Burnaby Housing Market Trends
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Burnaby Market Update
East Burnaby, Government Road, Deer Lake, Capitol Hill BN, South Slope and all the sub-areas of Burnaby Real Estate Market Update Report.
What are Burnaby's Best and Worst Investments?
Aug 1, 2017
Current: Burnaby's Residential Detached housing market is in a sellers Market with 8 %SOLD rate. (This means 8 homes out of 100 sold last month with an average $65,000 Discount from the original price) Lesson
Most Active Range: Homes between $1.2 mill. - $1.35 mill. have 21.7 %SOLD rate
Least Active Range: Homes between $2 mills. - $2.5 mill. have 1.7 %SOLD rate.
History: The Burnaby Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $135,762.
The Burnaby Home PriceIndexHPIp (Lower 50%) Year-To-Date shows that prices increased $65,547.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Burnaby has a normal Listing supply; 459 homes are for sale and with the 8 %SOLD monthly rate gives us a ~13 months of inventory. 6% of the active listings have reduced their price by $85,833 on average or $100,000 median. We project Burnaby to be a continued sellers market.
July's Real Estate Statistics show our Markets have NORMLIZED with 52% of Vancouver's Detached Markets increasing values this month. Gone of the Exhausting Highly Emotional Charged Markets that we have seen in the last few years. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Increase of just $7,343, which is a small decrease over the $8,046 increase that we saw in June. Average Increase in Fraser Valley Markets has also normalized with a $6,045 monthly increase. Single Family Homes in the Fraser Valley experienced an Average Monthly Price Increase of $6,045, which is a major decrease over the $19,160 increase that we saw in June. Last year our Single Family Markets peaked in June/July and this year we are forecasting the end of the Sellers Market across most Detached Markets.
Currently 88% of the Attached Markets are increasing at a fast pace in Greater Vancouver (51 of 58 Markets). We continue to analyze and provide 97 individual City's Home Price Indexes to supply you the MOST ACCURATE Market Trends every 2 weeks. Please contact us for your own Market Value Update with an in depth Analysis and Forecast in your Local Market Area and more specifically - Your Neighbourhood.
We thank Lori Blake for his support of these Burnaby Real Estate Updates which include sub-areas such as East Burnaby, Capitol Hill BN, South Slope, Government Road, Deer Lake etc. Contact Lori as the Local Expert.... more details.
Download the full BurnabyMarketupdatereport.PDF
This Burnaby Real Estate Market update includes the sub areas Government Road, Deer Lake, East Burnaby, Capitol Hill BN, South Slope etc.
Click Image to compare previous STR/ MTI graphs
Trying to do the math? Lessons: STR MTI
Burnaby , East Burnaby and NewWest
This is the most accurate %SOLD-Monthly Sell Through Rates (STR Graph) using a 4 week time period to analysis the housing prices and Market trends. This Market Report is derived from the exact Sat to Friday 4 week time periods and this is dramatically more accurate than the month to month comparisons that vary based on actual working days eg month, weekends. These trends enable Real Estate Market predictions and forecast outlooks.
Diclaimer: Market predictions are exactly that: predictions. Market conditions are changing dail and you should consult with your local expert to confirm facts before making any decisions.