burnaby south CONDO - AUGUST 2 0 2 4
SALES TO LISTINGS RATIO 20% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 2% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 71% VS 2023
▼ 5% VS 2023
▼ 6% VS 2023
▼ 10% VS 2023
There were 413 condo listings in Burnaby South in August, 7% below July and 71% higher than August 2023. August condo sales decreased by 21% month-over-month, to 81, and were 10% below August 2023. The sales-to-listing ratio for condos in Burnaby South, at 20%, reflected a balanced market. The condo median price in August was $745,000, a 3% increase from July and 6% below August 2023. The average sold price was $793,341, 4% above last month; the average PSF sale price was $993, up 1.9% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No. 102 444
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$993 $793,341 $745,000 20% 81 413
$971 $833,247 $793,500 37% 90 242
-47% -10% 71%
1.9% 4% 3% -15% -21% -7%
$974 $762,455 $725,500 23%
2% -5% -6%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● AUG 2023 ● AUG 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
408
455 444
413
309
305
334
306
281
264
249
245
242
102
101
75
90
81
92
86
83
79
78
63
58
56
$794K
$796K
$779K
$767K
$758K
$758K
$745K
$750K
$745K
$740K
$728K
$730K
$726K
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
140
120
4+ bdrms
2
100
5
80
3 bdrms
56
60
25% 26%
40
47
19%
2 bdrms
13%
10%
230
20
0
29
<$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
60 15 25%
133 35 26%
112 15 13%
72 14 19%
20 2 10%
15 0 n/a
1 0 n/a
125
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. 19 ●
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