The Burlington real estate market followed the national trend and experienced a strong first half in 2008 with more moderate activity in the latter half of the year. This slow down is expected to continue in 2009 with the estimated number of homes changing falling to 11,500, down 6% from 2008.
An increase in the inventory available, coupled with a decrease in the number of unit sales dampened the performance of the Burlington real estate market in 2008. While 2008 experienced a moderate price increase of 4% in the average home value, forecasts for 2009 are forecasting that the average price of Burlington real estate will drop 4%, settling at $268,000 by the end of the year.
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