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Burnaby Housing Market Trends
| Burnaby Real Estate Market Reports and Forecasts Previous Report
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.
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What are Burnaby's Best and Worst Investments?
Nov 1, 2020
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Current: Burnaby's Residential Detached housing market is in a Seller Market with 20 %SOLD rate.
(This means 20 homes out of 100 sold last month with an average $50,350 Discount from the original price) Lesson
Most Active Range: Homes between $1.3 mill. - $1.45 mill. have 35.3 %SOLD rate
Least Active Range: Homes above $2.5 mill. have 10.0 %SOLD rate.
History: The Burnaby Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $81,414.
The Burnaby Home PriceIndexHPIp (Lower 50%) Year-To-Date shows that prices increased $32,999.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Burnaby has a normal Listing supply; 299 homes are for sale and with the 20 %SOLD monthly rate gives us a ~5 months of inventory. 6% of the active listings have reduced their price by $110,426 on average or $99,988 median. We project Burnaby to be a continued Seller market.
October's Real Estate Statistics shows that in this highly emotional market that all 100% of the Single-Family Homes in Metro Vancouver are in a Seller's Market. This is the 1st time all markets are rising since May 2017. The Average Monthly Prices increased $19,518 which is the highest increase we have seen this year or for any October on record. Same in Fraser Valley, 94% of market increased with $23,580 monthly price increase. Thus, we are forecasting that Lower Mainland Markets (both fraser Valley and Metro Vancouver Markets) will continue to be Seller’s Market for the coming month.
Currently, Condos are also in a much cooler Seller's Market with 60% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. The average monthly price increase was $1,238. At the same time, 27 out of 28 Townhouse Markets increased an average of $2,980. 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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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
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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.
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