|
Current: Burnaby's Residential Detached housing market is in a Buyer's Market with 7 %SOLD rate.
(This means 7 homes out of 100 sold last month with an average $74,450 decrease from the original price) Lesson
Most Active Range: Homes below $1.7 mill. have 15.4 %SOLD rate
Least Active Range: Homes above $3.5 mill. have 2.6 %SOLD rate.
History: The Burnaby Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $2,588.
The Burnaby Home PriceIndexHPIp (Lower 50%) Year-To-Date shows that prices increased $15,918.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Burnaby has a normal Listing supply; 265 homes are for sale and with the 9 %SOLD monthly rate gives us a ~14 months of inventory. 5% of the active listings have reduced their price by $107,615 on average or $100,000 median. We project Burnaby now in Buyer's market.
Greater Vancouver March 2025:
March Brings a Spark of Life to a Very Slow Market!
In March, 52% of single-family homes climbed in value. The average price rose by $1,506, a solid shift after that $4,022 drop we saw in February.
But watch out—the election fog is here. We forecast that many buyers and sellers will hit pause until it's over. That means we will slide into a buyer’s market across Metro Vancouver.
Condos? Our most affordable market saw a whopping 72% increase, with values climbing $3,320 on average. Townhouses didn’t get the same boost—the average price still dipped by $2,218. We forecast that condos and townhomes will level off or keep tipping in the buyer’s favour as we move through the election and the Trump Tariffs.
Want to know which markets are heating up—or cooling down? Check VancouverMarketReports.com every Saturday at noon to see the weekly changes. 📞 Need expert advice or a free Home Market Analysis? Call Bill Coughlin and the Coughlin Team at 778-374-3744. Let’s help you make the right move.
Fraser Valley March 2025:
March Brings a Spark of Life to a Very Slow Fraser Valley Market!
In March, 61% of detached homes went up in value. On average, single-family homes increased by $1,066, which is a nice change after the $5,136 drop in February.
But watch out—the election fog is here. We forecast that many buyers and sellers will hit pause until it's over. That means we will slide into a buyer’s market across Metro Vancouver.
Condos? Our most affordable market saw a 67% of them went up in price, with an average increase of $1,483. Townhouses didn’t get the same boost—the average price still dropped by $1,486. We forecast that condos and townhomes will level off or keep tipping in the buyer’s favour as we move through the election and the Trump Tariffs.
Want to know which markets are heating up—or cooling down? Check VancouverMarketReports.com every Saturday at noon to see the weekly changes. 📞 Need expert advice or a free Home Market Analysis? Call Bill Coughlin and the Coughlin Team at 778-374-3744. Let’s help you make the right move.
|
