burnaby south CONDO - MAY 2 0 2 4
SALES TO LISTINGS RATIO 20% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 3% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 0.9% VS 2023
▲ 69% VS 2023
▼ 3% VS 2023
▼ 48% VS 2023
There were 408 condo listings in Burnaby South in May, 22% above April and 69% higher than May 2023.
May condo sales decreased by 10% month-over-month, to 83, and were 48% below May 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 161 242
% Change
No.
% Change
The sales-to-listing ratio for condos in Burnaby South, at 20%, re(ected a balanced market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$954 $776,894 $750,000 20% 83 408
0.9% -69% -48% 69%
$975 $798,749 $778,500 28% 92 334
-26% -10% 22%
The condo median price in May was $750,000, a 4% decrease from April and 0.9% above May 2023. The average sold price was $776,894, 3% below last month; the average PSF sale price was $954, down 2% to last month.
$981 $797,128 $743,000 67%
-2% -3% -4%
-3% -3%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● MAY 2023 ● MAY 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
408
309
305
334
257
254
306
281
242
264
249
245
242
161
101
90
75
116
83
93
92
79
78
63
58
56
$794K
$796K
$784K
$780K
$779K
$767K
$758K
$758K
$743K
$745K
$750K
$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
140
120
4+ bdrms
1
100
80
4
3 bdrms
50
60
35%
40
21%
56
2 bdrms
13%
224
8%
7%
20
0
23
<$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
62 8 13%
130 46 35%
103 22 21%
73 5 7%
24 2 8%
13 0 n/a
3 0 n/a
133
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. 19 ●
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