January 2019 Market Insight Report: Condominium (Burlington)
Below you will find the Market Insight Report for condominiums for January 2019 for Burlington. If you have any questions about any of the information below please feel free to contact us at any time.
In January 2019 we saw a 16% increase in the price paid per square foot for condo apartments in Burlington, as compared to the same month in 2018. We have also seen a 40%+ increase in the number of sales. At the end of January 2019, there were 87 condo apartments for sale in Burlington as compared to 81 at the end of January 2018. Average condo fees per square foot are down slightly but relatively stable. The average price on the surface appears to be flat when you compare 2018 to 2019 but with condo apartments, the size of the unit is one of the main influences on price. Using the average price per square foot in January 2019 of $481 and the average size in 2018 which was 1097 (a difference of 145 sq.ft.), the average price would theoretically be $518,000 in 2019.
As the experts in this marketplace, we see it as our mandate to deliver valuable and timely information to our community. What could be more valuable than being on the cutting edge of an exploding condo market?
We all know that Burlington has spread as far north as possible and that the long term city plans are to build up – we will be a city in the sky in the years to come! As condo owners (or would-be condo owners), it is now more critical than ever for you to understand this market – how to correctly assign value, the impact of condo fees and what they cover, amenities that increase value (or decrease value), and how to protect your asset.
We look forward to delivering you the hottest news in condo living and we would be honoured to be your trusted advisor along the way, no matter what your timeline is! Our Relationships Recommend Us!
Call us today to arrange a FREE RSVP Concierge in-home consultation and market evaluation to help prepare you and your condo for maximum value in the Spring market. Get access to our ultimate guide to preparing your condo for sale! Buyers can take advantage of all our buying incentives, including access to our ultimate condo buying guide, legal fee discounts, and condo finance know-how! CONTACT US TODAY
To view our Market Insight Report: Residential, please click here
Monthly Condominium Spotlight:
Each month we will be spotlighting a condominium building in that features a unit currently listed for purchase in Burlington. If you have any questions about this building, please do not hesitate to contact us!
This week, we will be focussing on 1940 Ironstone Drive:
First occupied: 2014
Average price per square foot over last 180 days: $578.72
Selling for just under 99% of the listing price
Model sizes between 555 – 1140 sq. ft
Loft units and one floor units
Condo fees average .82/sq. Ft.
Amenities: 24 hour concierge (adds a significant amount to the cost to operate the building hence, higher condo fees), Party Room, Roof Top Deck/Garden, Exercise Room
If you would like more information about this property, please fill out the form below and we will get back to you as soon as possible!