When you’re looking for the perfect luxurious home, you’ll likely want to look at the Burlington luxury homes for sale. Finding just any home can be tough in popular locations like Burlington. However, finding your dream home that will suit your needs is even harder. It’s not impossible, though. You can have all the features you require with some of Burlington’s best luxury homes.
In this post, we’ll explain the Burlington luxury home market. We’ll cover everything you need to know before you start house hunting. You will also learn some of the best options and communities for luxury properties. Plus, we’ll explain how to find the best listings.
- Luxury homes in communities like Shoreacres, Roseland, Elizabeth Gardens, Tyandaga and Alton Village
- Finding an expert realtor who understands the Burlington luxury market will help buyers succeed
- Burlington and a value of at least $1.5 million usually define “luxury homes,” but some luxury properties can be found for less
- Luxury homes have upscale features like name brand appliances, entertainment areas and offices, and pools
What’s the Current State of the Burlington Luxury Real Estate Market?
Luxury is a subjective term and means something differently to most people. The real estate industry in Burlington typically classifies a home listed at $1.5m or more as luxury. To fully understand the current luxury real estate market in Burlington, it is important to understand what has transpired since 2022.
2022 Burlington Luxury Real Estate Market
Slowing Down Slightly – After a hot 2021, the luxury market in Burlington cooled marginally in 2022 as inventory rose and sales dropped. Activity remained healthy throughout 2022.
Home Prices Flattening – The average sold price for luxury homes over $2 million plateaued in 2022 compared to 2021’s surge. Prices are stabilizing but remain elevated.
Inventory Up Year-Over-Year – More luxury listings came onto the market in Burlington in 2022, increasing choice for buyers. Inventory was up 17.4% from 2021.
Sales Volume Dropping – Luxury home sales fell in 2022, with 237 homes over $2 million sold versus 310 in 2021.
Balanced Market Conditions – With more listings and fewer sales in 2022, the luxury segment shifted to more neutral conditions between buyers and sellers.
Larger Properties Most Popular – Luxury buyers have focused on larger homes with 4+ bedrooms and outdoor amenities post-pandemic. New construction builds were also in demand.
So in summary, Burlington’s luxury real estate market was active in 2022 but it cooled from its feverish pace in 2021. Prices flattened while inventory rises to meet buyer interest. The market in 2022 favored neither buyers nor sellers.
2023 Burlington Luxury Real Estate Market:
Although 2023 is only midway through, here are some expected trends in the Burlington, Ontario luxury real estate market for the remainder of 2023:
Continued Slowdown – A further tempering of demand and price growth is predicted after the rapid acceleration of 2020-2021.
Moderately Rising Inventory – Luxury listings should continue to gradually increase in 2023 as owners list properties. However, supply may remain restricted.
Prices Holding Steady – Luxury home prices are forecast to remain relatively flat through 2023, neither spiking up nor declining sharply.
Stable Sales Activity – While unlikely to match 2021’s feverish pace, healthy sales activity is expected to continue in the luxury segment based on economic projections.
Possible Shift to Buyers’ Market – If supply outpaces demand, luxury real estate in Burlington could shift to favor buyers more in 2023. However, a balanced market is also likely.
Ongoing Desirability – Burlington is still seen as a sought-after area in the GTA. Affluent buyers are expected to remain interested in the city’s luxury properties.
In general, the 2023 forecast calls for a stabilizing luxury market in Burlington after the rapid shifts of the past few years.
Is it Hard to Find Burlington Luxury Homes?
The Burlington luxury home market is currently strong mainly due to the ongoing desirability of the area. In fact, some of these homes are considered “Hot Homes,” meaning they are in high demand and likely to sell quickly. So if you have your eye on a luxury property in Burlington, it’s important to act fast.
Burlington homes typically stay on the market for an average of 29 days before being sold. During that time, it’s common for sellers to receive multiple offers. Competition can be fierce and it’s essential to be prepared and make your move quickly.
There are several popular communities in Burlington that you should consider while searching for your dream luxury home. These include:
- Elizabeth Gardens
- Alton Village
Top Burlington Luxury Home Neighbourhoods
Explore the serene beauty of Shoreacres, a neighbourhood defined by its expansive private lots and tranquil, tree-lined streets. This charming area boasts a mix of sprawling ranch-style bungalows from the 1950s and 1960s, as well as custom-built 2-storey homes designed to accommodate larger families.
