Market Update: Burlington

The real estate market in Burlington, MA, is bustling with activity, showing strong demand for single-family homes. For those considering buying or selling a home in this popular suburban area, understanding the current market trends is essential. Below, we break down some key statistics for single-family listings in Burlington to give you a clear picture of what’s happening in this market.

Market Overview: Single-Family Listings

As of now, Burlington has 14 active single-family home listings. The town’s housing market continues to demonstrate resilience, with homes being priced to reflect the demand in the area. For homebuyers and sellers alike, here’s what you need to know about the current market trends:

Median Listing Price: $819,450

The median list price for single-family homes in Burlington is currently $819,450. This suggests that the market is geared toward mid-to-high-range homes, with properties priced in a way that reflects the town’s desirable location, excellent schools, and proximity to major highways and Boston. Buyers can expect to see listings that are competitive but also offer a range of options depending on the size and condition of the property.

Median Living Area: 2,089.5 SqFt

Homes in Burlington offer ample living space, with a median living area of approximately 2,089.5 square feet. This is a comfortable size for families looking for spacious homes with room to grow. With this amount of space, potential buyers can typically expect multi-bedroom homes with generous living areas, perfect for those seeking a suburban lifestyle without sacrificing space.

Median List Price Per Square Foot: $389

At $389 per square foot, Burlington’s real estate is priced higher than the Massachusetts state average. This is typical of areas close to Boston, where housing prices are often more competitive due to demand. Buyers will find that homes in Burlington are often priced at a premium due to its convenient location and the excellent amenities the town offers.

Days on Market (DOM) and Days to Offer (DTO)

Median Days on Market: 20 On average, homes in Burlington are staying on the market for about 20 days. While this number may seem relatively low, it reflects the ongoing high demand in the area. Burlington’s prime location, great schools, and close-knit community make it a sought-after destination for buyers, especially those looking for easy access to Boston while still enjoying a suburban lifestyle.

Median Days to Offer: 7.5 For sellers, this statistic is particularly encouraging. The median days to offer is just 7.5, meaning that once a property is listed, it’s moving quickly. This quick turnaround is indicative of a competitive market, with many buyers eager to secure homes before they go under contract. If you’re thinking about listing your home in Burlington, expect a swift process — provided your home is priced correctly and in good condition.

Sale Price Trends

Median Sale Price: $832,500 When comparing listing prices to actual sale prices, we see that homes in Burlington are typically selling for a bit more than their list price. The median sale price in Burlington stands at $832,500, which is slightly above the median list price of $819,450. This suggests that buyers are willing to offer above asking in order to secure a home in this desirable area.

Median Sale Price Per Square Foot: $395 After a home is sold, the median sale price per square foot comes in at $395. This indicates that buyers are paying just slightly more than the listing price per square foot, reflecting the competitive nature of the market. It’s important for both buyers and sellers to recognize that Burlington’s real estate market is dynamic, with potential for bidding wars in certain price ranges or desirable neighborhoods.

What Does This Mean for Buyers and Sellers?

For buyers, the Burlington real estate market is competitive, but with the right strategy, it’s still possible to find your dream home. With homes typically moving off the market quickly, it’s crucial for buyers to be pre-approved for a mortgage and ready to act fast when they find a property they like. Additionally, understanding the local market trends and being willing to offer above the asking price can make a big difference in securing a property in this sought-after area.

For sellers, the market is favorable, with homes generally selling for more than the asking price and moving quickly. This means that it’s an ideal time to list your home if you’re considering selling. To maximize your return, ensure that your home is in top condition, and work with a local real estate agent who understands the nuances of Burlington’s market. Pricing your home correctly is key to getting offers quickly and potentially selling above the list price.

Final Thoughts

Burlington, MA, continues to be a vibrant and attractive market for both buyers and sellers. With median sale prices surpassing list prices and homes moving quickly, it’s clear that demand is strong. Whether you’re buying or selling, staying informed about the local real estate trends is crucial to making the best decisions.

If you’re looking to explore homes in Burlington, now might be the perfect time to get started. With the right knowledge and preparation, you can navigate the current market and find the home of your dreams in this thriving Massachusetts community.

For more information on the Burlington Market check out: https://brianphansen.net/MarketReport