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?
Mar 1, 2021
Current: Burnaby's Residential Detached housing market is in a Seller Market with 28 %SOLD rate.
(This means 28 homes out of 100 sold last month with an average $12,250 Discount from the original price) Lesson
Most Active Range: Homes below $1.3 mill. have 72.7 %SOLD rate
Least Active Range: Homes above $2.6 mill. have 9.1 %SOLD rate.
History: The Burnaby Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $276,256.
The Burnaby Home PriceIndexHPIp (Lower 50%) Year-To-Date shows that prices increased $185,561.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Burnaby has a normal Listing supply; 185 homes are for sale and with the 28 %SOLD monthly rate gives us a ~4 months of inventory. 8% of the active listings have reduced their price by $177,929 on average or $181,000 median. We project Burnaby to be a continued Seller market.
March's Real Estate Statistics show that we are still in the highly emotional "Gold Fever"market. We have seen 100% of the Single-Family Homes in Metro Vancouver go up this month with most buyers competing in bidding wars. The Average Monthly Price increase is a whopping $84,263! This is the Highest Price increase on record since 2016. ON the other hand, 100% of Fraser Valley Detached Markets went up this month with a whopping $60,306 monthly price changes on average. This seller's market is partly due to the fact that we have Low listing levels. We are forecasting that in the Metro Vancouver Markets will continue to be a Strong Seller's Market for the coming month.
Currently, Condos are in a more subdued Seller's Market with 100% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. The average monthly price increase was a $17,534. At the same time, all Townhouse Markets increased an average of $37,065. We analyze and provides 97 individual City's Home Price Indexes to supply you with the MOST ACCURATE Market Trends every Saturday. 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 Neighborhood.
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.