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North Burnaby RE/MAX Reports Market Update

Hi , your free RE/MAX Market Share Reports Plus many Advanced Market Reports.

Question? Do you know when 's market will switch to a Buyers Market, in advance?

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Now even Condominiums eked small gains in most communities this year!

Would like to to see the Condos Low & the Townhouse Changes too? Note: All of these Home Price Changes are complied from the most accurate VMR Home Price Index (paired) HPIp

, if you do not want any future RE/MAX Market Reports Please reply Remove Me and you will be sorely missed! :) Bill Coughlin

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Burnaby

Sep 1, 2023

Current: Burnaby's Residential Detached housing market is in a Seller's Market with 14 %SOLD rate.
(This means 14 homes out of 100 sold last month with an average $43,400 decrease from the original price) Lesson

Most Active Range: Homes between $1.7 mill.-$1.9 mill. have 22.5%SOLD rate
Least Active Range: Homes above $3.5 mill. have 2.9 %SOLD rate.

History: The Burnaby Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $46,001.
The Burnaby Home PriceIndexHPIp (Lower 50%) Year-To-Date shows that prices decreased $38,721.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.

Forecast: Burnaby has a normal Listing supply; 189 homes are for sale and with the 14 %SOLD monthly rate gives us a ~5 months of inventory. 12% of the active listings have reduced their price by $158,270 on average or $110,000 median. We project Burnaby now in Seller's market.

Greater Vancouver August 2023:

In Greater Vancouver, the average prices of single-family detached homes took a dramatic turn in August, dropping by $8,319, a sharp contrast to the previous month's $2,661 increase. This marks the first decline since January. Our analysis suggests a shift toward a more stable real estate market. In this changing landscape with low inventory and the highest interest rates in 21 years, staying informed is crucial for buyers, sellers, and investors. Explore detailed reports for specific cities in Greater Vancouver through the city menu for a deeper understanding.

Currently, both the condominium and townhouse markets are in a state of stability. Condos have seen their average prices decrease by $3,572, while townhouses have faced a drop of $5,795.

Every Saturday at noon, we analyze 97 different city House Price Indices and present the most accurate market trends to you at VancouverMarketReports.com. Please get in touch with us if you'd like a market value update that includes a thorough analysis and forecast for your neighborhood and local market area. - Your Neighborhood.

Fraser Valley August 2023:

In the Fraser Valley, the average prices of single-family detached homes took a significant turn in August, dropping by $9,319, a sharp contrast to the previous month's modest $318 increase. This marks the first decline since February. Our analysis suggests a shift toward a more stable real estate market. In this changing landscape, with low inventory and rising interest rates, staying informed is crucial for buyers, sellers, and industry participants. Explore detailed reports for specific cities in Greater Vancouver through the city menu for a deeper understanding.

Currently, both the condominium and townhouse markets are in a state of stability. Condos have seen their average prices decrease by only $68, while townhouses have faced a drop of $2,071.

Every Saturday at noon, we analyze 97 different cities' House Price Indices and present the MOST ACCURATE Market Trends to you at VancouverMarketReports.com. Please get in touch with us if you'd like a market value update that includes a thorough analysis and forecast for your neighborhood and local market area. - Your Neighborhood.