Is Burlington, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Burlington has remained a Seller's Market.
Key Takeaway
Burlington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Burlington, MA
How much do homes in Burlington, MA cost?
Median Sold Price
$816,666
$400/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Burlington have sold for 10.2% more than they did a year ago.
Summary: The median home sold price in Burlington was $816,666 in May 2024, up 10.2% from last year, and the median price per square foot was $400.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $227.5K | $365K | +60.4% |
| 2 Bedrooms | $639.9K | $735.5K | +14.9% |
| 3 Bedrooms | $710K | $766K | +7.9% |
| 4 Bedrooms | $840.5K | $901.5K | +7.3% |
| 5+ Bedrooms | $1.3M | $1.2M | -5.0% |
Summary: Burlington housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 60.4%, 2 bedroom homes increased by 14.9%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes decreased by 5%.
Median Sold Price Compared To Nearby Cities
| Woburn | $625K | $710.8K | +13.7% |
| Burlington | $741K | $816.6K | +10.2% |
| Wilmington | $669.9K | $700K | +4.5% |
| Lexington | $1.4M | $1.5M | +2.6% |
| Bedford | $925K | $920K | -0.5% |
Housing Supply in Burlington, MA
How many homes are available in Burlington, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 54 | 54 | 0.0% |
Summary: The Burlington real estate market had 54 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 1 | 4 | +300.0% |
| 3 Bedrooms | 19 | 21 | +10.5% |
| 4 Bedrooms | 22 | 14 | -36.4% |
| 5+ Bedrooms | 10 | 14 | +40.0% |
Summary: The Burlington housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 300%, 3 bedroom homes increased by 10.5%, 4 bedroom homes decreased by 36.4%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 15 | -16.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Burlington, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in Burlington in May 2024, down by 16.7% month-over-month. Of the 15 sold homes, 20% were sold under asking, 13% were sold at asking, and 67% were sold over asking.
Days on Market for Burlington, MA
How long does it take to sell a home in Burlington, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 41 Days | 26 Days | -36.3% |
Summary: Homes in Burlington had an average of 26 days on market in May 2024, down by 36.3% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Burlington are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 15 homes were sold in Burlington; 73% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
