burnaby north CONDO - MAY 2 0 2 4
SALES TO LISTINGS RATIO 20% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 8% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 78% VS 2023
▼ 4% VS 2023
▼ 4% VS 2023
▼ 12% VS 2023
There were 535 condo listings in Burnaby North in May, 3% above April and 78% higher than May 2023.
May condo sales decreased by 10% month-over-month, to 106, and were 12% below May 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 120 301
% Change
No. 118 521
% Change
The sales-to-listing ratio for condos in Burnaby North, at 20%, re(ected a balanced market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
106 535
-50% -12% 78%
-13% -10% 3%
The condo median price in May was $667,000, a 5% decrease from April and 4% below May 2023. The average sold price was $718,926, 3% below last month; the average PSF sale price was $905, down 4% to last month.
$905 $718,926 $667,000 20%
$986 $750,076 $695,950 40%
$947 $740,846 $698,500 23%
-4% -3% -5%
-8% -4% -4%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● MAY 2023 ● MAY 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
535
521
429
389
339
400
392
357
301
315
299
289
267
121
118
104
92
120
85
83
106
109
84
68
64
63
$730K
$722K
$709K
$710K
$713K
$699K
$696K
$699K
$683K
$668K
$665K
$667K
$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
200
4+ bdrms
1
150
5
3 bdrms
56
100
32%
24%
68
20%
50
2 bdrms
286
7%
0
33
<$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
90 29 32%
207 41 20%
135 32 24%
58 4 7%
18 0 n/a
19 0 n/a
2 0 n/a
6 0 n/a
192
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 June 10, 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. 16 ●
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