burnaby north CONDO - JULY 2 0 2 4
SALES TO LISTINGS RATIO 16% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 1.3% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 84% VS 2023
▼ 4% VS 2023
▼ 0.2% VS 2023
▼ 11% VS 2023
There were 624 condo listings in Burnaby North in July, 13% above June and 84% higher than July 2023.
July condo sales decreased by 16% month-over-month, to 97, and were 11% below July 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 109 339
% Change
No. 115 553
% Change
The sales-to-listing ratio for condos in Burnaby North, at 16%, reflected a balanced market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$885 $708,732 $681,300 16% 97 624
-1.3% -4% -0.2% -52% -11% 84%
-6% -1.2% -1.1% -25% -16% 13%
The condo median price in July was $681,300, a 1.1% decrease from June and 0.2% below July 2023. The average sold price was $708,732, 1.2% below last month; the average PSF sale price was $885, down 6% to last month.
$896 $738,553 $683,000 32%
$940 $717,293 $689,000 21%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● JUL 2023 ● JUL 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
624
521
553
536
429
389
400
392
339
357
315
289
267
118
115
104
92
85
83
109
97
106
84
64
63
68
$722K
$710K
$713K
$709K
$699K
$699K
$683K
$689K
$681K
$668K
$665K
$667K
$652K
BURNABY NORTH
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
250
4+ bdrms
2
200
3
150
3 bdrms
64
100
30%
64
16% 15%
2 bdrms
50
357
7%
4%
0
30
<$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
97 29 30%
247 40 16%
158 23 15%
58 4 7%
30 0 n/a
24 1 4%
3 0 n/a
7 0 n/a
201
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. 16 ●
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