the vancouver rennie review | August 2024

burnaby north DETACHED - JULY 2 0 2 4

SALES TO LISTINGS RATIO 15% BALANCED MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 21% VS 2023

▲ 18% VS 2023

▲ 66% VS 2023

▼ 29% VS 2023

There were 149 detached listings in Burnaby North in July, 15% above June and 66% higher than July 2023. July detached home sales decreased by 27% month-over-month, to 22, and were 29% below July 2023. The sales-to-listing ratio for detached in Burnaby North, at 15%, reflected a balanced market.

THIS MONTH No. $2,414,955 $2,182,500 15% 22 149

PREVIOUS MONTH

PREVIOUS YEAR

No.

% Change

No.

% Change

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

31 90

21% 18% -57% -29% 66%

$2,478,183 $2,482,500 23% 30 130

-3% -12% -36% -27% 15%

The detached median price in July was $2,182,500, a 12% decrease from June and 18% above July 2023.

$1,988,729 $1,850,000 34%

The average sold price was $2,414,955, 3% below last month and up 21% to July 2023.

▶ RATIO OF MEDIAN PRICES

▶ RECENT TRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

149

130

114

130

2.87

107

104

2.61

104

84

90

87

83

81

70

2.02

36

30

26

24

31

19

22

24

19

1.38

18

18

16

16

1.34

1.11

$2.48M

$2.21M $2.22M $2.18M $2.14M $2.03M

$2.18M

$1.95M $2.07M

$1.89M $1.99M $1.93M

$1.85M

23-Jul

24-Jun

24-Jul

▶ TOTAL LISTINGS & SALES BY PRICE RANGE

SELLERS' MARKET 21% +

BALANCED 12 - 20%

BUYERS' MARKET <12%

● SALES ● TOTAL INVENTORY ● S-L RATIO

40

30

20

23%

22%

10

13%

13%

7%

0

<$1M

$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M $3.0M-3.99M $4.0M-4.99M $5.0M-5.99M

$6.0M+

S-L RATIO SALES INVENTORY

1 0 n/a

18 4 22%

44 10 23%

31 4 13%

42 3 7%

8 1 13%

2 0 n/a

3 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 August 6, 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. 14 ●

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