Discover available homes for sale, property values, top schools, and nearby neighbourhoods like Roseland, Elizabeth Gardens and Tyandaga. Shoreacres offers a peaceful haven with its spacious properties and mature surroundings, making it a perfect destination for those seeking a serene residential retreat.
Top Reasons to Adore Shoreacres
Expansive Privacy: Shoreacres’ allure lies in its generously sized private lots that offer a retreat-like atmosphere, creating a sense of tranquility amid the mature, tree-lined streets.
Timeless Architecture: This neighbourhood boasts an array of architectural treasures, including sprawling ranch-style bungalows harkening back to the 1950s and 1960s, as well as a plethora of custom-built 2-storey homes crafted to cater to larger families.
Nostalgic Charm: Experience the allure of quiet streets adorned with established trees and homes that echo the grace of a bygone era, offering residents a nostalgic sense of place.
Coveted Community: The distinct blend of architectural styles and spacious properties make Shoreacres an inviting haven for families seeking a well-rounded residential haven.
Nearby Serenity: Situated in proximity to picturesque neighborhoods like Roseland, Elizabeth Gardens, and Tyandaga. Shoreacres offers the promise of serene surroundings and a strong sense of community connection.
Roseland beckons with its unparalleled aesthetic beauty, boasting tree-lined streets adorned with captivating old-growth trees that provide a sense of belonging as you enter the neighborhood. Nestled alongside one of the Great Lakes, Roseland’s charm is further amplified by its historic character homes reminiscent of fairytales.
The allure of green boulevards and the prestigious John T. Tuck Elementary School add to the grandeur of this sought-after community. With a short commute time to Toronto, Roseland presents a unique opportunity to immerse yourself in a captivating blend of history and natural splendor.
This neighbourhood south of Mainway features custom-built luxury homes on spacious lots, many backing onto the Roseland Golf & Country Club. Prestigious streets include Lakeshore Road and Shoreacres Creek.
Top Reasons to Adore Roseland:
Timeless Charm: Roseland’s historic character homes exude the enchantment of a storybook, creating an atmosphere that’s truly one-of-a-kind.
Verdant Boulevards: The lush green boulevards that grace the streets enhance the neighborhood’s elegance and provide a touch of grandeur.
Majestic Tree-Lined Streets: Roseland’s streets are adorned with towering, majestic old trees that establish an unparalleled sense of wonder and belonging.
Exemplary Education: The renowned John T. Tuck Elementary School consistently garners high praise, elevating Roseland’s reputation as a sought-after district for families.
Natural Beauty: Nestled near the Great Lakes, Roseland showcases unparalleled natural beauty that invites you to embrace a captivating lifestyle found nowhere else.
3. Elizabeth Gardens
Elizabeth Gardens presents an enticing opportunity for prospective homeowners, offering affordable living within a short stroll to the lake, granting access to scenic evening walks and bike rides along the waterfront. The neighbourhood boasts a host of attractions, including the beautiful Bronte Harbour and bustling shopping area in neighboring Oakville.
From the family-friendly Burloak Waterfront Park with its lake access to the trendy Jacksons Landing restaurant and the tailored Burlington Pediatric Dentistry, Elizabeth Gardens offers a blend of recreation, dining, and convenience. With a range of housing options and its prime location, this charming community provides an ideal backdrop for young professionals, families, and retirees alike.
Top Reasons to Adore Elizabeth Gardens
Lake Proximity: Elizabeth Gardens offers affordable homes conveniently located just a short walk from the lake, allowing residents to enjoy picturesque evening walks and bike rides along the waterfront.
Waterfront Lifestyle: The neighbourhood’s close proximity to the lake provides an excellent opportunity for residents to indulge in the waterfront lifestyle they’ve been dreaming of.
Neighborhood Options: Visitors interested in Elizabeth Gardens might also find similar living experiences in nearby neighborhoods such as Shoreacres, Pinedale, and Longmoor.
Embrace the allure of Tyandaga, a sought-after neighbourhood characterized by its extensive collection of sprawling “estate-like” properties, classic architectural charm, and picturesque tree-lined streets. Ideal for those seeking spacious detached homes, Tyandaga captures the essence of traditional elegance and offers a serene ambiance.
