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 Sellers Market with 16 %SOLD rate.
                (This means 16 homes out of 100 sold last month  with an average $44,000 decrease from  the original price) Lesson

Most Active Range: Homes below $1.7 mill. have 33.3 %SOLD rate
Least Active Range: Homes above $3.5 mill. have 5.0 %SOLD rate.

History: The Burnaby Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $223,082.
               The Burnaby Home PriceIndexHPIp (Lower 50%) Year-To-Date shows that prices increased $222,137.
                   *The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.

Forecast: Burnaby has a normal Listing supply; 207 homes are for sale and with the 16 %SOLD monthly rate gives us a ~6 months of inventory. 12% of the active listings have reduced their price by $120,285 on average or $100,000 median. We project Burnaby now in Stable market.

Greater Vancouver September 2022:

In September, 86% of the Vancouver Real Estate Detached Markets' monthly prices decreased by ($27,946) on average; that's a 13% decline from last month's drop of $21,611. On the other hand, the Fraser Valley home prices dropped even more to ($45,444) on average. We are seeing continued downward pressures due to the increasing interest rates, high inflation, and stock market jitters. We are forecasting that the majority of the Metro Vancouver Markets will continue to be in a Buyer's Market for the next 6 months.

Currently, Both the Condo Markets and Townhouse Markets are also in a Buyer's Market, with an Average Price decrease of ($6,326) and ($13,326) respectively. 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 2022:

The Fraser Valley Real Estate Market shows that 94% of the Detached homes' monthly prices decreased in September by ($45,444) on average. This is the 2nd lowest price change we've seen on Record for the month of September. We are seeing continued downward pressures due to the increasing interest rates, high inflation, and stock market jitters. We are forecasting that the majority of the Fraser Valley Markets will continue to be in a Buyer's Market for the next 6 months.

Currently, Both the Condo Markets and Townhouse Markets are also in a Buyer's Market, with an Average Price Decrease of ($6,326) and ($13,326) respectively. 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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