the vancouver rennie review | September 2024

burnaby south TOWNHOME - AUGUST 2 0 2 4

SALES TO LISTINGS RATIO 13% BALANCED MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

AVERAGE PSF PRICE ▲ 3% VS 2023

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 20% VS 2023

▼ 12% VS 2023

▼ 17% VS 2023

▼ 50% VS 2023

There were 60 townhome listings in Burnaby South in August, 8% below July and 20% higher than August 2023. August townhome sales decreased by 47% month-over-month, to 8, and were 50% below August 2023. The sales-to-listing ratio for townhomes in Burnaby South, at 13%, reflected a balanced market. The townhome median price in August was $983,000, a 4% increase from July and 17% below August 2023. The average sold price was $981,878, 0.4% above last month; the average PSF sale price was $832, up 1.4% to last month.

THIS MONTH No.

PREVIOUS MONTH

PREVIOUS YEAR

No.

% Change

No.

% Change

TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

$832 $981,878 $983,000 13% 8 60

16 50

3% -12% -17% -58% -50% 20%

15 65

1.4% 0.4% 4% -42% -47% -8%

$810 $1,112,938 $1,190,000 32%

$821 $977,503 $942,000 23%

▶ AVG PRICE PER SQUARE FOOT

▶ RECENT TRENDS

● AUG 2023 ● AUG 2024

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

65

60

63

47

50

43

49

46

38

39

36

33

30

19

19

15

15

15

16

13

13

8

11

10

10

9

$1.20M

$1.19M

$1.19M

$1.08M $1.10M

$1.06M

$1.05M $1.10M

$983K

$960K

$960K

$942K

$929K

BURNABY SOUTH

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

100%

20

1

4+ bdrms

3

15

3

3 bdrms

32

10

33%

3

2 bdrms

5

15% 14%

23

5%

0

1

<2 bdrms

<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+

2

S-L RATIO SALES INVENTORY

1 1 100%

6 2 33%

21 1 5%

13 2 15%

14 2 14%

4 0 n/a

1 0 n/a

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. 18 ●

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