Discover available homes for sale, explore property values, access information about top schools, parks, local businesses, and commute times to Toronto. With its blend of grandeur and tranquility, Tyandaga stands as an appealing destination for buyers drawn to its timeless appeal.
Sitting atop the Niagara Escarpment, homes in the Tyandaga neighbourhood offer scenic vistas and nestled privacy. High-end enclave developments include estate homes starting around $2 million.
Top Reasons to Adore Tyandaga:
Elegant Estates: Tyandaga beckons to buyers in search of spacious detached homes, offering a plethora of sprawling “estate-like” properties that evoke a sense of grandeur and exclusivity.
Time-Honored Architecture: Immerse yourself in the neighbourhood’s captivating charm through its collection of homes exuding traditional architectural elegance, creating a harmonious blend of aesthetics and history.
Serene Streetscapes: Tyandaga’s allure is further enhanced by its tree-lined streets that gently roll through the landscape, imbuing the neighbourhood with a tranquil ambiance perfect for those seeking solace.
Educational Excellence: The top schools in the vicinity elevate Tyandaga’s appeal, making it an attractive destination for families in pursuit of quality education and a nurturing environment.
5. Alton Village
Alton Village is an appealing neighbourhood for young families and those seeking freehold, 2-storey homes with open concept floor plans. The community fosters togetherness with movie nights in driveways and offers recreational options at Norton Community Park, featuring a skate park, splash pad, basketball court, and leash-free area. The average commute time to Toronto is 40-44 minutes.
Top Reasons to Adore Alton Village:
Community Bonding: Alton Village stands out for its close-knit community, organizing movie nights where residents can enjoy films and each other’s company.
Norton Community Park: The neighbourhood offers Norton Community Park, a versatile space that caters to various family members with amenities such as a skate park, splash pad, basketball court, and leash-free area for pets.
Ideal for Families: Alton Village is particularly attractive to young families and individuals in search of freehold, 2-storey homes designed with open concept floor plans.
Easy Commute: The average commute time to Toronto from Alton Village is approximately 40-44 minutes, making it feasible for residents to work in the city while enjoying suburban living.
Other Luxury Areas
Other upscale areas include Burlington Heights near the golf club, Napier Estates on rural acreages, and sections of Aldershot for newer luxury builds. But Shoreacres, Roseland, Elizabeth Gardens, Tyandaga and Alton Village consistently rank as Burlington’s most prestigious and expensive neighbourhoods for luxury real estate. Homes ranging from $2-5 million and up can be found within these communities.
These areas offer unique features, amenities, and vibrant communities that attract buyers from all walks of life. New listings in Burlington often become available every 15 minutes, so keep looking for what you want or simply call or text us for the most current listings.
People Also Ask
Where is the best area to live in Burlington?
Choosing the best area to live in Burlington depends on your preferences and lifestyle. Some popular communities include Shoreacres, Roseland, Elizabeth Gardens, Tyandaga, and Alton Village. Each area offers unique features such as proximity to amenities, schools, and waterfront access. It’s best to explore different neighbourhoods and consider factors like commute, safety, and community vibe to find the perfect fit for you.
Are home prices dropping in Burlington?
Home prices in Burlington, Ontario are not seeing major drops yet, but growth is slowing down:
Prices Still Elevated – Home prices in Burlington remain high compared to historical averages, with the overall average sitting around $1M.
Slowing Price Growth – While still up year-over-year, the rate of price increases has slowed significantly compared to 2020, 2021 and 2022 gains.
Luxury Market Also Moderating – Luxury home sales over $2M dropped 30% so the luxury price growth is tapering as well.
Forecasts Call for Stabilization – Most analysts predict prices stabilizing through 2023 rather than dropping sharply.
Higher Mortgage Rates – Reduced affordability from rising interest rates may contribute to slower sales and price growth.
So in summary, while Burlington home prices remain historically high, the rapid escalation seen in 2020-2022 has cooled significantly. Flat or even slightly declining prices are possible in 2023, but not a major collapse. Most real estate experts believe the market is rebalancing.
Are Burlington homes overpriced?
The perception of whether homes in Burlington are overpriced depends on individual perspectives. While the luxury market in Burlington has experienced notable growth, the overall market offers a range of home prices to accommodate different budgets. It’s crucial to work with a trusted real estate professional who can guide you through the market and help you make informed decisions based on your specific needs and financial situation.
