2006
Average sale price: $778,000
Average size: 1300 sq ft
Average price per square foot: $598
Average days on market: 21
Condo fees average:
Number of units: 122
Concierge / security, rooftop BBQ deck, gym & steam room, party room w/ billiards & games, parking garage & lockers.
Included in condo fee: air conditioning, common element maintenance, heat, hydro, building insurance, and water.
To view our Market Insight Report: Residential, please click here
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