Burlington

Burlington

Explore the dynamic real estate market of Burlington, MA, where suburban comfort meets urban convenience. Located in Middlesex County, Burlington offers a diverse range of homes for sale, from charming single-family homes to modern townhouses and luxury condos. Renowned for its excellent schools, vibrant shopping centers, and bustling business district, Burlington is perfect for families, professionals, and retirees alike.

Homes for Sale in Burlington

Burlington, MA - Real Estate Trends Analysis by Key Prime Realty

Burlington, MA’s real estate market has been experiencing significant growth and appreciation in recent years. As of May 2024, the median home price in Burlington reached $860,000, marking a substantial 26.9% increase compared to the previous year. This trend indicates a robust and competitive housing market in the area. The market in Burlington is characterized by high demand and limited supply. On average, homes in Burlington receive 7 offers and sell within 20 days of listing. This quick turnover rate suggests that buyers need to be prepared to act swiftly when they find a property they like. For potential buyers looking to enter the Burlington market, there are several factors to consider: 
  1. Competitive pricing: Homes in Burlington often sell for above list price. On average, properties are selling for about 2-5% above the asking price, with hot homes fetching up to 6-13% more. 
  2. Limited inventory: As of January 2024, there were only 42 homes for sale in Burlington, representing an 8.7% decrease from the previous month. This scarcity of available properties can make it challenging for buyers to find suitable options. 
  3. Price variations by property type: The market shows different trends based on the number of bedrooms. For instance, 4-bedroom homes saw a 5.1% increase in price from January 2023 to January 2024, while 5+ bedroom homes experienced a significant 38.2% jump. 
  4. Neighborhood differences: Prices can vary significantly depending on the specific area within Burlington. For example, the West Side has a median home value of $807,260, while the American Mile area boasts a median of $1,686,061. 
  5. Waived contingencies: In this competitive market, many buyers are waiving contingencies to make their offers more attractive to sellers. While this can give buyers an edge, it also increases their risk. 
  6. Seasonal variations: The market can fluctuate throughout the year, with different months showing varying levels of activity and pricing trends. 
For those considering buying in Burlington, it’s crucial to work with a local real estate agent who understands the nuances of the market. Buyers should also be prepared financially, potentially having funds ready for above-list-price offers and being pre-approved for mortgages to act quickly when opportunities arise. Despite the high prices, Burlington remains an attractive location due to its proximity to Boston, good schools, and strong community. As the market continues to evolve, potential buyers should stay informed about local trends and be ready to navigate this competitive landscape.

Burlington MA Real Estate Market Report

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