burnaby south DETACHED - JANUARY 2 0 2 4
SALES TO LISTINGS RATIO 27% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 27% VS 2023
▲ 25% VS 2023
▲ 12% VS 2023
▲ 83% VS 2023
There were 82 detached listings in Burnaby South in January, 7% below December and 12% higher than January 2023. January detached home sales increased by 144% month-over-month, to 22, and were 83% above January 2023. The sales-to-listing ratio for detached in Burnaby South, at 27%, reflected a sellers' market. The detached median price in January was $2,125,000, a 15% increase from December and 25% above January 2023. The average sold price was $2,321,904, 14% above last month and up 27% to January 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change 27% 25% 63% 83% 12%
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
22 82
12 73
$2,040,556 $1,850,000 10% 9 88
162% 144% -7%
$2,321,904 $2,125,000 27%
$1,826,631 $1,705,000 16%
14% 15%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
120
104
118
97
108
1.93
101
80
79
82
88
1.76
73
1.60
70
66
1.50
1.51
39
1.37
35
25
24
16
22
24
9
22
12
20
16
12
$2.13M
$2.04M $2.09M $2.10M $2.15M
$2.00M $2.00M
$1.85M $1.85M
$1.71M $1.74M
$1.72M $1.85M
23-Jan
23-Dec
24-Jan
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
25
20
15
40%
10
32%
25%
5
14%
0
<$600K
$600-799K
$800-999K
$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M
$3M+
S-L RATIO SALES INVENTORY
1 0 n/a
25 8 32%
15 6 40%
20 5 25%
21 3 14%
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 February 7, 2024. All data from Real Estate Board of Greater Vancouver and Fraser Valley & 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.
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