burnaby south CONDO - MARCH 2 0 2 4
SALES TO LISTINGS RATIO 36% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 11% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 5% VS 2023
▲ 1.1% VS 2023
▲ 13% VS 2023
▲ 5% VS 2023
There were 281 condo listings in Burnaby South in March, 6% above February and 13% higher than March 2023. March condo sales increased by 35% month-over-month, to 101, and were 5% above March 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The sales-to-listing ratio for condos in Burnaby South, at 36%, reflected a sellers' market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
101 281
$917 $747,909 $749,900 39% 96 249
11% 5% 1.1% -7% 5% 13%
$922 $772,733 $736,000 28% 75 264
10% 1.7% 3% 27% 35% 6%
The condo median price in March was $758,000, a 3% increase from February and 1.1% above March 2023. The average sold price was $786,231, 1.7% above last month; the average PSF sale price was $1,014, up 10% to last month.
$1,014 $786,231 $758,000 36%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● MAR 2023 ● MAR 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
309
306
305
281
257
254
249
264
249
245
245
242
242
161
149
90
101
116
75
96
93
79
75
63
58
56
$840K
$796K
$784K
$794K
$780K
$767K
$758K
$750K
$743K
$745K
$736K
$728K
$730K
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
1
65%
60
5
3 bdrms
47%
37
40
39%
59
2 bdrms
20
14% 17%
168
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
26 17 65%
87 41 47%
82 32 39%
51 7 14%
24 4 17%
7 0 n/a
4 0 n/a
75
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. 19 ●
Made with FlippingBook - professional solution for displaying marketing and sales documents online