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?
Nov 1, 2017
Current: Burnaby's Residential Detached housing market is in a seller's Market with 14 %SOLD rate. (This means 14 homes out of 100 sold last month with an average $68,500 Discount from the original price) Lesson
Most Active Range: Homes below $1.3 mill. have 33.3 %SOLD rate
Least Active Range: Homes above $2.5 mill. have 2.1 %SOLD rate.
History: The Burnaby Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $12,597.
The Burnaby Home PriceIndexHPIp (Lower 50%) Year-To-Date shows that prices increased $98,466.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Burnaby has a normal Listing supply; 443 homes are for sale and with the 14 %SOLD monthly rate gives us a ~7 months of inventory. 10% of the active listings have reduced their price by $88,415 on average or $84,500 median. We project Burnaby to be a continued sellers market.
October's Real Estate Statistics show our Markets have NORMALIZED with just 33% of Vancouver's Detached Markets increasing values this month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $10,887, which is less than the $12,693 decrease that we saw in the month prior. The Average Fraser Valley Markets are still stronger with a $1,381 monthly increase. Detached Markets values in October experienced an Average Monthly Price decrease of $1,381, which is a reduction of the $2,054 increase that we saw in the month prior. The FV is still a much stronger market than the Vancouver Detached Markets which just had a $10,887 monthly decrease. We are forecasting the beginning of Buyers Market across many Detached Markets, with Chilliwack being one of the last holdouts. We are forecasting the beginning of Buyers Market across most Detached Markets
Currently, the Attached Markets carry the day with 75% still increasing in Greater Vancouver (Lower Mainland) (43 of 58 Markets). We are forecasting a continued Seller's Market in the Attached 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 Bill Coughlin 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 Bill 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.