burnaby north CONDO - AUGUST 2 0 2 4
SALES TO LISTINGS RATIO 18% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 1.0% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 11% VS 2023
▲ 6% VS 2023
▲ 73% VS 2023
▲ 7% VS 2023
There were 619 condo listings in Burnaby North in August, 0.8% below July and 73% higher than August 2023. August condo sales increased by 14% month-over-month, to 111, and were 7% above August 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 104 357
% Change
No.
% Change
The sales-to-listing ratio for condos in Burnaby North, at 18%, reflected a balanced market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
111 619
1% 11% 6% -38% 7% 73%
$885 $708,732 $681,300 16% 97 624
4% 9% 1.6% 15% 14% -0.8%
The condo median price in August was $692,000, a 1.6% increase from July and 6% above August 2023. The average sold price was $769,753, 9% above last month; the average PSF sale price was $920, up 4% to last month.
$920 $769,753 $692,000 18%
$911 $692,067 $652,000 29%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● AUG 2023 ● AUG 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
619
624
521
553
536
429
389
400
357
392
315
289
267
118
115
92
85
83
111
104
106
97
84
64
63
68
$722K
$710K
$713K
$709K
$699K
$699K
$692K
$689K
$681K
$668K
$665K
$667K
$652K
BURNABY NORTH
REBGV
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● S-L RATIO
250
4+ bdrms
1
200
150
18
3 bdrms
50%
64
40%
100
24%
52
16%
2 bdrms
15%
50
11%
372
9%
0
41
<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+
<2 bdrms
S-L RATIO SALES INVENTORY
84 34 40%
243 39 16%
175 20 11%
59 9 15%
25 6 24%
23 2 9%
2 1 50%
8 0 n/a
182
Copyright © 2024 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of September 9, 2024. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing System, and rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 16 ●
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