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?
Oct 1, 2017
Current: Burnaby's Residential Detached housing market is in a sellers Market with 9 %SOLD rate. (This means 9 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 22.2 %SOLD rate
Least Active Range: Homes between $2 mill - $2.5 mill. have 5.50 %SOLD rate.
History: The Burnaby Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $17,835.
The Burnaby Home PriceIndexHPIp (Lower 50%) Year-To-Date shows that prices increased $104,999.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Burnaby has a normal Listing supply; 491 homes are for sale and with the 9 %SOLD monthly rate gives us a ~11 months of inventory. 10% of the active listings have reduced their price by $91,706 on average or $92,000 median. We project Burnaby to be a continued sellers market.
September's Real Estate Statistics show our Markets have NORMALIZED with 49% 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 $4,006 decrease that we saw in the month prior. Overall, Single Family Homes in the Fraser Valley experienced an Average Monthly Price Increase of $2,054, which is a reduction of the $3,386 increase that we saw in the month prior. This Average Fraser Valley Markets are still stronger with a $2,054 monthly increase.
Currently, 61% of the Attached Markets are still increasing in Greater Vancouver (Lower Mainland) (52 of 58 Markets). We are forecasting the beginning of Buyers Market across all Housing 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.