rennie review - March 2023

burnabysouth DETACHED -FEBRUARY 2023

SALES TO LISTINGSRATIO 20% BALANCEDMARKET

▶ MARKETSUMMARY Therewere79 detachedlistingsin BurnabySouth in February,8% aboveJanuaryand 1.3% lowerthan February2022. February detached hom esalesincreased by 33% m onth-over-m onth,to16,and were61% below February 2022. Thesales-to-listing ratio fordetached in Burnaby South, at20% ,reflected abalanced m arket. Thedetachedm edian pricein Februarywas$1,742,500, a2% increasefrom Januaryand 29% below February 2022. Theaveragesold pricewas$1,765,793,3% below last m onth and down 32% toFebruary2022.

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 32% VS 2022

▼ 29% VS 2022

▼ 1.3% VS 2022

▼ 61% VS 2022

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

16 79

41 80

-32% -29% -60% -61% -1.3%

12 73

-3% 2% 23% 33% 8%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

$1,765,793 $1,742,500 20%

$1,826,631 $1,705,000 16%

$2,590,149 $2,460,000 51%

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

12

125

109 106

122

12

1

2.47

90

104

79

80

74

73

1.78

1.60

38

41

1.50

1.38

24

1.35

21

20

32

28

16

19

14

12

12 12

$2.46M

$2.21M $2.21M $2.17M

$2.23M

$2.19M

$2.13M

$1.91M

$1.87M $1.90M

$1.76M

$1.71M $1.74M

Feb-22

Jan-23

Feb-23

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

25

100%

20

15

48%

10

5

6%

6%

0

<$600K

$600-799K

$800-999K

$1.0M -1.24M $1.25M -1.49M $1.5M -1.99M

$2.0M -2.49M

$2.5M -2.99M

$3M+

S-L RATIO SALES INVENTORY

0 1 n/a

2 2 100%

23 11 48%

17 1 6%

18 1 6%

19 0 n/a

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