Vancouver Real Estate Market Update Reports / North Burnaby Real Estate Market Update Forecast Report

   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.

      What are Burnaby's Best and Worst Investments?

May 1, 2024

gas gauge

Current:  Burnaby's Residential Detached housing market is in a Seller's Market with 18 %SOLD rate.
                (This means 18 homes out of 100 sold last month  with an average $40,000 decrease from the original price) Lesson

Most Active Range: Homes below $1.7 mill.- $1.9 mill. have 58.3 %SOLD rate
Least Active Range: Homes above $3.5 mill.-$3.5 mill.have 4.3 %SOLD rate.

History: The Burnaby Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $45,539.
               The Burnaby Home PriceIndexHPIp (Lower 50%) Year-To-Date shows that prices increased $153,398.
                   *The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.

Forecast: Burnaby has a normal Listing supply; 215 homes are for sale and with the 18 %SOLD monthly rate gives us a ~6 months of inventory. 3% of the active listings have reduced their price by $88,167 on average or $90,000  median. We project Burnaby now in Stable market.

Greater Vancouver April 2024:

Single-family detached home costs have increased on average by $11,953, slightly less than the $18,256 average rise observed in March. Although fixed mortgage rates have dropped significantly, it seems that buyer confidence is dependent on the Bank's policy rate falling as well, which could entice some buyers to enter the market. We forecast that the seller-friendly real estate market will switch to a buyers within the month.

In Vancouver, the average cost of 78% of condominiums has declined by $536. However, townhouses are selling for an average of $2,505 presently as opposed to $10,973. We forecast the sellers' market to end within the next month.

For the most accurate and up-to-date market trends, join us every Saturday at noon on VancouverMarketReports.com, where we analyze the winners and losers in each Lower Mainland city. For a comprehensive market value update, including forecasts and a thorough analysis of your neighborhood and local market area, please don't hesitate to contact Bill Coughlin and the Coughlin Team at 778-374-3744.

 

Fraser Valley April 2024:

Single-family detached home costs have increased on average by $4,367, slightly less than the $13,015 average rise observed in March. Although fixed mortgage rates have dropped significantly, it seems that buyer confidence is dependent on the Bank's policy rate falling as well, which could entice some buyers to enter the market. We forecast that the seller-friendly real estate market will switch to a buyers within the month.

In Fraser Valley, the average cost of 75% of condominiums has gone up by $3,141. However, townhouses are selling for an average of $7,202 presently as opposed to $9,716. We forecast the sellers' market to end within the next month.

For the most accurate and up-to-date market trends, join us every Saturday at noon on VancouverMarketReports.com, where we analyze the winners and losers in each Lower Mainland city. For a comprehensive market value update, including forecasts and a thorough analysis of your neighborhood and local market area, please don't hesitate to contact Bill Coughlin and the Coughlin Team at 778-374-3744.

 

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.

Burnaby Real Estate Market updates for Deer lake, Goverment road and all other sub areas

Burnaby Real Estate Market updates for Deer lake, Goverment road and all other sub areas

Burnaby Real Estate Market updates for Deer lake, Goverment road and all other sub areas

Burnaby Real Estate Market updates for Deer lake, Goverment road and all other sub areas

Download the full BurnabyMarketupdatereport.PDF

Government Road, Deer Lake, East Burnaby, Capitol Hill BN, South Slope etc. sub areas updates for Burnaby

Government Road, Deer Lake, East Burnaby, Capitol Hill BN, South Slope etc. sub areas updates for Burnaby

Government Road, Deer Lake, East Burnaby, Capitol Hill BN, South Slope etc. sub areas updates for Burnaby

Government Road, Deer Lake, East Burnaby, Capitol Hill BN, South Slope etc. sub areas updates for Burnaby

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 

Ladner, South Delta, Real Estate Market Update Report


 

   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.

Burnaby , NewWest Real Estate Adsorption Reports Nov 23 2011

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.

Study Criteria: Sq.ft. 2000 to 3500, Frontage: Maximum 69, Bedroom: 3 to 6, Age: 3 to 65 years. As per Study area Map

Previous underpriced homes data

Why we study the market changes

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