burnaby south CONDO - OCTOBER 2 0 2 4
SALES TO LISTINGS RATIO 25% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 5% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 41% VS 2023
▲ 43% VS 2023
▼ 0.7% VS 2023
▼ 1.1% VS 2023
There were 432 condo listings in Burnaby South in October, 0.2% above September and 41% higher than October 2023. October condo sales increased by 29% month-over-month, to 107, and were 43% above October 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The sales-to-listing ratio for condos in Burnaby South, at 25%, re&ected a sellers' market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
107 432
$987 $775,736 $728,000 25% 75 306
43% 41%
$941 $722,109 $676,400 19% 83 431
-0.2% 7% 6% 29% 29% 0.2%
The condo median price in October was $720,000, a 6% increase from September and 1.1% below October 2023. The average sold price was $770,545, 7% above last month; the average PSF sale price was $939, down 0.2% to last month.
$939 $770,545 $720,000 25%
-5% -0.7% -1.1% 1.1%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● OCT 2023 ● OCT 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
431
408
432
455
444
413
309
306
334
281
264
249
245
102
101
107
75
92
86
83
83
81
78
63
58
56
$796K
$779K
$767K
$758K
$758K
$750K
$745K
$740K
$728K
$730K
$726K
$720K
$676K
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
160
140
4+ bdrms
2
120
100
6
3 bdrms
80
54
36% 38%
60
64
40
16% 17% 17%
2 bdrms
259
20
0
37
<$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
55 20 36%
127 48 38%
152 25 16%
65 11 17%
18 3 17%
14 0 n/a
1 0 n/a
117
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 November 12, 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. 19 ●
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