burnaby south CONDO - JANUARY 2 0 2 4
SALES TO LISTINGS RATIO 25% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 13% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 3% VS 2023
▲ 3% VS 2023
▲ 23% VS 2023
▲ 91% VS 2023
There were 249 condo listings in Burnaby South in January, 1.6% above December and 23% higher than January 2023. January condo sales increased by 9% month-over-month, to 63, and were 91% above January 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The sales-to-listing ratio for condos in Burnaby South, at 25%, reflected a sellers' market.
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$1,011 $782,354 $730,000 25% 63 249
$898 $756,586 $710,000 16% 33 203
13% 3% 3% 56% 91% 23%
$922 $796,640 $766,500 24% 58 245
10% -1.8% -5% 7% 9% 1.6%
The condo median price in January was $730,000, a 5% decrease from December and 3% above January 2023. The average sold price was $782,354, 1.8% below last month; the average PSF sale price was $1,011, up 10% to last month.
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● JAN 2023 ● JAN 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
309
306
305
257
254
249
249
245
245
242
242
226
203
161
149
90
84
116
75
96
93
63
79
58
56
33
$840K
$796K
$784K
$794K
$780K
$767K
$750K
$743K
$745K
$728K
$728K
$730K
$710K
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
80
4+ bdrms
60
6
3 bdrms
27
40
41%
32%
30
20
2 bdrms
19%
152
13% 13%
0
27
<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+
<2 bdrms
S-L RATIO SALES INVENTORY
22 7 32%
80 33 41%
79 15 19%
46 6 13%
15 2 13%
5 0 n/a
2 0 n/a
70
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. 19 ●
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