Is Burlington a good place to buy property?
Burlington is often considered a great place to buy property. The entire area boasts a strong economy, a vibrant cultural scene, and an abundance of recreational activities. With its diverse housing options, Burlington offers opportunities for both homeowners and real estate investors. However, it’s essential to conduct thorough research. Consider market conditions and consult with a local realtor. This will help you make a sound investment decision aligned with your goals.
Who Can Assist You in Your Luxury Home Search?
Your Home Sold Guaranteed Realty Elite - The Augustine Team is your go-to luxury real estate expert in Burlington. Steve Augustine and his team know the ins and outs of buying Burlington luxury homes.
Our team can guide you towards the perfect communities that align with your family’s needs and desires. We pride ourselves on being responsive and available throughout your home search and buying process. We’re here to make your Burlington luxury home search a breeze!
What Defines the Burlington Luxury Real Estate Market?
In Burlington, luxury homes are generally valued at $1.5 million or more. However, it’s important to note that you can find many homes with luxury features below this price point. Just know they might not include all the amenities commonly associated with luxury real estate.
Highly sought-after areas are prime spots for buyers to scoop up the most beautiful homes. If you know exactly where you want to live, our team can help you find a home to suit your needs.
What Can You Expect from Burlington Luxury Homes?
Burlington luxury homes often provide upscale appliances from name brands like Viking, Wolf, Thermador, and Subzero. While you might occasionally find these appliances in budget-friendly homes, they’re more common in the luxury market.
Additionally, outdoor entertainment areas take center stage in these homes. Many have custom pools, built-in outdoor food prep islands, firepits, smokers, and gas grills. The landscaping is meticulously planned by landscape architects. Luxury property owners take the time to create a stunning ambiance day and night.
Indoors, Burlington luxury homes provide smart home technology and offer additional living spaces such as private and secure offices, indoor gyms, and movie rooms. Game rooms are also common, equipped with pool tables, pinball machines, ping pong tables, and foosball.
How Can You Easily Search for a Burlington Luxury Home?
With our help, it’s incredibly easy for you to find your dream luxury home in Burlington. Our website helps with advanced and up-to-date technology. We make sure home buyers and sellers can find exactly what they’re looking for with ease.
When you want to sell and move up to a luxury home, we can list your home for sale. In addition, we constantly update the site with the latest listing information. You can create customized searches and get notified about homes that match your criteria.
What Should You Know About Luxury Home Inspections in Burlington?
Not all home inspectors are equally knowledgeable about luxury appliances, lighting packages, and plumbing systems. It’s crucial to hire an inspector with the right experience to thoroughly examine a house before you buy it.
Your Home Sold Guaranteed Realty Elite - The Augustine Team has a select few trusted home inspectors. We’ll help you find professionals who specialize in luxury properties. Keep in mind that luxury homes are often large. This means inspectors typically charge more for inspections due to the additional time required.
A comprehensive inspection gives you a detailed “to-do” list of items that may need updating or correction. Furthermore, there might be hidden issues that even the sellers weren’t aware of. These may require repair negotiations. This is where a skilled luxury realtor is extremely helpful, expertly managing the delicate process on your behalf.
How Can Your Home Sold Guaranteed Realty Elite - The Augustine Team Assist You in Your Luxury Home Journey?
Your Home Sold Guaranteed Realty Elite - The Augustine Team gives you top-tier real estate service. All our Burlington customers across all price ranges love working with us. We’ve earned a reputation for reliability, loyalty, and discretion. This is especially important when you’re looking for luxury homes for sale in Burlington.
We understand that privacy is key, and we’ll ensure your real estate transactions remain confidential. Whether you’re looking to buy or sell, we have the expertise to handle simultaneous transactions seamlessly.
Your Home Sold Guaranteed Realty Elite - The Augustine Team gives you top-tier service. All our customers across all price ranges love working with us. We’ve earned a reputation for reliability, loyalty, and discretion. This is especially important when you’re looking for luxury real estate in the Burlington, Ancaster, Oakville, Grimsby areas. Be sure to read our Luxury Living Guides:
Our experienced team will help you prepare for success. If you want help finding the right luxury property for your needs, call us at (289) 235-8000. You can also fill out the form on this page and we’ll reach out.