Burlington, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $950,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $650,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 3.0% |
| Stock on market | 1.5% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $850,000 |
| 3 bedrooms | $950,000 |
| 4 bedrooms | $1,100,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $600,000 |
| 2 bedrooms | $700,000 |
| 3 bedrooms | $800,000 |
Demographics
| Current Population (2024) | 185,000 |
| Previous Population (2019) | 180,000 |
| Population Change | 2.8% |
| Total Private Dwellings | 78,000 |
| Occupied Private Dwellings | 74,000 |
| Population Density (per km²) | 2.4 |
| Land Area (km²) | 116.0 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Burlington, Ontario is currently experiencing a period of steady growth. With a median house price of $950,000, the market has seen a year-over-year increase of 4.2%. This indicates a healthy demand for housing in the area. Meanwhile, the apartment sector is also demonstrating resilience, with the median apartment price standing at $650,000, and a year-over-year price trend showing an increase of 3%. The consistent growth in both housing types reflects Burlington’s overall stable real estate market.
Additionally, the population of Burlington stands at approximately 185,000 residents, with a robust population growth rate of 2.8%. This demographic expansion suggests that the demand for housing is likely to continue due to new residents seeking accommodation in the city.
Investment Opportunities and Potential
Investment opportunities in Burlington’s real estate market appear promising due to the sustained growth in property values and population increases. The positive trends in house and apartment prices point towards a favorable environment for real estate investment.
Potential investors should consider single-family homes due to their higher appreciation rate of 4.2% compared to apartments. However, apartments present an attractive option as well, particularly for those looking to tap into the rental market or seeking lower entry points into property investment. With ongoing population growth, demand for rental properties is expected to rise, which could lead to increased rental yields over time.
Future Market Outlook
The future outlook for Burlington’s real estate market remains optimistic. The strong economic fundamentals of the region, coupled with its population growth, suggest that the demand for housing will persist. Barring unforeseen economic events or significant policy changes affecting homeownership, we anticipate that Burlington’s housing market will continue on its upward trajectory.
The current trends indicate that investing in Burlington’s real estate could offer stable long-term returns due to the city’s growing population and economic stability. Prospective buyers and investors should keep an eye on local development projects and infrastructure improvements as these factors could further stimulate market growth and property values in the coming years.
