burnaby north CONDO - MARCH 2 0 2 4
SALES TO LISTINGS RATIO 17% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 0.1% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 7% VS 2023
▲ 0.8% VS 2023
▲ 59% VS 2023
▼ 39% VS 2023
There were 400 condo listings in Burnaby North in March, 27% above February and 59% higher than March 2023. March condo sales decreased by 19% month-over-month, to 68, and were 39% below March 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 112 251
% Change
No.
% Change
The sales-to-listing ratio for condos in Burnaby North, at 17%, reflected a balanced market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$930 $797,641 $713,000 17% 68 400
0.1% 7% 0.8% -62% -39% 59%
$936 $747,000 $710,000 27% 84 315
-0.7% 7% 0.4% -36% -19% 27%
The condo median price in March was $713,000, a 0.4% increase from February and 0.8% above March 2023. The average sold price was $797,641, 7% above last month; the average PSF sale price was $930, down 0.7% to last month.
$929 $743,763 $707,500 45%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● MAR 2023 ● MAR 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
429
400
389
339
392
357
301
315
299
289
251
270
267
121
120
104
92
112
84
83
116
109
68
84
64
63
$730K
$722K
$709K
$710K
$713K
$708K
$699K
$696K
$683K
$680K
$668K
$665K
$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
160
140
4+ bdrms
120
100
5
3 bdrms
80
36
60
25%
44
19% 19%
40
2 bdrms
15% 15%
10%
221
9%
20
0
19
<$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
67 13 19%
152 29 19%
112 17 15%
41 6 15%
10 1 10%
11 1 9%
3 0 n/a
4 1 25%
143
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 April 10, 2024. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listings 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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