burnaby south CONDO - APRIL 2 0 2 4
SALES TO LISTINGS RATIO 28% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 3% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 36% VS 2023
▼ 5% VS 2023
▼ 7% VS 2023
▼ 38% VS 2023
There were 333 condo listings in Burnaby South in April, 19% above March and 36% higher than April 2023.
April condo sales decreased by 9% month-over-month, to 92, and were 38% below April 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 149 245
% Change
No. 101 281
% Change
The sales-to-listing ratio for condos in Burnaby South, at 28%, reflected a sellers' market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$975 $798,749 $778,500 28% 92 333
-55% -38% 36%
-4% 1.6% 3% -23% -9% 19%
The condo median price in April was $778,500, a 3% increase from March and 7% below April 2023. The average sold price was $798,749, 1.6% above last month; the average PSF sale price was $975, down 4% to last month.
$1,006 $844,398 $840,000 61%
$1,014 $786,231 $758,000 36%
-3% -5% -7%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● APR 2023 ● APR 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
333
309
305
306
257
254
281
245
264
249
245
161 242
242
149
101
90
116
75
92
93
79
75
63
58
56
$840K
$796K
$784K
$794K
$780K
$779K
$767K
$758K
$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
100
4+ bdrms
1
80
9
60
3 bdrms
43
39%
40
32%
25%
56
17%
2 bdrms
20
187
5%
0
27
<$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
44 11 25%
102 40 39%
94 30 32%
58 10 17%
22 1 5%
9 0 n/a
4 0 n/a
102
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 May 8, 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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