burnaby south CONDO - FEBRUARY 2 0 2 4
SALES TO LISTINGS RATIO 28% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 0.9% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 0.2% VS 2023
▲ 1.1% VS 2023
▲ 17% VS 2023
▼ 11% VS 2023
There were 264 condo listings in Burnaby South in February, 6% above January and 17% higher than February 2023. February condo sales increased by 19% month-over-month, to 75, and were 11% below February 2023. The sales-to-listing ratio for condos in Burnaby South, at 28%, re&ected a sellers' market. The condo median price in February was $736,000, a 0.8% increase from January and 1.1% above February 2023. The average sold price was $772,733, 1.2% below last month; the average PSF sale price was $922, down 9% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$922 $772,733 $736,000 28% 75 264
$930 $771,489 $727,950 37% 84 226
-0.9% 0.2% 1.1% -24% -11% 17%
$1,011 $782,354 $730,000 25% 63 249
12% 19% 6%
-9% -1.2% 0.8%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● FEB 2023 ● FEB 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
309
306
305
257
254
249
264
249
226
245
245
242
242
161
149
90
116
75
84
96
75
93
79
63
58
56
$840K
$796K
$784K
$794K
$780K
$767K
$750K
$743K
$745K
$736K
$728K
$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
60
5
3 bdrms
40
28
45%
41%
50
20
26%
2 bdrms
15%
161
5%
0
<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+
20
S-L RATIO SALES INVENTORY
29 13 45%
83 34 41%
78 20 26%
46 7 15%
19 1 5%
6 0 n/a
3 0 n/a
<2 bdrms
74
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 March 7, 2024. All data from Real Estate Board of Greater Vancouver and Fraser Valley & 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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