Is Burlington, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Burlington was a Seller's Market.
Key Takeaway
Burlington is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Burlington, WA
How much do homes in Burlington, WA cost?
Median Sold Price
$512,000
$332/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Burlington have sold for 11.3% more than they did a year ago.
Summary: The median home sold price in Burlington was $512,000 in May 2024, up 11.3% from last year, and the median price per square foot was $332.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $335K | $460K | +37.3% |
| 2 Bedrooms | $382.5K | $430K | +12.4% |
| 3 Bedrooms | $501.5K | $539K | +7.5% |
| 4 Bedrooms | $599.2K | $622.5K | +3.9% |
| 5+ Bedrooms | $543.7K | $637.5K | +17.2% |
Summary: Burlington housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 37.3%, 2 bedroom homes increased by 12.4%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 17.2%.
Median Sold Price Compared To Nearby Cities
| Burlington | $460K | $512K | +11.3% |
| Mount Vernon | $510.4K | $559K | +9.5% |
Housing Supply in Burlington, WA
How many homes are available in Burlington, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 39 | 56 | +43.6% |
Summary: The Burlington real estate market had 56 homes for sale in May 2024, a 43.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 10 | +11.1% |
| 3 Bedrooms | 20 | 30 | +50.0% |
| 4 Bedrooms | 9 | 13 | +44.4% |
| 5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The Burlington housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 44.4%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 9 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Burlington, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Burlington in May 2024, the same as the previous month. Of the 9 sold homes, 11% were sold under asking, 33% were sold at asking, and 56% were sold over asking.
Days on Market for Burlington, WA
How long does it take to sell a home in Burlington, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 12 Days | 10 Days | -11.5% |
Summary: Homes in Burlington had an average of 10 days on market in May 2024, down by 11.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were 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, 9 homes were sold in Burlington; 89% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.