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.

Current:  Burnaby's Residential Detached housing market is in a Seller Market with 18 %SOLD rate.
                (This means 18 homes out of 100 sold last month  with an average $10,000  Discount  from  the original price) Lesson

Most Active Range: Homes between $1.3 mill. -$1.45 mill. have 50.0 %SOLD rate
Least Active Range: Homes above $2.5 mill. have 5.3 %SOLD rate.

History: The Burnaby Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $385,857.
               The Burnaby Home PriceIndexHPIp (Lower 50%) Year-To-Date shows that prices increased $243,442.
                   *The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.

Forecast: Burnaby has a normal Listing supply; 239 homes are for sale and with the 18 %SOLD monthly rate gives us a ~6 months of inventory. 4% of the active listings have reduced their price by $82,300 on average or $100,000 median. We project Burnaby to be a continued Seller market.

Greater Vancouver September 2021:

Very Low Listing Inventories has caused the Vancouver Market Monthly Average Price to increase from $9,115 last month to $16,725. Yes, 71% of the Single-Family Home Markets went up! Why such a strong Sellers Market? Although the number of sales is normal, we now have the lowest listing inventory since 2011. This lack of listings is partially due to the covid infections/lockdowns resulting in many sellers putting plans on hold. We are forecasting that the majority of the Metro Vancouver Markets will continue to be a Seller's Market in the coming months.

Currently, Condos are now in a Seller's Market with 83% of the Greater Vancouver (Lower Mainland) Condo Prices increasing $8,355 on average. On the other hand, 89% Townhouse Markets (19 out of 28) prices increased $10,653 on average. We analyze and provide 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.

Fraser Valley September 2021:

Very Low Listing Inventories has caused the Fraser Valley Home Market Monthly Average Prices to increase $37,325 on average. This is the largest September price increase we've seen in 11years. Why such a strong Sellers Market? We have one of the lowest listing inventories since 2011. This is partially due to the covid infections/lockdowns resulting in many sellers putting plans on hold.

Currently, Condos are now in a Seller's Market with 83% of the Greater Vancouver (Lower Mainland) Condo Prices increasing $8,355 on average. On the other hand, 89% Townhouse Markets (19 out of 28) prices increased $10,653 on average. We analyze and provide 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.

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